Ethereum faces a critical issue of fragmentation with over 50 Layer-2 (L2) solutions hindering user experience. Transactions may be faster and cheaper, but users struggle with managing multiple networks and bridging assets. This fragmentation impacts liquidity, complicating DeFi protocols and stifling innovation for developers. To address this, a new standard, ERC-7683, has been proposed, enabling seamless multi-step crosschain transactions through a shared network of relayers. Users can achieve complex actions in a single click without worrying about network switching. The ERC-7683 standard has garnered support from numerous major protocols, promoting a unified experience across the ecosystem. Its implementation could lead to a future where users manage all assets effortlessly, while developers focus on building applications that reach users across all chains. This shift is critical for overcoming barriers to mainstream adoption, ensuring Ethereum reinforces its position as a pioneer in the Web3 space.

Source 🔗