Optimism Announces Support For Cross-Chain Intent Messaging Standard ERC-7683
In Brief
Optimism announced its support for the ERC-7683 cross-chain intent messaging standard, designed to unify liquidity across Ethereum Layer 2 networks.
Ethereum Layer 2 network Optimism announced its support for ERC-7683, a cross-chain intent messaging standard designed to unify liquidity across Ethereum Layer 2 networks.
Developed by Across and Uniswap Labs, ERC-7683 facilitates the development of a unified application programming interface (API) for systems that perform cross-chain trades. It includes a general cross-chain order structure and establishes a standardized smart contract interface for settlement.
By adopting ERC-7683, cross-chain intent systems can work together and leverage shared infrastructure, encompassing order dissemination services and filler networks. This integration enhances usability by fostering higher competition to address intents, potentially leading to better outcomes for end-users.
For users, this standard offers the benefits of easier cross-chain swaps, better prices, faster trades, and a wider array of options across multiple blockchains. For builders and projects that adopt ERC-7683, it provides access to shared liquidity networks, the ability to attract more users through a seamless user experience, and the option to customize essential features such as pricing and settlement.
Additionally, ERC-7683 facilitates connections between the Superchain and the broader Ethereum ecosystem. It enhances interoperability, enabling token transfers across all ecosystems with reduced slippage, improved latency, and increased security within the Superchain.
The combination of ERC-7683 and native Superchain interoperability aims to eliminate cross-chain friction, working together to help Ethereum achieve internet-level scale.
What Is Optimism’s Superchain?
Optimism serves as a Layer 2 scaling solution for Ethereum, aiming to enhance transaction throughput and reduce transaction costs. It achieves this through the use of optimistic rollups, which enable transactions to be processed on Optimism’s blockchain, known as OP Mainnet while relying on Ethereum for final settlement, consensus, and data availability.
The Superchain represents a network of interconnected Layer 2 blockchains that utilize the open-source OP Stack. This design is aimed at improving scalability, interoperability, as well as flexibility for the development of decentralized applications.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
