Ethereum to simplify crosschain transactions with new token standards

Ethereum developers are working to improve blockchain interoperability with two new token standards: ERC-7930 and ERC-7828.

“There’s no standard way for wallets, apps, or protocols to interpret or display this information,” decentralized finance (DeFi) ecosystem development organization Wonderland wrote in a May 1 X post. Wallets, decentralized applications (DApps), block explorers and smart contracts follow different rules.

“The result? A messy, inconsistent experience that breaks cross-chain UX,“ Wonderland stated.

Wonderland is a group of developers, researchers and data scientists focused on improving the Ethereum DeFi ecosystem. The organization partnered with multiple DeFi protocols, including Optimism, Aztec, Connext and Yearn.

In the post, the organization shared what was discussed at a recent Ethereum Foundation interoperability working group call. Teddy from Wonderland explained that the current goal is to finalize both token standards within the next two weeks. He added:

“We badly need feedback on the ETH-Magicians forum.”

Something for people, something for bots

Wonderland explained that “ERC-7930 defines a compact, binary format for interoperable addresses.” This format is machine-friendly and optimized for protocols that require a single representation for all blockchains.

ERC-7828 expands that standard “by adding a human-readable layer, using formats like address@chain, ensuring everything stays clear and simple for users.” Together, the two are designed to enhance the experience of using Ethereum’s inter-blockchain ecosystem.

“Target audience for ERC-7828 is anything that interacts with humans… It’s the text layer,” Teddy said during the call.

Many chains, one address

Put simply, the proposed system would allow the sender to specify the target blockchain when sending a payment address. This would include both a human-readable address@chain format and a machine-readable format for application programming interfaces.

The setup prevents users from sending or receiving assets on the wrong blockchain, which helps prevent crypto losses. Currently, the same address can be used on multiple blockchains within the Ethereum ecosystem, which can lead to confusion.

With the new setup, wallet operation can be blockchain-agnostic, and the address input into the user interface will also determine which blockchain the transaction is directed toward. This would, in turn, reduce friction, as users currently need to switch networks in wallet settings to move from chain to chain.

Magazine: Ethereum L2s will be interoperable ‘within months’: Complete guide