There are many different standards for the token on the Ethereum network to support its multiple token contracts. The most familiar of these is probably ERC20, a stable standard that allows you to easily create new, used tokens, while allowing a reasonable setting. That's why many projects use it as a standard token. However, this is not without some drawbacks, and various efforts have been made to solve these problems, one of which is called ERC827. Let's take a short look at what it is and what it is intended for. WHAT IS ERC827? ERC827 is one of the latest token standards and ERC20 improvements in the Ethereum network. Its goal is to be a simple and elegant solution to some known flaws in the ERC20 standard - especially when making calls in transmissions and approvals. The abstract of GitHub is proud that it is less than 100 lines of code to implement these extensions to the original standard. It preserves the easy-to-use and heuristic nature of the ERC20 standard, to which we are all accustomed, but uses it and improves it, for example ERC223, trying to improve the ERC20. In the "motivation" section, it is explained that only the value can be transferred in the current ERC20 model. However, users of Ethereum can transmit data and data with ERC827. In addition, with the help of ERC827 tokens can be approved for other third parties. This new addition to ERC20 is exciting, at least for me, and can change the way we see the ERC20 token. From its GitHub page, we see that many of the verified and proven functions that the ERC20 already provides remain intact (if they are not broken, do not fix them), but the ERC827 addresses transmission, transmission and approval. Since for some of the most relevant flaws in the existing ERC20 token standard and improves them, while maintaining compatibility with ERC20, I think that ERC827 will be quite popular among new projects and updates for current / past projects. In my opinion, the fact that it is fully compatible with ERC20 is what it really is for this new token standard. Users will be able not only to take full advantage of the new standard, but also be able to use the standard of ERC20 markers to which they are accustomed. It's a win-win. Its utility and simplicity are huge benefits for this new standard, and I'm intrigued to see what it can do. If you use the code at all, be sure to check GitHub; It's always great to see people cut the code and elegantly solve problems. Source: themerkle.com
