Vitalik Buterin proposed ERC-7683 for cross-commercial standards
Uniswap Labs and Across Protocol have partnered to introduce ERC-7683, a proposed cross-chain trade execution.
The initiative, announced in a recent X post by Uniswap Labs, introduces the new standard's goal of creating a unified framework for cross-chain purposes and improving interoperability between decentralized networks.
A proposal has been publicly submitted for review on the Ethereum Magicians forum, seeking to create a framework that various decentralized platforms can use to improve user experience and business efficiency.
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Vitalik Buterin for ERC-7683 support
Ethereum founder Vitalik Buterin expressed his support for the new standard, calling ERC-7683 “an open standard for tokenizing cross-chain orders.”
Buterin explained about the functionality, if a user wants to transfer coins from one blockchain, such as Polygon, to another, such as Base, the process involves publishing an ERC-7683 transaction.
The transaction sends the coins from Polygon to a secure “lock box”, which can only be claimed by someone who verifies that they have sent the coins to a location on the Base.
Buterin also noted that the standard includes advanced mechanisms such as bagging and Merkle authentication, which improve the efficiency of cross-chain transaction processes.
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The best details of the new level
ERC-7673 introduces the CrossChainOrder structure code to simplify cross chain management by identifying the necessary parameters.
As explained in X-Post, the new standard will ensure that cross-chain commands follow the same structure in a uniform manner, creating a smooth multi-blockchain interoperability process.
The proposal also includes a standard “ISettlementContract” code smart contract interface to further improve chain efficiency.
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Buterin moves 8 million dollars to a new wallet
In the year On August 9, Buterin's wallet address transferred 3,000 Ether (ETH), worth more than $8 million, to a new multi-signature wallet.
According to X's post on Lookonchain, the details of the transfer may indicate that Buterin “maybe” intends to donate the money.
The money was sent to the unlikely charity wallet “0xfEB”, but this remains unconfirmed.
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