New proposal to simplify cross-chain transactions

Uniswap development company Uniswap Labs and cross-chain technology protocol Across recently jointly proposed a new cross-chain intents standard, aiming to establish a unified framework for intent-based systems to specify cross-chain operations. With the proposal of this new standard, Uniswap Labs and Across have jointly published an Ethereum Request for Comment (ERC, Ethereum Comment Request) on the Ethereum Magicians forum and proposed the standard to the CAKE working group for discussion and review .

This new standard enables standard APIs for cross-chain transaction execution systems. The standard provides a common CrossChainOrder structure and a standard ISettlementContract smart contract interface.

Why do you need ERC-7683?

Uniswap Labs said that intent-driven systems have become the main solution for end-user cross-chain interactions because they are able to abstract the complexity and time constraints of traditional cross-chains. However, a major difficulty with cross-chain intent systems is how to obtain sufficient liquidity and an active network of fillers on different chains. This challenge is likely to be further exacerbated as the number of different chains increases. Ultimately, this results in a poor user experience, including higher costs, longer wait times, and higher failure rates.

Improve user experience

By implementing this standard, cross-chain intent systems can achieve interoperability and share infrastructure such as order propagation services and fillers networks. Not only does this improve the user experience, it also improves the user experience by increasing competition to satisfy user intent.

The new standards of Uniswap Labs and Across are expected to bring a more efficient and smooth experience to cross-chain transactions and lay a new foundation for the development of related fields.

(Full version introduction: Uniswap cooperates with Across to launch the intended cross-chain standard ERC-7683)

This article Uniswap Labs and Across What is the cross-chain transaction execution system standard ERC-7683? First appeared in Chain News ABMedia.