Glossary - ChicksX

ERC-777 is an Ethereum token standard enhancing ERC-20 with advanced features like better security and interoperability.

ERC-777 is a token standard on the Ethereum blockchain that improves upon ERC-20. It offers advanced functionality, such as better security through hooks, which allow for more complex interactions between smart contracts. ERC-777 also supports backward compatibility with ERC-20, ensuring interoperability with existing tokens. It introduces a more flexible approval mechanism, enabling operators to manage tokens on behalf of the owner. This standard aims to address common issues like transaction ordering attacks and enhances user experience with features like send and receive hooks.