Let’s put this to bed.
I have been trading crypto for some time now on multiple platforms using multiple wallets.
I don’t know it all but I know where to find what I don’t.
Apologies for the length
The following post is both ACTUAL knowledge & supporting info from multiple sources.
Along with 1820 the ERC777 interfaces with ERC820 which is a registry standard for compatible contracts.
ERC20 does not have this interface registry so if tokens sent to incorrect contract tokens are lost. Hundreds of thousands if not into the millions of d’s are lost each year due to ERC 20 sending tokens to contracts that do not support them. ERC20 does not have a means of checking compatibility of contract. Thus those tokens can not be withdrawn back into account / wallet.
ERC777 does utilizing 820.
Supporting info;
“The use of the operator is ultimately enabled by another contract, the ERC-820. This contract acts as a universal and ownerless registry where any account/address can check to see if the destination that they are attempting to send their tokens to can receive/manage those types of tokens. This seems to be an evolution of the ERC-223 spec, which is meant to help prevent users from sending tokens to an incompatible smart contract. Under a normal ERC-20 use case, the sender would have to send an approve transaction before they could send any of their PokerCointokens to the SureThing smart contract. In this case, the PokerCoin token(ERC-777) developers can simply register their token with a gaming industry PokerRegistry contract(ERC-820) and state that it is compatible with the PokerCoin contract(Betting Smart Contract). Any attempts to send PokerCoin to another contract that has not registered with the ERC-820 contract will fail.”
Posted 2020/09/07
@dec777official
“This is the moment when We offically activate the fair decentralized finance for everyone !!
#dec777 #dec777launcher #erc777 #blockchain #ICO”
Once compatibility confirmed ERC777 allows for 1 transaction as apposed to the 2 transactions required with ERC20. The more transactions equals more Gas ( cost to perform transaction / think of it as brokerage fees on trades )
Supporting info;
“ERC777 Token Development
ERC777 is the advance token standard and valid successor of ERC20 standard and saves money on transaction fees due to less gas usage, ERC777 standard determination represents in the EIP777 (EIP - Ethereum Improvement Proposal Report).
EXPL9”
Supporting info;
“This set of interfaces and contracts deal with type introspection of contracts, that is, examining which functions can be called on them. This is usually referred to as a contract’s interface.
Ethereum contracts have no native concept of an interface, so applications must usually simply trust they are not making an incorrect call. For trusted setups this is a non-issue, but often unknown and untrusted third-party addresses need to be interacted with. There may even not be any direct calls to them! (e.g. ERC20 tokens may be sent to a contract that lacks a way to transfer them out of it, locking them forever). In these cases, a contract declaring its interface can be very helpful in preventing errors.
There are two main ways to approach this.
* Locally, where a contract implements IERC165 and declares an interface, and a second one queries it directly via ERC165Checker.
* Globally, where a global and unique registry (IERC1820Registry) is used to register implementers of a certain interface (IERC1820Implementer). It is then the registry that is queried, which allows for more complex setups, like contracts implementing interfaces for externally-owned accounts.
Note that, in all cases, accounts simply declare their interfaces, but they are not required to actually implement them. This mechanism can therefore be used to both prevent errors and allow for complex interactions (see ERC777)”
NOTE ; I have more if the need to continue this dance is desired.
