Ethereum Proposal Aims To Enhance Token Transfer Experience

According to Odaily, Ethereum developer Paul Berg has introduced a proposal aimed at improving the user experience when transferring tokens on the Ethereum network. The proposal, named EIP-7809, seeks to enhance the deployment of native financial products and boost the innovative potential of Ethereum Layer 2 applications. If approved through Ethereum's proposal process, this backward-compatible extension to the Ethereum Virtual Machine (EVM) would allow fungible tokens to operate with 'native-like' attributes. Currently, ETH functions as the native token of Ethereum, while most other tokens built on the network lack many of the 'native' features that ETH possesses. This limitation affects functionalities such as direct token transfers using opcodes and the ability to transfer multiple tokens in a single contract call. EIP-7809 proposes the introduction of four new opcodes to address these issues: MINT & BURN, which would manage token supply through minting and burning; BALANCEOF, for checking token balances; NTCALL, for token transfers requiring contract calls; and NTCREATE, for creating contracts with upfront token deposits.