The ERC777 standard would allow token holders more control and easier transactions.
Move over, ERC20[1], and make way for ERC777. The new token standard created by Jordi Baylina[2], Jacques Dafflon, and Thomas Shababi will be finalized soon.
The EIP[3] for ERC777 was posted November 20, 2017, and has been open for community feedback[4] and criticism ever since. Last week, Baylina and Dafflon gave talks about the new token at DappCon,[5] wherein they gave a clear, mostly public-facing explanation of the merits and functionality of the standard. At the end of his talk, Baylina stated that the token standard would soon enter the last call stage of development, and that he expected it to be finalized sometime in August. Though, this is of course pending community will. Once the ERC777 standard is finalized, he said, it will be up to developers to implement it as they see fit.
The developers advertise the ERC777 standard as more customizable than ERC20, and say it allows for faster, smoother transactions. It is also apparently backward compatible with ERC20, which may encourage developers to widely adopt it. While there has been no shortage of token standards, this one appears to have significant community support.
If you'd like to check out the code for yourself, it is open source and available[6] on GitHub. For those of you who aren't developers and didn't get the chance to see Baylina and Dafflon talk at Dappcon, here's a rundown of what to expect from the new token standard.
More Intuitive Interaction with Contracts
The ERC777 Ethereum improvement proposal (EIP) explains how ERC777 tokens will employ a "send" function (similar to how Ether operates), which allows for direct transactions and exchanges
