A group of top Ethereum developers and leaders on Wednesday released a new framework that would simplify and standardize transverse token transfers.
The initiative, called Open Intts Framework (OIF), was kick-started by contributors from the Ethereum Foundation and is supported by 25 projects, including teams that build LAG-2s such as Arbitum, Optimism, ZKSYNC and Roll, according to a press release shared with Coindesk .
The goal of the initiative is to bring “intentions” to all corners of the Ethereum -Ecosystem, which is a technological feature that lets a blockchain user reach a specific goal by asking an intermediary to meet this goal (such as a trade or transaction, they want to make.)
There are some standards out there that are already trying to make transverse chain transactions easier by using intentions. ERC-7683, which was introduced by the team behind the decentralized Exchange Uniswap and across the protocol, is one of these standards circulating the Ethereum space recently, and must address fragmentation and allow multiple chains in the Ethereum ecosystem to interoper .
But the OIF team claims that they will build on this standard through their framework that allows the purpose of functioning on a scale. “By offering shared infrastructure and execution coordination, OIF makes intent-based transactions comtanceless, efficient and accessible to all projects,” the press release states.
“As Ethereum’s ecosystem becomes more and more multicain, intents help streamline fragmented user experiences by enabling seamless, near-instant cross-chain transactions through specialized solvers. However, the integration of purposes remains complex and resource -intensive, making an open framework important to standardize infrastructure, reduce barriers to adoption and promote broader collaboration across the ecosystem, ”the team shared with Coindesk.
Read more: ‘Intts’ is Blockchain’s big new buzzword. What are they and what is the risk?