Ethereum developer Paul Berg has introduced a proposal that could bring Ethereum-based tokens closer to the functionality of the network’s native token, Ethereum (ETH), named EIP-7809. The proposal introduces four new opcodes—MINT & BURN, BALANCEOF, NTCALL, and NTCREATE—designed to simplify token management and create new possibilities for Ethereum Layer 2 applications (dApps).
Currently, ETH is Ethereum’s only “native” token, meaning it can perform operations like direct transfers more efficiently than other Ethereum-based tokens. Most other tokens built on Ethereum don’t have these built-in capabilities, which limits direct interactions.
With EIP-7809, developers could create tokens that act more “native-like,” supporting enhanced transfer capabilities and more versatile financial products.
Here’s a breakdown of the proposed changes:
- MINT & BURN: These opcodes would enable efficient management of token supply by allowing new tokens to be created or removed from circulation.
- BALANCEOF: This opcode would simplify balance-checking across different tokens.
- NTCALL: NTCALL would allow tokens to be transferred while calling a contract.
- NTCREATE: This would let developers create new contracts that can accept tokens right from the start.
Additionally, EIP-7809 suggests changing the “value” field to a pair of “token_id” and “token_amount,” allowing tokens to be grouped in a “native_tokens_list” for multiple-token transactions.
The proposal has received feedback, with some noting similarities to previous Ethereum proposals like EIP-223 and EIP-1155, which introduced methods for attaching payloads to transactions and transferring multiple tokens in one call. Others compared EIP-7809 to features on the Solana blockchain, which has long supported native-like token functionality.
Despite some criticisms, the proposal could simplify token operations on Ethereum. Berg’s idea emerged from his work on the Sablier Mainnet, an earlier Ethereum project that moved to the Layer 2 platform Morph.
If approved, EIP-7809 would mark a significant upgrade to Ethereum’s capabilities, allowing developers to bring more efficient, “native-like” token features to the platform, enhancing user experience, and sparking new innovation in the blockchain ecosystem.
Also Read: UBS Launches Tokenized Money Market Fund ‘uMINT’ on Ethereum
