The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Two Altcoins Ready for Liftoff Thanks to Game-Changing Ethereum Tech, Says Crypto Trader Tyler Swope

by Daily Hodl Staff
November 14, 2020
in Altcoins, Blockchain

Crypto analyst and influencer Tyler Swope is looking at two altcoins that he believes are ready to erupt thanks to a game-changing Ethereum standard.

In a recent episode of Chico Crypto, Swope introduces a new token standard in the Ethereum blockchain known as the ERC-677. According to the crypto influencer, ERC-677 is the new and improved version of ERC-20, which is the technical standard for tokens running smart contracts on Ethereum.

ERC-677 works with ERC-20 tokens and has additional features such as transfer and call functionalities. These features can help expand the application of smart contracts by allowing tokens to be transferred to a contract, which will then trigger a set of guidelines outlining how to respond to the receiving tokens within the transaction.

Swope says the new Ethereum standard may serve as a fundamental catalyst for the growth of Chainlink (LINK).

“Chainlink is in the know. Steve (Ellis) said what Chainlink was using it for, ‘LINK uses it and it is great for minimizing transactions and/or inter-contract interactions.’ And it is not vulnerable to re-entrancy attacks… Chainlink is using it like mad. We can look up the transfer and call function from Bloxy, which shows us how this functionality is being used. As we can see, the number of times this has been used has been growing and growing since June of 2019. What happened in June? The launch of Chainlink mainnet on Ethereum.” 

Swope says that Chainlink is using the transfer and call function to save on gas by allowing price feed relayers to pay for and request off-chain data in a single transaction.

In addition to Chainlink, the crypto analyst says that Dai (DAI) may also benefit from the added functionalities of ERC-677 by implementing a customized version of it on xDai.

“xDai is of course using it and they’re using it in multiple ways. Of course, for their bridges and the transferring of tokens… This customized version of ERC-677 and the multi-token mediator address have created something special with xDai. And that’s the OmniBridge… So ERC-677 and its tech is revolutionizing bridges and transfers across them for good.” 

Swope also says that the ERC-677 standard will make staking tokens a reality for Chainlink and xDai.

“So if I’m correct, in the short future, staking will be allowed by other tokens on xDai’s sister chain. And guess what? Chainlink is doing something similar on mainnet Ethereum, allowing tokens to become stakeable.” 

The crypto influencer highlights that ERC-677 tokens will be huge in the current boom cycle.

“I believe 677 and the transfer and call function will be the ERC-20 of this run. It’s going to change the game as it already is.” 

I

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Art Furnace

Submit a Press Release

Industry Announcements

  • Bunzz Raises $4.5 Million Seed Round To Expand Its Smart Contract Hub for DApp Development
    January 24, 2023
  • Dogecoin and Shiba Inu Better Watch Out – Floki Just Had Three Big Things Happen for It
    January 24, 2023
  • Crypto Marketing – What Initiatives Will Bring More Value and Users in 2023
    January 23, 2023
  • Make Crypto Payments on BChat Web 3.0 Messenger – BChat Integrates Beldex Wallet
    January 22, 2023
  • KEY3.id Supports Multi-Chain Transaction, Partnership With KuCoin Wallet, CoinHub Wallet and Wallet3 To Launch 2023 Lucky Transaction Campaign With Over 30,000 Participants on Social
    January 20, 2023
  • Deposit EUR/GBP at Zero Percent Fees With Newly Launched SEPA/FPS Channels on Bitget
    January 19, 2023
  • Coinbase Lists Kava, Advancing Ethereum–Cosmos Interoperability
    January 18, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$22,799.11
$22,799.11
4.21%
Ethereum
$1,560.36
$1,560.36
5.11%
Cardano
$0.371622
$0.371622
6.16%
XRP
$0.396048
$0.396048
4.6%
Dogecoin
$0.087424
$0.087424
3.03%

Spotlight

  • New Cardano (ADA) Stablecoin Launch Revealed – Here’s When Djed Comes Out
    January 25, 2023
  • Layer-1 Crypto Project Erupts 190% in Just One Week Amid Rollout of New Revenue Feature
    January 28, 2023
  • Fantom Founder Andre Cronje Makes ‘Announcement’ As FTM Completes 103% Rally Since New Year
    January 23, 2023
  • Top Crypto Trader Says One Ethereum Rival Could Erupt by 100%, Updates Outlook on Bitcoin and Altcoins
    January 26, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl