OKX has started working on a new token standard

OKX has partnered with Iconomy, ZeroDev and Rhinestone. Together, the platforms will create a new standard for ERC-7579 tokens. This is stated in the official press release of the trading platform.

It is reported that ERC-7579 will simplify the management of modular smart accounts, a component of account abstraction technology. With its help, smart contracts have functionality similar to modules.

Special plugins allow developers to implement advanced functionality, including automatic transactions or improved security protocols.

Smart accounts, for example, can be configured in such a way that it will be possible to create a crypto wallet without an initial phrase. You will only need an email address. However, it will not be easy to manage them — that's why the developers have come up with a new standard.

ERC-7579 will be created to achieve two main technical objectives:

• provide a minimal and standardized approach for working with modular smart accounts;
• improve the interoperability of modular smart accounts with various crypto wallet providers.

Earlier, OKX announced that it would begin supporting four Ordinals "label" standards. According to the developers of the crypto exchange, they have a beneficial effect on the ecosystems of the largest cryptocurrencies.

Source: https://ru.beincrypto.com/okx-novyi-standart-tokenov/