ERC-777 Tokenization Standard
Similar to ERC-20, ERC-777 is a tokenization standard designed for fungible tokens. It introduces enhanced functionalities for token trading, addressing issues related to decimals, minting, and burning. One significant feature of ERC-777 is the incorporation of hooks, which are functions that simplify the interaction between accounts and contracts when tokens are received. This design significantly reduces the likelihood of tokens getting stuck in contracts, an issue observed with ERC-20 tokens historically.