What is ERC-223?
The ERC-20 protocol was expanded with ERC-223, which was developed by an Ethereum developer with the Reddit user name “Dexaran” to address the ERC-20 problem.
ERC-223 tokens are more efficient than ERC-20 tokens since transactions only need one step instead of two. ERC-223 fixes some of the ERC-20 problems while maintaining all of the original functionality. Some of the most critical ERC-20 problems are addressed by the new standard’s upgrades and capabilities, especially when dealing with other smart contracts.