Wednesday, March 27, 2024

EIP (Ethereum Improvement Proposal)

by Hideo Nakamura
EIP (Ethereum Improvement Proposal)

EIP (Ethereum Improvement Proposal)

An Ethereum Improvement Proposal, or EIP, is a design document that describes proposed changes to the Ethereum protocol. It includes suggested improvements and optimizations to the network’s codebase as well as new features and functions. Each improvement is accompanied by an explainer of how it works and why it should be adopted. The proposals are then discussed by developers in the Ethereum community before they are accepted into the protocol.

The original EIP was written in 2015 to improve scalability when launching a decentralized application (DApp). Since then, hundreds of other proposals have been submitted with various goals such as reducing transaction costs and introducing new features like smart contracts or privacy measures. Some popular examples include EIP-155 which added replay protection for transactions; EIP-1014 which introduced support for off-chain scaling using state channels; and EIP-20 which standardized token creation on Ethereum networks.

To ensure clarity around what kinds of changes are acceptable, each proposal must adhere to certain standards outlined in the official guidelines . These include criteria such as whether a change will benefit users or if it has potential security risks associated with it. After being evaluated against these criteria, proposals can either be accepted outright or sent back for revisions before being resubmitted for consideration again later on.

If accepted into the mainnet , an improvement becomes part of the official source code that runs on all nodes within the network – making it available publicly via GitHub . To stay up to date with active projects and ongoing discussions related to proposed updates, many developers subscribe to mailing lists hosted by ETHGlobal , one of Ethereum’s core teams dedicated solely towards development efforts.

Overall, Etherum Improvement Proposals provide developers with an avenue through which they can contribute their ideas towards improving this ever-growing blockchain technology ecosystem we call home!

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