Demystifying EIP (Ethereum Improvement Protocol): What You Need to Know

Your Ultimate Guide to EIP (Ethereum Improvement Protocol)

What is EIP (Ethereum Improvement Protocol)

An Ethereum Improvement Proposal (EIP) is a proposal to improve the Ethereum ecosystem.

An EIP can suggest changes to various aspects of Ethereum, including the core protocol, the Ethereum Virtual Machine (EVM), Smart Contract Standards and other aspects of the ecosystem.

An EIP is usually created by a developer or a group of developers who publish their ideas and suggestions in a public github repository. As soon as an EIP is published, the Ethereum community can discuss it and give feedback.

An EIP can have different types, including:

EIPS have contributed to making Ethereum one of the leading blockchains and have important changes such as the EIP-1559 upgrade to improve gas fees and the EIP-20 smart contract standard enable ERC 20 token to create.

EIP-1559 brings three important changes: