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Crypto Terms:  Letter E
Jun 19, 2023 |
updated Apr 02, 2024

What is Ethereum Improvement Proposal (EIP)?

Ethereum Improvement Proposal (EIP) Meaning:
Ethereum Improvement Proposal (EIP) - is a document that depicts the Ethereum platform's standards.
2 minutes

Let's find out Ethereum Improvement Proposal (EIP) meaning, definition in crypto, what is Ethereum Improvement Proposal (EIP), and all other detailed facts.

The Ethereum Improvement Proposal (EIP) is a document that illustrates the standards for the Ethereum platform, including the fundamental protocol features, contract standards, and client APIs.

The repository was launched in October of 2015 by a team of core developers including Martin Becxe, Hudson Jameson, and, of course, Vitalik Buterin.

To make a choice on whether to include the changes when an EIP is sent, there are several processes that need to be completed. The steps are:

  • Draft: An EIP that is being considered openly.
  • Last Call: After the fundamental consideration, an EIP is ready for review.
  • Final (Non-core): For approximately two weeks an EIP of being in the last call, all the technical worries have been managed.
  • Final (Core): An EIP that Core devs approve or intend to implement in the future in a hard fork.
  • Deferred: An EIP that will not be immediately implemented but is being considered to do so in the future.

There are three main types of EIP in total:

  • A Standards Track EIP
  • A Meta EIP
  • An Informational EIP

A Standards Track EIP addressed the modifications that influenced most or all Ethereum implementations, as well as network protocol improvements.

A Meta EIP handles change requests and performs tasks similar to Standard Track EIPs. However, they apply to aspects of the Ethereum protocol that are not covered by the Ethereum protocol.

An Informational EIP gives regulations in developing Ethereum. Users and implementers are able to ignore informational EIPs because they don’t reflect an Ethereum community proposal.

Besides these three main types, there are other ones out there. One of them is the Core EIP which requires a consensus fork, and usually includes debates about non-core development changes. As well as Networking EIP, which includes adjustments in client specifications as well as EPI/RPC standards.

Finally, the ERC EIP is an acronym for application-level standards, which include name registries and token specifications.