Ethereum Improvement Proposals (EIP) is a way for Ethereum (ETH) developers to submit proposals to improve the blockchain.How does the acceptance of an EIP happen and which is the most important for the evolution of the Ethereum network?
What is an Ethereum Improvement Proposal (EIP)?
the Ethereum Development Proposals (EIP) is a mechanism for submitting proposals to improve the Ethereum blockchain.These proposals may be related to changes within the Ethereum protocol itself or changes to the Ethereum Virtual Machine (EVM).
These proposals, commonly referred to as “EIPs”, are submitted by Ethereum developers and reviewed by the community before being accepted or rejected.If a proposal is accepted, it can be implemented in a later version of Ethereum.
EIPs play an important role in the development process of Ethereum and used to propose and discuss new ideas to improve the blockchain as a whole.
They also help define common standards for the Ethereum ecosystem.which contributed to its adoption.
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The different types of EIP
There are 3 types of EIP each with different purposes and roles.
“Standard Track” EIPs
EIPs of this type affect most or all Ethereum implementations, such as protocol changes, block changes or transaction validity rules, proposed application standards/conventions, or even any changes or additions that affect the interoperability of applications using Ethereum.Standard EIPs are divided into the following categories:
– Core : improvements that require a consensus fork;
– networking : developments around devp2p, a set of network protocols that form the Ethereum network;
– Interface : improvements around customer specifications and API/RPC standards, as well as some language standards;
– ERC : specific to application standards aimed at standardizing certain uses of the Ethereum ecosystem.Examples include EIP-20 and EIP-721, which define the ERC-20 token standard and the ERC-721 non-fungible token standard.
“Meta” EIPs
“Meta” EIP is a proposed improvement to the Ethereum network that addresses the EIP process itself, rather than proposing a change to the Ethereum protocol or other implementation.EIPs of this type can be used to propose changes to the EIP process, request the creation of new EIP categories, or request the withdrawal of an EIP.
“Informational” EIPs
These EIPs are intended to describe an Ethereum design issue, provide guidelines or general information to the Ethereum community.
They have the particularity of not offering any new functionality.
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5 steps create the process of accepting an Ethereum Improvement Proposal (EIP).
First step: presenting the idea
The idea of one or more developers is presented as a proposal in the Ethereum forums to collect community feedback.
Second step: create the draft
After hearing feedback from the community, the developer(s) began actively working on the EIP.A draft EIP has been created.
Step three: the final call
At this point, the proposal from the developer(s) can be found on the dedicated EIP website.Final comments from the community are gathered to ultimately update the code and propose a revised version of the EIP.
Step four: acceptance
This status indicates that the EIP is considered ready for implementation by Ethereum blockchain client developers.
Fifth step: the final presentation
This final stage corresponds to a state where the EIP only needs to be updated to correct any errors.In addition, other states may also apply to EIP:
– REJECTED : the implementation of the EIP is no longer planned;
– Postponed : HIA postponed for later consideration;
– Replaced : a new EIP is proposed and this EIP is replaced or cancelled;
– Taken by : the EIP author withdrew his proposal.
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Some Notable EIPs in Ethereum History
EIP-1: the origin of Ethereum
As its name suggests, EIP-1 is the first EIP, which was created on October 27, 2015.This EIP describes in great detail the goals and guidelines that all future EIPs will follow.formed by the Ethereum community.So this is the original EIP, from which all other EIPs on the Ethereum blockchain are derived.
EIP-20: the introduction of ERC-20 tokens
EIP-20 is the best known EIP in the Ethereum ecosystem.In effect, this EIP that offers the implementation of the famous ERC-20 token standard, which is used by most of the applications and protocols developed on Ethereum.
The introduction of this token standard is the first step for Ethereum towards its mass adoption, as it becomes the blockchain that hosts most tokens.
EIP-137: Ethereum domain names
EIP-137 gave birth to the Ethereum domain name system.The default Ethereum address format is a 40-character hexadecimal string, consisting of the “0x” prefix and the last 20 bytes of the Ethereum address, which is the public key hash.This format can be confusing for users and also makes it difficult to detect address entry errors.EIP-137 then suggests changing the format of the address to make it human readable.
Thanks to EIP-137 the Ethereum Name Service (ENS) protocol was born.
Users can purchase Ethereum domain names such as “France.eth” and link this domain name to an Ethereum address.Therefore, if any entity wants to send ETH to this user’s address, it only needs to know the France.eth address, because it is linked to the user’s hexadecimal address.
👉 What is Ethereum Name Service (ENS)?
EIP-721: the birth of non-fungible tokens
Ethereum Improvement Proposal 721 is a proposed standard interface for non-fungible tokens (NFTs) on the Ethereum blockchain.NFTs are unique digital assets that cannot be copied and are often used to represent digital collectibles, such as artwork or virtual items from video games.
EIP-721 provides a standard way to create, manage, and transfer NFTs on the Ethereum blockchain, making it easier for developers to build decentralized applications (dApps) that use NFTs.
👉 Learn more about non-fungible tokens (NFT)
EIP-779: Rewriting Blockchain History
EIP-779 is undoubtedly one of the most controversial EIPs in Ethereum history..It was the EIP that made it possible to “absorb” the multi-million dollar hack of The DAO.
EIP-779 rewrote the entire history of the Ethereum blockchain from when the DAO was hacked.The idea behind this operation is to return stolen funds to their owners.
As a result of this hard fork, the Ethereum community split into two groups, each identifying with its own blockchain.The application of EIP-1559 is the Ethereum blockchain as we know itwhile the other blockchain that does not implement this is Ethereum Classic.
👉 June 17, 2016, the day the DAO exploded into the air
EIP-1559: Ethereum gets a burning function
EIP-1559 is a proposed change to transaction fees on the Ethereum blockchain.Before EIP-1559 was adopted, fees were based on a “first-price auction” model, where Ethereum users bid for the right to have their transactions included in the next block by offering to pay higher fees than others.
EIP-1559 proposes to replace this model with a “base fee” model, where there is a fixed base fee for each transaction, and a “tip” used to encourage miners to include the transactions in a block.
Since the implementation of EIP-1559, the Ethereum blockchain transaction fees are therefore dynamically adjusted according to network congestion, in order to maintain a consistent block time and reduce possible fluctuations in transaction fees.
In addition, EIP-1559 also includes a “burn” mechanism aimed at burning the basic transaction fees instead of sending them to the miner.which makes it possible, depending on the level of use of the Ethereum network, to reduce the total supply of Ether in circulation in the long term.
👉 See the list of all EIPs here
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