EIP
An Ethereum Improvement Proposal is a formal document used to suggest, discuss, and standardize changes to the Ethereum network or ecosystem.
An EIP, or Ethereum Improvement Proposal, is the standard way developers and community members propose changes to Ethereum. It describes a technical idea in a structured format so others can review, debate, test, and refine it. EIPs can cover core protocol changes, networking updates, application standards, or process improvements. Not every EIP becomes part of Ethereum; proposals usually go through discussion and review before being accepted, rejected, withdrawn, or replaced.
EIPs matter because Ethereum is an open-source network with no single company deciding all upgrades. They create a public record for how changes are designed and agreed on. For example, ERC-20, the widely used token standard, began as an EIP that defined common rules for fungible tokens so wallets, exchanges, and apps could support them consistently. In practice, EIPs help coordinate upgrades and standards across a large ecosystem, similar to how technical standards help different web browsers interpret the same internet protocols.
Other terms in Ethereum
Account Abstraction (ERC-4337)
A way for Ethereum wallets to act like smart contracts, enabling features such as gas sponsorship, account recovery, and custom transaction rules.
Beacon Chain
Ethereum’s proof-of-stake coordination layer that organizes validators and finalizes blocks for the network.
ERC-1155
An Ethereum token standard that lets one smart contract create and manage multiple token types, including fungible tokens, NFTs, and semi-fungible items.
ERC-20
A widely used Ethereum token standard that defines common rules for creating and interacting with fungible tokens.