Ethereum Improvement Proposal (EIP) is a document that illustrates the standards for the Ethereum platform, including the fundamental protocol features, contract standards, and client <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-api/">
APIs./n
The repository was launched in October of 2015 by a team of core developers including Martin Becxe, Hudson Jameson, and, of course, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/who-is-vitalik-buterin/">Vitalik Buterin</strong></a>.</p>\n<p>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:</p>\n<ul>\n<li>Draft: An EIP that is being considered openly.</li>\n<li>Last Call: After the fundamental consideration, an EIP is ready for review.</li>\n<li><strong>Final (Non-core):</strong> For approximately two weeks an EIP of being in the last call, all the technical worries have been managed.</li>\n<li>Final (Core): An EIP that Core devs approve or intend to implement in the future in a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-hard-fork-blockchain/">hard fork</strong></a>.</li>\n<li>Deferred: An EIP that will not be immediately implemented but is being considered to do so in the future.</li>\n</ul>\n<p>There are three main types of EIP in total:</p>\n<ul>\n<li>A Standards Track EIP</li>\n<li>A Meta EIP</li>\n<li>An Informational EIP</li>\n</ul>\n<p>A Standards Track EIP addressed the modifications that influenced most or all Ethereum implementations, as well as network protocol improvements.</p>\n<p>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.</p>\n<p>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.</p>\n<p>Besides these three main types, there are other ones out there. One of them is the <strong>Core EIP</strong> 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.</p>\n<p>Finally, the ERC EIP is an acronym for application-level standards, which include name registries and token specifications.</p>","level":"medium","meta_title":"What is Ethereum Improvement Proposal (EIP)? 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Pulls?","featured_image_id":6555,"status":"published","chapter_id":7,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-rug-pulls-in-crypto","featured_image":{"id":6555,"uuid":"80cbed9d-3b4b-45d9-9a85-d2d8108c0f32","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","path":"crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","original_path":"crypto/storage/media/how-to-avoid-rug-pulls.jpg","name":"how-to-avoid-rug-pulls.o.jpg","original_name":"how-to-avoid-rug-pulls.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"111.99KB"},"youtube_video":null},{"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto Taxes","featured_image_id":6526,"status":"published","chapter_id":7,"language":"en","order":11,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-crypto-taxes","featured_image":{"id":6526,"uuid":"1e44162c-ef1d-4010-81b4-9e8d1809aedf","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","path":"crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","original_path":"crypto/storage/media/how-to-avoid-crypto-taxes.jpg","name":"how-to-avoid-crypto-taxes.o.jpg","original_name":"how-to-avoid-crypto-taxes.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"99.10KB"},"youtube_video":null}]},{"id":8,"title":"Crypto Analysis","slug":"crypto-analysis","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-analysis.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-analysis-101.jpg","rating":100,"sections":[{"slug":"what-is-bullish-and-bearish","title":"Bearish and Bullish Markets: Do They Matter?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-bullish-and-bearish","featured_image":null,"youtube_video":null},{"slug":"best-technical-analysis-indicators-for-crypto","title":"5 Best Crypto Technical Analysis Indicators You Must Know About","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/best-technical-analysis-indicators-for-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-candlesticks","title":"Technical Analysis: What are Candlesticks, Trendlines, and Patterns?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-candlesticks","featured_image":null,"youtube_video":null},{"slug":"how-to-track-new-crypto-coins","title":"Crypto Tracking: How to Track Your Favorite Coins & 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Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":329,"original_id":null,"author_id":40,"translator_id":null,"title":"What is Ethereum Transaction?","slug":"what-is-ethereum-transaction","section":"E","keyword":"Ethereum Transaction","status":"published","definition":"Ethereum transactions are cryptographically signed instructions from accounts that are used to initiate transactions that affect the state of the Ethereum network.","content":"<p>The most simple transaction could be described as transferring <a href=https://www.bitdegree.org/"/crypto/buy-ethereum-eth/">Ethereum-based assets from one that happens from one ETH account to the other.</p>\n<p>On the Ethereum blockchain, users may conduct three sorts of transactions. A typical transaction in which an Externally Owned Address (EOA) delivers ETH to another EOA. Token transfers are transactions involving <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-erc-20/">ERC-20 or <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-erc-721/">ERC-721 </strong></a>tokens. An internal transaction is an ETH transfer that is facilitated by a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contract</strong></a> acting as an intermediary.</p>\n<p>From a cryptocurrency perspective, an Ethereum transaction is the action that is emphasized by an externally-owned account, controlled by a human and not a contract.</p>\n<p>For example, if Stacy sends 5 ETH to Jennifer, her account must be debited and Jennifer's account must be credited. When this state changes, an action is taken in the form of a transaction. Based on Ethereum’s regulations of consensus, the network confirms the transaction as a valid one and then gets added to a block that is then added to the blockchain.</p>\n<p>Speaking of terminology, the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-gas-limit/">gas limit</strong></a> is the maximum amount of gas that may be consumed by a transaction. The <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-gas-price/">gas price</strong></strong></a> is the amount of money that the sender will pay for each unit of gas. A nonce is a sequence number that is unique to each sender and must fit the next accessible sequence number.</p>\n<p>Furthermore, the value represents the amount of Ether to be sent from the sender to the recipient, which might be zero. In contrast, the receiver is the account address to which the transaction is ultimately transferred.</p>\n<p>Finally, the data is an extra arbitrary binary data, where the contract's <strong>bytecode</strong> is delivered throughout the contract implementation.</p>","level":"easy","meta_title":"What is Ethereum Transaction? Definition & Meaning | Crypto Wiki","meta_description":"Ethereum Transaction meaning: Ethereum Transaction - Ethereum transactions are cryptographically signed instructions from accounts that are used to initiate transactions that affect the state of the Ethereum network.","meta_keywords":null,"language":"en","created_at":"2022-03-14T14:21:13.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-ethereum-transaction"},"prevSection":{"id":327,"original_id":null,"author_id":40,"translator_id":null,"title":"What is ERC-884?","slug":"what-is-erc-884","section":"E","keyword":"ERC-884","status":"published","definition":"Each ERC-884 token determines a particular share in a Delaware company, following the standard of David Sag.","content":"<p><strong>ERC-884 refers to the creation of tradable <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-erc-20/">ERC-20 tokens.</strong> Each token determines a particular share in a Delaware company, following the standard of David Sag. The ERC-884 token is developed to represent equity issued by a public or private Delaware corporation.</p>\n<p>As a result of the new regulations, organizations based in the US state of Delaware are now able to use blockchain technology to control share registrations.</p>\n<p>Since ERC-884 tokens are ERC-20 compatible, they can be traded on any cryptocurrency <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-exchange/">exchange that manages the ERC-20 tokens exchanges. <strong>It also removes the need for the companies to employ an initial mechanism.</strong></p>\n<p>By using an ERC-884 token, a company may be able to raise capital, either through an IPO or a private equity sale, in accordance with Delaware Corporations Law, while avoiding the requirement for a customized share register.</p>\n<p>There are quite a few <strong>regulations</strong> surrounding the ERC-884 token. For instance, tokens can’t have a partial value, only their full value. Meaning that every ERC-884 coin has to mirror a different uncountable share that has been paid for. Information on not fully paid shares doesn’t require tracking.</p>\n<p>In addition, it is enough to be aware that a shareholder has a particular amount of tokens, referring that the ERC-884 token doesn’t have to be connected to a particular quantity of shares.</p>\n<p>The identities of every token holder’ have to be verified, as well as <strong>whitelisted.</strong> Nevertheless, there is no additional <strong>crowdsale contract</strong> to safeguard the owner of the token whitelisting. Regardless, the ERC-884 needs whitelisting for every token holder.</p>\n<p>Also, adopting ERC-884 requires the use of an off-chain database to satisfy the <strong>\"<a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-know-your-customer-kyc/">Know Your Customer</a>\"</strong> criteria. The implementer must retrieve the identity and physical address of any <strong>ETH</strong> address, hash that data, and connect the produced hash to the hash stored in the contract using the hashing algorithm.</p>\n<p>In other words, the implementer is making sure of the cohesion of their information. </p>\n<p>The organization can consolidate a list of shareholders. As for the regulatory regulations, it has to give permission for the organization to develop the shareholder list that is required. Recording the data and share trades is also required by regulators.</p>\n<p>Finally, if shareholders <strong>lose their <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-private-key-secret-key/">private keys</a> or tokens</strong>, they must move them to a new address. This is a system requirement in order for their address to be revoked and their tokens to be re-issued to a new address.</p>","level":"medium","meta_title":"What is ERC-884? Definition & Meaning | Crypto Wiki","meta_description":"ERC-884 meaning: ERC-884 - Each ERC-884 token determines a particular share in a Delaware company, following the standard of David Sag.","meta_keywords":null,"language":"en","created_at":"2022-03-14T14:06:37.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-erc-884"},"currentChapter":"E","currentSection":"what-is-ethereum-improvement-proposal-eip","chapterTitle":"E","readingLevel":"medium"},"url":"/crypto/learn/crypto-terms/what-is-ethereum-improvement-proposal-eip","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter E
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.
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.
