eips

What are EIPs?

2:41 AM, February 12, 2023

Blockchain

Mohammad Mudassir


Ethereum's EIPs are a key part of the Ethereum ecosystem and are used to propose and implement upgrades to the Ethereum network. These upgrades are designed to improve the network's performance, security, and scalability, among other things.

EIPs provide detailed instructions for the suggested improvements and serve as a reliable source of information for the Ethereum community.

Here are some of the most anticipated EIPs on the horizon:

EIP-1559: This EIP proposes a new fee market mechanism for the Ethereum network that aims to improve its efficiency and reduce transaction costs.

EIP-3074: This EIP aims to improve the scalability of the Ethereum network by introducing a new mechanism for compressing data storage in smart contracts.

EIP-3298: This EIP proposes a new method for upgrading the Ethereum network, allowing for faster and more seamless upgrades in the future.

EIP-2021: This EIP proposes the introduction of a new gas cost model for the Ethereum network, designed to improve the network's efficiency and reduce the cost of executing smart contracts.