EIP stands for Ethereum Improvement Proposal. It's a design document that proposes new features or processes to improve the [[Ethereum]] blockchain. Anyone from the Ethereum community can create an EIP, which then goes through a rigorous review process involving discussions, revisions, and ultimately a community consensus before being implemented. EIPs cover a wide range of topics, from core protocol upgrades and security enhancements to new token standards and client API specifications. They serve as a standardized way to document and discuss proposed changes, ensuring transparency and collaboration in the development of the Ethereum network. Also refer to [[Bitcoin Improvement Proposal (BIP)]] for [[Bitcoin]] Improvement Proposals.