What Are Ethereum Improvement Proposals (EIP)

So recently I came across a phrase EIP-4844 and I was curious about it so I had to read about what it entails, from my findings I was made to understand that EIP are technical proposals which was introduced by the Co-founder of the digital asset Vitalik Buterin. The EIP 4844 proposal is one of these proposals, these proposals are due to the continuous evolving of the etherum network.

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“EIP” what does it mean? Ethereum Improvement Proposals (EIP) are proposals submitted by programmers for the ecosystem, and they aim to create new standards and add features to the Ethereum network. An interesting fact of these proposals is that not only the developers can create, the users too can also create these proposals by following guidelines on creating one.

The major aims for EIP’s is improving efficiency in the organization of transactional data on the ethereum blockchain, which lies down to the creator being responsible for any proposal it creates and EIP’s contains brief technical description of the feature and the reason behind it. I think the most popular one which we may know is the EIP 4844.

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LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
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Also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.

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