What is EIP 1973 and how can it Impact Decentralized Applications

By its very nature, Ethereum, just like any permission-less blockchain is open sourced. This means that the underlying code that creates this decentralized infrastructure is open and accessible for anyone to look at, review, and contribute to. This represents the culmination of the individual efforts of tens, if not hundreds of developers around the world. Such distributed collaboration is no easy feat. So how does this community structure the process by which new ideas are proposed, vetted, and eventually implemented onto Ethereum’s mainnet? Through an improvement process known as EIPs (Ethereum Improvement Proposals).

There are some well-known EIPs like ERC20 which is for token issuance, EIP721, which is for non-fungible tokens and rose to popularity through the CryptoKitties project. Lastly is EIP145, which is specifically designed for Ethereum Hard Forks. Although EIPs are an open-sourced protocol that anyone can contribute to, getting your EIP approved is still a rigorous process. Highly established projects such as Polymath (ERC-1400) have only gotten their EIPs to the Draft and Pull Request stages respectively. This speaks volumes to the demanding evaluation process required to get an EIP approved. Although EIPs are an open-sourced protocol that anyone can contribute to, getting your EIP approved is still a rigorous process. Highly established projects such as GitCoin (ERC-1081) and Polymath (ERC-1400) have only gotten their EIPs to the Draft and Pull Request stages respectively. This speaks volumes to the demanding evaluation process required to get an EIP approved.

Original source
https://ethereumworldnews.com/what-is-eip-1973-and-how-can-it-impact-decentralized-applications/

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