In ethereum software development, an EIP, or ethereum improvement protocol, is the process by which code changes get accepted onto the platform.
To add new features to ethereum, software changes are executed in the form of platform-wide upgrades (sometimes called hard forks), but to get to this stage, proposals are subject to a rigorous acceptance process, consisting of roughly four steps:
->First, if a developer has an idea for a software change, it should be presented as a pull request. As a pull request, changes can be easily made onto the proposal, and community feedback is welcomed. Here, it also falls under the scrutiny of the EIP editors.
->If the EIP editors find the request to be technically correct and in tune with the "ethereum philosophy," they can "merge" it as the draft into the next stage.
->Once merged, software implementations, in the form of various ethereum clients such as Geth and Parity, can occur, and if they work, the proposal can be finally "accepted."
->Once accepted, the platform can be updated with the EIP-- providing the various nodes running ethereum software decide to upgrade.
->However, in this process, EIP 867 is a little different. For one, it doesn't propose any software changes in itself, but simply documents a framework for proposals to follow.
Founder of ethereum, Vitalik Buterin, wrote on Twitter:
"To those who thought that the DAO fork set an unbounded slippery slope and lasting precedent, I encourage you to see the reactions on this thread."