“By removing the term Eth2, we save all future users from navigating this confusing mental model,” stated the Ethereum Foundation.
News
The Ethereum Foundation has removed all references to Eth1 and Eth2 in favor of calling the original blockchain the “execution layer” and the upgraded Evidence of Stake chain the “consensus layer.”
Ethereum’s long-awaited transition from Evidence-of-get the job done mining model to Evidence-of-Stake (PoS) consensus mechanism is expected to launch in Q2 or Q3 of this year. now.
Announcing the change, the platform cited a number of reasons including “broken mental model for new users”, fraud prevention, inclusion, and clarity.
24, Ethereum Basis noted that Eth2’s branding failed to capture exactly what was happening to the network through its series of upgrades:
“A big problem with the Eth2 brand is that it creates a broken mental model for new users of Ethereum. Intuitively they think that Eth1 comes first and Eth2 comes later. Or that Eth1 ceases to exist after Eth2 exists. ”
“Neither of these is true. By removing the term Eth2, we save all future users from navigating this confusing mental model,” the blog post adds.
Under the new terminology, the combination of the execution layer (Eth1) and the consensus layer (Eth2) will be labeled as Ethereum, while individual features such as signaling chains, merging chains, and sharing are now referred to as Ethereum. is “upgrade”.
The organization also claims that the Eth2 rebranding will help “bring clarity to eliminate” scams in which bad actors defraud victims – unaware that their Ether (ETH) will automatically moving to Eth2 after the merge – into an Ether (ETH) swap for a fake ETH2 token.
“Unfortunately, the malicious actors tried to use the misspelled Eth2 to scam users by asking them to swap their ETH for the ‘ETH2’ token or somehow they have to move the ETH. mine before upgrading Eth2,” the post reads.
The news saw a relatively lukewarm response in the r/Ethereum subreddit, with most users joking about the change or complaining about how long the consolidation took place.
Redditor ghfsgiwaa said: “Don’t care what you call it, just deliver it soon.
User Kristkind says the rebranding effort has come “too late,” noting that the term Eth2 has been widely accepted by the media and users:
“Everybody in the media, even crypto-related ones, runs with the term 2. or simply Eth2. And honestly, I think it’s better that way, because [it’s] easier way to get for the (semi) layer, than the ‘consensus layer’, needs you to understand the architecture of the network. ”
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After the consolidation and transition to PoS is scheduled for the end of the year – in fact at this point – the remaining milestone in Ethereum’s current roadmap is the shard chain upgrade that will come into effect at the end of 2022. / beginning of 2023.
The advent of shard chains will see Ethereum’s network payload spread across 64 new chains to enhance its scalability and capacity.
While 2022 is essentially a bullish year for Ethereum, the price of Ether has been hit hard amid the current downturn in the stock and crypto markets, dropping 40% in the past 30 days to about $2,437 left at the time of writing.
This is not 2018.
In 2018 we don’t have: Layer 2, eth2, DeFi, NFT, core developer funding and much more.
The market will market but I feel comfortable.
– eric.eth (@econoar) January 24, 2022