Recently, the Ethereum foundation stated:
By removing Eth2 terminology, we save all future users from navigating this confusing mental model.
Ethereum is expected to transition from the old-school Proof-of-work mining version to Proof-of-stake at some point this year. Moreover, by removing links to Eth1 and Eth2, they can call the upgraded Proof of Stake chain the “consensus layer”, and the original blockchain “execution layer”.
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As the Ethereum co-founder said “We are 50% of the way there”. Ethereum needs to be more agile in terms of blockchain data, so more individuals can manage and use it.
Several logical reasons were pointed out like scam prevention, staking clarity, and a “broken mental model for new users”. Additionally, one blog post by the Ethereum Foundation pointed out how the branding of Eth2 didn’t manage to address what goes down to the network along with various updates:
One major problem with the Eth2 branding is that it creates a broken mental model for new users of Ethereum. They intuitively think that Eth1 comes first and Eth2 comes after. Or that Eth1 ceases to exist once Eth2 exists.
They also stretched their concerns about the confusing navigation in the Eth2 terminology, and how they will change that by removing it.
The difference is that the beacon chain and other individual features will merge and the shared chains are just “upgrades”. Besides that, the execution layer and the consensus layer will be classified as Ethereum.
Speaking of safety, the rebranding might help to eliminate or control scams, by bringing clarity. How it happened before, is that the bad-intentioned hoax victims had no idea their Ether is switching automaticaly to Eth2, and then swapping Eth2 for fake tokens took place.
The news were quickly transferred to Reddit, and the users complained about the length of time the merge was taking or had unmoved, sarcastic comments about the change.
Other users like Kristkind noted that the media and users are very used and to the Eth2 term, and it’s very widely adopted, so it might be “too late” for a change:
Everybody in the media, even the crypto-related one, runs with the term 2.0 or simply Eth2. And honestly, I think it is better that way, because [it’s] way easier to get for the (semi-)layperson, than ‘consensus layer’, which needs you to understand the architecture of the network.
The milestone of Ethereum’s rodemap that still remains - the shard chains upgrade, that should improve Ethereum’s scalability and capacity. Of course, following the transition to PoS (Proof-of-Stake) - an alternative to Proof-of-Work for owners offering their coins as collateral for the chance to validate blocks.
As user “econoar” stated in tweet - we have so much more than we did in 2018.
The price of Ether has taken a heavy hit in the middle of the current downturn across crypto markets. To be exact, the price dropped 40% over the past 30 days and states at approximately $2,437.
