The name 'Eth1 / Eth2' used in the virtual currency Ethereum will be phased out, what is the impact on users?
The Ethereum Foundation has announced that it will change the names 'Eth1' and 'Eth2' that were previously used in the virtual currency Ethereum. With this change, Eth1 will be called 'execution layer' and Eth2 will be called 'agreement layer', and the reason for the name change and the impact on users are explained.
The great renaming: what happened to Eth2? | Ethereum Foundation Blog
The Ethereum platform originally adopted the Proof of Work System (PoW). PoW in virtual currency is a mechanism in which coins are given to those who have performed more calculation processing. However, it has been pointed out that PoW tends to concentrate power on people who have machines with high computing power. Therefore, the Proof of Stake (PoS) was newly devised, in which not only the amount of calculation processing but also 'holding more and longer virtual currencies' affects the reward conditions.
The Ethereum migration roadmap to PoS is as follows: The plan started in January 2020 and will be upgraded by the end of 2022.
Until now, Ethereum has called the PoW chain before the upgrade 'Ethereum 1.0 / Eth1' and the PoS chain after the upgrade 'Ethereum 2.0 / Eth2'. However, the Ethereum Foundation has announced that the names Eth1 and Eth2 will be phased out as they have branding problems.
Ethereum points out four issues: 'mental model,' 'inclusiveness,' 'scam rampant,' and 'staking confusion.'
◆
The mental model is the image in people's minds that 'it will be like this'. The names Eth1 and Eth2 make the recipient of the information imagine 'Eth1 comes first and Eth2 comes after'. However, in reality, Eth1 does not precede Eth2, and Eth1 does not disappear even after it becomes Eth2, so this name was judged to be confusing.
◆ Comprehensiveness
As the Ethereum roadmap became clearer, the original expression 'Ethereum 2.0' became inaccurate. Actually, as shown in the figure below, the combination of Eth1 and Eth2 is Ethereum, so it was judged that the expressions Eth1 and Eth2 lack inclusiveness.
◆ Fraud rampant
In the market, fraudulent methods that malicious attackers say 'Eth needs to be exchanged for Eth2 tokens' are rampant. By abolishing the terms Eth1 and Eth2, it seems that such fraud can be prevented.
◆ Confusion of staking
Part of the staking operator than be expressed as 'Eth2' the Eth that has been staking, things that cause confusion to the user.
To deal with these problems, the Ethereum Foundation took the method of 'renaming Eth1 and Eth2.' The specific changes are as follows.
・ Eth1 → Execution layer
・ Eth2 → Consensus layer
・ Execution layer + agreement layer = Ethereum
This change will not change the Ethereum roadmap. On the other hand, note that the content name has changed, such as the Ethereum resource 'ethereum.org/en/eth2' becoming the 'Ethereum Upgrade' section. All the Eth2 explanation pages created so far have been updated, and explanations are written as needed.
Ethereum upgrades (formerly'Eth2') | ethereum.org
https://ethereum.org/en/upgrades/
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in Note, Posted by darkhorse_log