Ethereum Its developers continue to work on scalability to keep up with global demand by making improvements in security and decentralization. In addition to these studies, ETH developers also stop using terminologies such as “ETH 1.0” and “ETH 2.0”. This development was actually mentioned in the altcoin’s first quarter roadmap for 2022. As of today, it will be fully implemented.
With the changes, the new names will appear as follows:
ETH 1.0 → application layer
ETH 2.0 → consensus layer
The name Ethereum will henceforth be referred to as the sum of the application layer (ETH 1.0) and the consensus layer (ETH 2.0). The developers stated that Ethereum investors do not need to take any steps on this issue.
Where Did the Term Ethereum 2.0 Come From?
As a matter of fact, Ethereum has always announced improvements in network scalability and the transition to the “Proof of Stake” mechanism as part of its roadmap. Previously, the developers worked on these two areas separately, and around 2018, the two areas were combined and named “ETH 2.0”.
altcoin According to the roadmap for its development, ETH 1.0, a “Proof of Work” chain, will eventually be eliminated using a difficulty bomb. Users and applications on the network will be migrated to the new Proof of Stake Ethereum chain, formerly known as ETH 2.0.
So Why Was This Change Made?
According to the developers, the name ETH 2.0 was perceived as confusing for newcomers to the market. New users naturally thought that ETH 2.0 would be used after ETH 1.0 or that ETH 1.0 would no longer exist with the transition to ETH 2.0. However, according to the developers, both of these assumptions are not correct.
As ETH’s roadmap took shape, the developers realized that the concept of ETH 2.0 did not accurately reflect this roadmap. Managers think that choosing the right word is important for ETH to be understood by a wider audience.
However, the name ETH 2.0 was also abused by some scammers. Scammers are giving false information that investors should switch to ETH 2.0. cryptocurrency seized the tokens of its users.