Goodbye Eth2, hello consensus layer. Ethereum’s long-awaited transition from a proof-of-work mining model to a PoS consensus mechanism undergoes a rebrand before it is goes live later this year.
The Ethereum Foundation has removed all references to “Eth1” and “Eth2” in favor of calling the original blockchain the “execution layer” and the upgraded proof-of-stake chain the “consensus layer.”from a proof-of-work mining model to a PoS consensus mechanism is expected to go live in either the second or third quarter of this year.
“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.” Under the new terminology, the combination of the execution layer and the consensus layer will be labeled as Ethereum, while individual features such as the Beacon Chain, merge and sharded chains are now referred to as “upgrades.”The foundation also stated that its rebranding of Eth2 would help “bring clarity to eliminate” scams in which malicious actors dupe victims — unaware that their Ether will automatically switch to Eth2 following the merge — into swapping ETH for fake “ETH2” tokens.
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