The Ethereum Foundation has removed all references to Eth1 and Eth2, changing Eth1 to the “Execution layer” and Eth2, an upgrade to Proof of Stake, the “Consensus layer.”
Ethereum’s Long-awaited Transformation from the Mining Model Proof-of-work to be a consensus mechanism Proof-of-Stake (PoS) is expected to become available in the second or third quarter of this year.
And on January 24, the Ethereum Foundation announced the names of ETH1.0 and ETH2.0 to the ‘Execution layer’ and ‘Consensus layer’ respectively, citing a number of reasons including: Prevents confusion for new users. and prevent fraud
“One of the major problems with the Eth2 branding is that it creates a confusing path for new Ethereum users, either thinking that Eth1 comes first and Eth2 follows, or that Eth1 stops working when Eth2 goes live.”
“These things are not true. So removing the Eth2 terminology will save future users from getting confused,” the blog post added.
Under the new term, the combination of execution layer (Eth1) and consensus layer (Eth2) would be labeled as Ethereum, while individual features such as beacon chain, merge, and shared chains would now be referred to as “upgrades.”
The Ethereum Foundation also stated that the Eth2 rebranding will help “clear to eradicate” scams that will lure victims. Without realizing that their Ether (ETH) will automatically convert to Eth2 in order to exchange Ether (ETH) for fake ETH2 tokens.
“Unfortunately, malicious people try to use the name Eth2 to deceive users. By tricking them into converting their ETH to ‘ETH2’ tokens or that they need to migrate their ETH before Eth2 can be upgraded.”
refer : LINK
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