Ethereum Foundation Kills ‘ETH 2.0’ in Favor of ‘Consensus Layer’ Rebrand


In transient

Tactics have modified for the reason that Ethereum 2.0 roadmap was first developed.
Developers are altering their terminology to replicate these shifts.

The excellent news for builders is that the subsequent time somebody (normally a reporter) asks them when Ethereum 2.0 is coming, they will have a solution: Never.

The dangerous information? They’ll need to get a bit technical to elucidate why.

The Ethereum Foundation right this moment, following the lead of the blockchain’s core builders, introduced that the time period “Ethereum 2.0” is being retired in favor of “consensus layer.”

The rebrand displays the truth that what’s been referred to as Ethereum 2.0 is admittedly extra of a community improve moderately than a complete new community. To make certain, some main issues are nonetheless set to alter. Ethereum is shifting away from proof of labor to a extra scalable proof-of-stake chain. And mining, through which high-powered computer systems related to the community compete to validate transactions in order that they may mint new ETH for themselves, can also be on its approach out.

But some components of the present community—primarily on the software program consumer degree—are being retained and merged with newer elements. Henceforth, Eth1 can be generally known as the “execution layer” and Eth2 would be the “consensus layer.” Whereas the execution layer is the place all of the good contracts and community guidelines reside, the consensus layer makes positive all of the gadgets contributing to the community are appearing in keeping with the foundations—and penalizing people who do not. Together, the 2 layers will merge into simply plain ol’ Ethereum after the consensus layer is able to substitute the present mining system.

As the Ethereum Foundation, a nonprofit that helps coordinate and fund technical developments on the Ethereum blockchain, notes in its weblog submit, this shift all took place organically. 

Phase 0 of what was beforehand referred to as Ethereum 2.0, the beacon chain, went dwell in December 2020. The beacon chain was designed to coordinate staking, a course of by which Ethereum customers lock up their ETH in a sensible contract (form of like how folks would possibly purchase a long-term authorities financial savings bond) to assist safe the community. In alternate, they earn a yield on their funding. 

But the beacon chain was prepared nicely earlier than different components of Ethereum 2.0, all of which prompted what the inspiration calls “a revival of research initiatives on the proof-of-work chain.” Ultimately, developer Danny Ryan posited a approach for present Ethereum consumer software program to hasten the transfer to proof of stake with out having emigrate away from the present community.

In reality, Ethereum devs have been quietly shifting away from the Eth2 terminology since final summer time because the specifics of the proof-of-stake transfer got here into clearer focus.

Though nothing actually modifications by way of the roadmap—staking and sharding to ease community congestion are nonetheless on the way in which—the inspiration says the rebrand will assist keep away from scams, equivalent to folks getting hoodwinked by these telling them to alternate their ETH for ETH2, whereas taking away the impression that the community is totally completely different.

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