In an attempt to avoid confusion in the future over terminology on its network, the second-largest blockchain, Ethereum, has scrapped old terms like “Ethereum 1.0” and “Ethereum 2.0,” replacing them with new branding.
No more “ETH 2.0”
Ethereum Foundation disclosed this crucial move in a blog post that it would no longer use the terms “ETH 1.0” and “ETH 2.0” to describe the upgrades ongoing on the blockchain.
According to the developers, the upgrades will now be referred to as the “execution layer” and “consensus layer.”
This means that ETH 1.0, the current network consensus that is better known for its reliance on the Proof-of-Work (PoW) mechanism, will be known as the “execution layer.”
On the other hand, the much anticipated ETH 2.0 upgrade, which uses a Proof-of-Stake (PoS) mechanism, will henceforth be known as the “consensus layer.”
Ethereum developers have been working on upgrading the current PoW mechanism to unite it with the PoS chai
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