In a blog post published on 24th January 2022, Ethereum Foundation states that beyond protocol development, a critical shift in Ethereum has been the movement away from ‘Eth1’ and ‘Eth2’ terminology.

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The blog post claimed that core developers stopped using the terminology from late 2021, preferring ‘execution layer’ and ‘consensus layer’. This prompted Ethereum Foundation to also make the necessary shift as the major upgrade advances.

Ethereum Foundation highlighted further that the combination of the “execution layer” and “consensus layer” is known as Ethereum. The foundation emphasized that this change in terminology changes nothing in the roadmap to the major upgrade.

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Ethereum Foundation noted:

“The terms Eth1 and Eth2 (Ethereum 2.0) are being phased out. Execution layer (Eth1) and consensus layer (Eth2) are the new terminologies. The roadmap to scale Ethereum in a decentralized way remains the same. You don’t need to do anything.”

Why Is The Change Necessary?

In the blog post, the team stated that the retired terms (Eth1 and Eth2) are capable of confusing new users, noting that once the upgrade is complete, the only existing term will be “Ethereum”.

The team pointed out that users may “intuitively think that Eth1 comes first and Eth2 comes after. Or that Eth1 ceases to exist once Eth2 exists. Neither of these is true.”

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The team also noted that another major reason for the rebranding was to prevent new users from being scammed by con artists who could take advantage of the confusion in relation to the numeric terms used to represent Ethereum proof of work (PoW) and proof of stake (PoS) chains.

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The post The Term Ethereum 2.0 (ETH 2.0) Has Been Phased Out In Favor Of “Consensus Layer” appeared first on Times Tabloid.

Aya Miyaguchi, Executive Director of Ethereum Foundation, made this announcement on 14th December via her official Twitter handle.

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In the tweet, Miyaguchi acknowledged the importance of clients to the health and decentralization of the Ethereum network, making the newly launched program essential.

Aya Miyaguchi tweeted, “We strongly believe that a diverse set of clients is essential to Ethereum’s health and decentralization. To ensure that client teams have a long term incentive to maintain the network, the Ethereum Foundation has launched the Client Incentive Program.”

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According to Miyaguchi, the program is a means for the Ethereum community to indirectly appreciate the teams that focused on building, maintaining, and supporting the network.

“And although the name says “Incentive”, we hope that the program also symbolizes the appreciation the Ethereum community has for the teams who have remained focused on building and maintaining the public goods that support the network.”

What Teams in the Program Will Receive

To operate on mainnet, teams in the program will specifically receive a total of 144 validators each, which is equivalent to 4608 ETH, according to the blog post captioned in the announcement.

“The size of these grants recognizes both the excellent work performed over the past few years and the many development challenges expected well into the future. One team, whose client is more recently mainnet compatible than their peers, has been included in the program with a 50% stake.”

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The clients eligible for the program are, Besu, Erigon, Go-ethereum (geth), Lighthouse, Lodestar (50% stake), Nethermind, Nimbus, Prysm, and Teku.

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In an announcement on 5th October 2021, Danny Ryan invited all node operators of Ethereum 2.0 to upgrade their software to avoid the validator downtime penalty.

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In a blog post captioned in the tweet, Ryan stated that the Altair beacon chain (ETH2 initial phase) upgrade will be launched in mainnet at epoch 74240, which is expected to come on 27th October 2021 at 10:56 A.M. UTC.

Danny Ryan tweeted, “Altair Mainnet launch at epoch 74240 (Oct 27, 2021, 10:56:23am UTC)! Upgrade your nodes! Now, onward to the Merge.”

Altair Mainnet launch at epoch 74240 (Oct 27, 2021, 10:56:23am UTC)!https://t.co/fTxZBLQqJ5

Upgrade your nodes!

Now, onward to the Merge

— dannyryan (@dannyryan) October 5, 2021

In order to keep their nodes synchronized with post-Altair consensus, node operators need to upgrade their clients. Links to versions of software for all clients, including Lighthouse, Lodestar, Nimbus, Prysm, and Teku, are made available in the announcement.

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As with Ethereum 1.0 hard forks, end-users, ETH holders, contracts, and the state of the proof-of-work (PoW) network, are not affected by the updates.

Altair, the first Ethereum 2.0 upgrade is specifically designed to advance the economic logic of the network and to bring light client support for its core consensus.

The Merge Knocks

After the Altair upgrade, Ethereum 1.0 difficulty bomb removal will follow in December. After this, the full upgrade to proof of stake (PoS) known as The Merge will follow. This is probably happening next year with testnets coming first.

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The Merge is one of the most important aspects of the upgrade, in which miners will be completely removed to give way for validators. Due to this development, Ethereum will no longer inflate in supply by 4% a year, making the crypto asset become scarcer.

Thus, Altair is a vital upgrade in preparation for the much-awaited chains merging popularly known as The Merge.

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