Thursday, February 22, 2024

Upgrade Ethereum to new extreme levels

Upgrade Ethereum to new extreme levels

The Ethereum we know and love is more scalable, more secure, and more sustainable

What are Ethereum upgrades?

The blueprint for the future of Ethereum entails interconnected protocol enhancements that will make the network more scalable, more secure, and sustainable. These improvements are being developed by various teams within the Ethereum ecosystem.

Upgrade Ethereum to new extreme levels

What needs to do?

If you are a data user or ETH holder, you do not need to do anything. If you are a developer or want to start betting, you can get involved in different ways today.

The vision

To incorporate Ethereum into society and serve all people, we must make it more scalable, secure, and sustainable.

more scalable

Ethereum needs to support thousands of transactions per second to make applications faster and cheaper to use.

Safer

Ethereum needs to be more secure. As Ethereum adoption increases, the protocol needs to be more secure against all kinds of attacks.

more sustainable

Ethereum needs to be better for the environment. Nowadays technology consumes too much energy and computational power.

Immerse yourself in the vision

How to make Ethereum more scalable, secure, and sustainable? All this while maintaining the core spirit of decentralization of Ethereum.

What happened to “Eth2”?

The term “Eth2” is being phased out in preparation for the merger. More information about the merger.

After merging “Eth1” and “Eth2” into a single chain, there will not be two distinct Ethereum networks; only Ethereum will exist.

To avoid further confusion, the community has updated these terms:

“Eth1” is now the “execution layer”, which handles transactions and execution.

“Eth2” is now the “consensus layer”, which handles proof-of-stake consensus.

These terminology updates only change the nomenclature, they do not alter the goals or roadmap of Ethereum.

Why can’t we use Eth2?

mental patterns

A major problem with the term Eth2 is that it creates a disjointed mental model for new Ethereum users. They intuitively believe that Eth1 is the first to be created and that Eth2 comes after. Or that Eth1 ceases to exist once Eth2 appears. 

None of these statements is true. By removing the term Eth2, we avoid the confusion that future users would have to reason through this confusing mental pattern.

inclusivity

As the Ethereum roadmap has evolved, Ethereum 2.0 has become an inaccurate representation of the Ethereum roadmap. The careful choice of words allows Ethereum content to be understood by the audience.

Fraud prevention

Unfortunately, malicious people have tried to use the wrong name of Eth2 to scam users, telling them to exchange their ETH tokens for “ETH2” or to somehow migrate their ETH before upgrading to Eth2. 

We hope this updated terminology provides clarity to eliminate this scam risk and help make the ecosystem safer.

Clarity in betting

Some staking operators have also represented the ETH staked on the beacon chain with the label “ETH2”. This is a potential source of confusion since users of these services are not receiving an “ET2” token. There is no “ETH2” token; it simply represents your stake in those specific providers.

FAQ? Frequently Asked Questions

When will the updates be sent?

Ethereum is being upgraded progressively; updates are different with different shipping dates.

What to do with my app?

Your app will not be affected by any impending updates. However, future updates may require some changes.

How do I prepare for updates?

You do not need to do anything at this time to prepare for the upgrades.

What is the execution layer?

The main Ethereum network on which transactions take place today was previously called “Eth1”. This term is currently being displaced by the “execution layer”.

Who is taking care of Ethereum updates?

There are numerous different teams from across the community working on the various updates to Ethereum.

Leave a Reply

Your email address will not be published.