With release of Magento 2 earlier on November 2015, Magento announced that it will stop providing support for the Magento 1 community edition for security patches. This enforced several store owners to move/ migrate their store from Magento 1 to Magento 2. It was cutting a lots of amount for small store owners and they were enforced to move at another platform. But Magento has recently announced that they are extending their support for Magento community edition till June 2020.
This has shown that Magento cares about their customers and why Magento is the first choice for store owners. This step of the community will increase reliability among its small, medium and large store owners.
However, Magento encouraging its user to switch from Magento 1 to Magento2. Magento Commerce 2 delivers superior cloud-hosted performance at scale, freedom from IT bottlenecks with creating, scheduling and launching compelling content, and true business intelligence capabilities.
In these years Magento 2 has developed a strong community and as a result, Magento marketplace has more than 2000 extensions and has more than 8,000 new quarterly Magento 2 site launches on top of 30,000 existing Magento 2 sites, according to the official page of Magento.
With the upcoming version of Magento, we have a new opportunity to explore like GraphQL, PWA etc. So the future will be lightning-fast for eCommerce development.