Answer Posted / narayansahu

gacutil is a toll that will list, install, and uninstall
assemblies in the GAC.

Assemblies are of two types: application private and
shared. The default is application private and only one
application uses them. These are the assemblies that are in
the application folder. A shared assemblies is meant to be
used by more than one application. It has a globally unique
name (called a "strong name") and it must be defined in the
GAC. gacutil will list, install, and uninstall assemblies
in the GAC.

Will the name change be reflected in any of the existing .net framework 2.0 apis, assemblies, or namespaces?

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