Microsoft has lifted the lid on the rebranding of its SkyDrive consumer product. Going forward you will now see OneDrive replacing SkyDrive on the web and with any apps you might have on your devices.
The requirement to rebrand has all come about due to issues around the name SkyDrive and a previously existing product owned by BSkyB in the UK. Microsoft agreed to rebrand its product and has been allowed to do so within a certain time frame.
Thus, if you are already using SkyDrive then you will see a transition to OneDrive. Your login will remain the same and the next time you update all your apps they will all become Onedrive apps so there is not much to do except update.
The more interesting transition will be from SkyDrive Pro to OneDrive for business as this will affect all current SharePoint users including those using Office 365 SharePoint Online. This is probably going to take longer to complete.
It will be interesting to see what other changes or improvements Microsoft bring to OneDrive to help it stand out from the crowded web storage space.