The meaning of the name is explained by the Bible text. Likely it has the implication that the Lord is God in both Canaan (west of the Jordan) and Gilead (east of the Jordan). Thus it does not matter where you live, east or west, the Lord is God and he alone is to be worshipped.1
34 Les fils de Ruben et les fils de Gad appelèrent l'autel Ed, car, dirent-ils, il est témoin entre nous que l'Eternel est Dieu.