As a researcher with a keen interest in the intersection of technology and security, I find this development by Fabric Cryptography truly intriguing. Having spent years delving into the complexities of cryptographic algorithms and their applications, I can appreciate the potential impact of their Verifiable Processing Unit (VPU).
Fabric Cryptography, a Silicon Valley-based startup, has raised $33 million in their Series A funding round for the development of a dedicated chip aimed at enhancing data confidentiality and protection.
The competition was jointly spearheaded by Blockchain Capital and 1kx, with contributions from Off-chain Labs, Polygon, and Matter Labs. This is a continuation of a $6 million seed round that was previously led by Metaplanet, involving investors such as Inflection and Liquid2 Ventures.
1/ It’s with great excitement that we share the news: Fabric Cryptography has secured a massive $33 million in Series A investment! This funding will propel us forward as we speed up the development of advanced cryptography tasks using our versatile chip, the Verifiable Processing Unit (VPU).
— Fabric Cryptography (@FabricCrypto) August 19, 2024
As per a declaration made in August, Fabric Cryptography is developing a specialized chip named the Verifiable Processing Unit (VPU). This chip is being designed to perform cryptographic tasks more effectively than typical CPUs and GPUs, as these are not optimized for the intricate calculations required in cryptography.
Moreover, the design of the VPU (Video Processing Unit) is customized to divide complex cryptographic functions into smaller components, which facilitates quicker and less expensive computation.
The business was established by Michael Gao, Tina Ju, and Sagar Reddy, who previously studied at MIT and Stanford. As stated by Gao, numerous sophisticated cryptographic algorithms hold great promise for delivering robust security and trust, but they often demand hardware capable of running them efficiently – a challenge that current processors frequently struggle to meet.
1) It’s worth noting that the VPU (Visual Processing Unit) has been drawing significant attention within the blockchain industry. This is because there’s growing interest in privacy and security solutions, with technologies like zero-knowledge proofs being key drivers. Intriguingly, Fabric Cryptography has disclosed that it has received a substantial number of pre-orders from the Web3 sector, suggesting robust demand for its technology.
Beyond just the hardware, the company is also crafting software solutions aimed at making it simpler for developers to work effectively with the Virtual Processing Unit (VPU). Dr. Wei Dai, a renowned cryptographer at 1kx, underlined that the VPU’s design ensures adaptability, allowing it to stay in sync with emerging breakthroughs in cryptography. Fabric Cryptography anticipates rolling out the chip by the end of this year.
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2024-08-20 02:28