Ethereum Foundation and Filecoin Finance initiative, aimed at creating specialized equipment for Ethereum 2.0, according to CoinDesk.
About the new project it became known from the speech of the researcher Ethereum Foundation Justin Drake during the Devcon in Prague. He provided some technical information on the new ASIC devices that support the upcoming launch of Ethereum-a technology called Beacon chain.
The decision is, in fact, a random number generator, which will be element of a new stage in the development of Ethereum 2.0 on a consensus algorithm Proof-of-Stake (PoS).
As you know, the term “ASIC” is generally associated with specialized equipment for mining cryptocurrency. However, in Ethereum 2.0 this solution will be used in a slightly different process that does not require intense computations typically associated with significant capital costs of equipment.
New ASIC devices will run less asset-intensive operation — the so-called delay function provable (Verifiable Delay Function). The latter will provide mixing of validators, which will replace miners in the new system Ethereum. The stirring will eliminate the possibility of uniting organizations and individuals to seize control over the network.
According to Drake, the preliminary project cost is 20 to 30 million US dollars. In particular, $15-25 million needed for research and development (R&D) and $5 million on production of approximately 5 thousand units.
Ethereum Foundation and collected more than $250 million during the ICO project Filecoin will share equally the costs of R&D. the organization Also intend to bring part of the funds from outside investors.
“Opensorse ASIC devices didn’t exist. This is a very inspires me”, — said Drake.
We will remind, some days ago Vitalik Buterin announced the transition of the ecosystem to the stage of Ethereum 2.0, which will be called Serenity. Upgrade will be preceded by the activation of Casper and the transition to the algorithm Proof-of-Stake, sharding, updating the virtual machine, change the cross-contract logic and the economy of the Protocol.
According to Vitalik, as a result of these innovations the Ethereum network will be faster and safer, uses less power and its capacity will exceed 1000 transactions per second.