The developers of leading Ethereum network scalability solutions, Offchain Labs, Polygon and Matter Labs, are funding the development of a new processing unit, made by Fabric Cryptography, that promises high real-time performance without sacrificing privacy.
Recently, supercomputing and cryptography hardware development startup, Fabric Cryptography, revealed the construction of a new computer, called a Verifiable Processing Unit (VPU), designed specifically to run cryptography algorithms.
This significant development for the field of cryptocurrencies and supercomputing is being favored by the main developers of scaling solutions in the blockchain industry. Offchain Labs, Polygon and Matter Labs have participated in Fabric Cryptography's $33 million Series A funding round. The capital raised in this investment round will be used to create the new and innovative VPU processing unit.
In addition to the aforementioned projects, other prominent actors in the blockchain ecosystem, including the venture capital manager Blockchain Capital, participated in Fabric Cryptography's Series A round, recognizing the transformative potential of this new technology in development. The round was co-led by cryptocurrency investor 1kx.
Verifiable Processing Unit (VPU): Maximum speed and privacy
As explained by the company through X, the VPU is designed to optimize cryptographic workloads, which could revolutionize the way data is handled and processed in the digital realm.
The developers of Fabric Cryptography highlighted that this new processing unit promises dramatically improve both the speed and cost of executing advanced cryptographic algorithms. They also highlighted that, unlike central processing units (CPUs) and graphics processing units (GPUs), the VPU is specifically designed with an instruction set architecture that adapts to the needs of cryptography.
“The VPU is the first custom silicon chip with a crypto-native instruction set architecture, set to dramatically improve the speed and cost of advanced cryptographic workloads.”, he highlighted Fabric Cryptography.
Michael Gao, co-founder and CEO of Fabric Cryptography, underlined the importance of this technology, stating that “there is a whole world of advanced cryptographic algorithms that not only protect our data, but can also guarantee trust if we can execute them efficiently.” With its new development, the company seeks to fill a gap in a market where, until now, cryptography researchers and projects have been limited to using hardware that is not optimized for the mathematical complexities of advanced cryptography.
Advances and benefits of VPU development
The funding received from investors will allow Fabric Cryptography to develop not only the computing chips, but also the software and cryptographic algorithms needed for the VPU. With production scheduled to begin later this year, the company has already received pre-orders worth tens of millions of dollars, indicating strong interest and demand in the market.
The VPU not only promises to be faster and cheaper, but is also characterized by its “unique combination of programmability, flexibility and performance,” according to Dr. Wei Dai, cryptographer and research partner at 1kx.
Unlike other fixed-function chips that are common in the cryptography field, the VPU is designed to be “future-proof,” Dai stressed, meaning it can adapt to new cryptographic algorithms as they are developed. This adaptability is crucial in a rapidly evolving technological environment, where threats and security needs are constantly changing.
Therefore, the participation of Offchain Labs, Polygon and Matter Labs in this financing round is no coincidence. These companies are leaders in innovating blockchain scalability solutions and have recognized the importance of improving cryptographic infrastructure to facilitate a more secure, optimal and efficient ecosystem. Overall, the investment in Fabric Cryptography aligns with the strategic objectives of driving the adoption of technologies that can handle complex cryptographic workloads more effectively.
Greater trust and privacy
Offchain Labs, known for its work on Arbitrum, an Ethereum scaling solution, could be seeing VPU as an opportunity to improve its security and efficiency. Polygon, which has been at the forefront of creating scaling solutions for Ethereum, will also benefit from integrating more robust cryptographic capabilities into its infrastructure. For its part, Matter Labs, developer of zkSync, is focused on blockchain scalability and privacy, and the VPU could boost its efforts in these areas.
Fabric Cryptography thanked the initial support of these companies and all the investors and partners who participated in their recent funding round, underscoring the potential of these collaborations to build a future where trust and privacy are fundamental to every digital interaction.
In summary, Fabric Cryptography's raising of $33 million for VPU development marks an important milestone in the evolution of cryptographic technology, which not only promises to improve the speed and cost of workloads, but which also offers an adaptable and flexible solution for the future.
