Recently revealed at Devcon, the annual gathering of developers held at Prague, Ethereum FoundationresearcherJustin Drakeunveiledpreliminarystylesfor application-specific integrated circuits, or ASICs,that maysupportanapproachingEthereum technologyknown asthe “beacon chain.”
In essence, the beacon chaincould be arandomnumbergenerator, and it’s expectedto createa part of subsequentmajor iteration of the Ethereum network, Ethereum [ETH] 2.0 –beneathanother alternative, proof-of-stakeaccordprotocol [compared to the proof-of-work approachutilisedtoday].
While the term “ASIC”within thecryptocurrencyareaisadditionalsimplyrelated tothe technology applied to mining, theprojectedEthereum [ETH]2.0 hardwareis notpartakingin thissame, computationally-intensivemethod.
Instead, these ASIC devicescanhave interactionin an exceedinglyrelativelyless expensiveoperationreferred to asthe Verifiable DelayFunction. This helps to shuffle the validators thataresupposed to switchminers in Ethereum’s proof-of-stake system.The thoughtis that the hardwarecanforestallany individual or organization from coalescing enough power to overtake system operations.
All told, the project iscalculabletopricebetween $20 Mln to $30 Mln,in line withDrake,that has$15 Mln to $25 Mln foranalysis, researchand development and around $5 Mlnto createan estimated 5,000 machines.
However, the Ethereum Foundationand Filecoin –thathas raisedaround more than$250 Mln through an initial coinoffering last year –arerendingpricesfor projectanalysisand development. Their overall commitmentsmight bereduced, as Drake left the doorreceptiveto other blockchainprojects contributivefunds.
Looking at the work ahead, Drakepresenteda positive tone –significantlythe prospect of designing and implementing theplanin anopen sourcefashion.
Adding further Drake added:
“Open-source ASICs haven’textremelybeen done beforethusit’s allveryexcitingon behalf of me.”