A New Era in Cryptography
Michael Gao and Tina Ju, a married couple and dropouts from MIT and Stanford respectively, have founded Fabric Cryptography, a hardware startup with the ambitious goal of making modern cryptographic techniques like zero-knowledge proof (ZKP) and fully homomorphic encryption (FHE) ubiquitous. The co-founders argue that this will ease the fundamental tension between trust and privacy in an age where companies gather increasing amounts of data about consumers, yet struggle to safeguard it.
The Problem with Existing Hardware
Existing hardware is simply too slow to make things like FHE ubiquitous. Fabric calls this a ‘verifiable processing unit’ (VPU). This is why the team has developed a custom RISC-V-based chip optimized to run the algorithms necessary to establish ZKP and enable FHE.
The Solution: A Verifiable Processing Unit
Fabric’s VPU is designed to accelerate cryptographic operations, making it possible for companies to keep data encrypted even while in use. This is particularly relevant in the blockchain space, where security and transparency are paramount. The market with the most immediate need for Fabric’s solution is indeed the blockchain industry.
A New Era of Pervasive Cryptography
Gao and Ju believe that their technology has the potential to go beyond the crypto space and become a mainstream phenomenon. They argue that hardware could be the final accelerant that pushes cryptography over the edge, allowing cryptographers to make their dreams come true. The couple’s experience at Luminous Computing, a photonic AI startup, may have been a wake-up call for them.
From Luminous to Fabric: A New Vision
Gao and Ju were disillusioned by the practical go-to-market for photonic computing, which seemed to be limited to giant AI machines for targeted ads on social media. This is why they decided to start Fabric Cryptography, with a focus on creating a verifiable processing unit that can accelerate cryptographic operations.
The Future of Fabric
Fabric plans to use its new funds to develop the next generation of its chips and scale its software and cryptography teams. The company hopes to get its chips into enterprise data centers and even sell to hyperscale clouds in the long run.
Investors Backing Fabric’s Vision
Several VCs are now backing Fabric’s idea, with Blockchain Capital and 1kx leading the company’s $33 million Series A round. Offchain Labs, Polygon, and Matter Labs also participated in this funding round.
Fabric’s First-Generation Chip: Focusing on ZKP
Fabric’s first-generation chip will focus on zero-knowledge proofs (ZKP). The market with the most immediate need for its solution is indeed the blockchain space, which requires security and transparency.
The Potential of Fabric’s Technology
Gao and Ju believe that their technology has the potential to go beyond the crypto space and become a mainstream phenomenon. They argue that hardware could be the final accelerant that pushes cryptography over the edge, allowing cryptographers to make their dreams come true.
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Conclusion
Fabric Cryptography is a hardware startup with the ambitious goal of making modern cryptographic techniques like ZKP and FHE ubiquitous. With its custom RISC-V-based chip, designed to accelerate cryptographic operations, Fabric has the potential to revolutionize the cryptography industry. The company’s vision for pervasive cryptography has attracted several VCs, who believe in the potential of their technology.
If you want to learn more about this innovative startup, be sure to check out their official website and stay tuned for updates on their progress!
