The cryptographic accelerator is intended to make calculations faster and more efficient on the blockchain, allowing for advanced cryptographic algorithms such as zero knowledge proofs -a cryptography method to prove that something is known without revealing the known information directly. Silicon Valley-based Fabric Systems will use the money to build an “immersion-native” Bitcoin miner and a general purpose accelerator for cryptographic algorithms. The investment from Metaplanet is not Tallinn’s first foray into crypto: a keen Bitcoin enthusiast, the Estonian engineer previously admitted he holds most of his wealth in cryptocurrency, and has donated digital assets to companies before. The money came from early stage investment firm Metaplanet, run by Skype co-founder Jaan Tallinn, crypto exchange, and venture firm 8090 Partners. Cryptography hardware technology company Fabric Systems raised $13 million in a seed round from investors to build energy-efficient Bitcoin mining hardware.
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