Protocol Labs, Filecoin, ETH Foundation, and Electric Coin Join Hands for Halo 2

Protocol Labs, Filecoin Foundation, and the Ethereum Foundation have signed a deal with Electric Coin Co. (ECC) to explore Halo R&D and know-how. The technology may be employed in their respective ecosystems. The Ethereum Foundation is a non-profit organization committed to supporting Ethereum and associated technologies. Filecoin is an open-cloud storage ecosystem, crypto, and protocol.

ECC’s parent company, the nonprofit Bootstrap, is supposed to receive about $2 million as part of the deal. The Filecoin Foundation, Protocol Labs, and the Ethereum Foundation will join hands-on research and development focused on using the zk-proving protocol.

Projects that the team will explore are

  • Implementing Recursion in Halo 2- Since recursion provides options like transaction aggregation and succinct blockchains, Halo 2 is essential to ECC’s scaling strategy for Zcash. Novel zero-knowledge technologies like “Zero-Knowledge Virtual Ethereum Machine” might be enabled through recursion.
  • Integrating Halo 2 into Filecoin Proof System– The main advantage of a Halo 2 integration with Filecoin would be scalability, which would allow vast groups of people to connect with the platform cheaply and effectively. The quantity of proof data saved on-chain in Filecoin may be considerably decreased by utilizing recursion in Halo 2.
  • Implementing Halo 2 proof for Verifiable Delay Function (VDF) – A VDF is also the cryptographic primitive with a wide range of applications. It may be utilized as a source of randomness, like the smart contract applications and in Proof of Stake consensus protocols for leader election.

SupraNational, a unique vendor hardware cryptography, will also collaborate with ECC, the Filecoin Foundation, Protocol Labs, and ETH Foundation on possible GPU and ASIC development of the VDF.

Josh Swihart, the VP of Growth, says that Filecoin may employ Halo 2 to enhance scalability due to this cooperation. Besides, it can improve interoperability across Zcash, Filecoin, and ETH and provide new pathways for improved privacy across all of these projects. These are the types of concepts they are looking forward to pursuing.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button