Ethereum Refutes VDF Plans, Shares Intentions On How Funds Will Be Split Between Financial Partners

It had been reported that Ethereum has to make the transition to a proof-of-stake system and was to invest $15 million in the development of Verifiable Delay Functions (VDFs) which would aid this transition. However, Justin Drake, a member of the research team for Ethereum, has clarified that these rumors are false. While Ethereum will be switching to a PoS system, they have no intentions to spend $15 million.

VDFs would be beneficial for Ethereum because it is designed to protect networks that make use of randomly generated values from possible attacks and hacks. In the case of a blockchain, a malicious user could take advantage of the random value by predicting the figures to the chosen, thereby manipulating the leaders and validators that will be selected through the protocol. Ethereum as a network has been very cautious about protecting its
network from possible attack, particularly in light of the double spend attack they suffered on Ethereum Classic earlier this year.


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