Ethereum Denies It Is Mulling $15 Mln Investment to Develop Verifiable Delay Functions

A report from crypto news outlet CoinDesk had purported that the Foundation was considering an investment of $15 million to develop the technology, given its prospective benefit for Ethereum’s future transition to a PoS-based system. Drake however told Cointelegraph in an email that:As reported, the shift to PoS is expected to be completed with the final upgrade of the Ethereum network — known as Serenity, or Ethereum 2.0 — which will be the last in a series of four stages set out in the platform’s roadmap. At present, the network is in its third stage (Metropolis), which consists of two system-wide hard forks — Byzantium and Constantinople —  both designed to pave the way to Ethereum 2.0.Earlier this month, Ethereum launched its first pre-release for phase zero of the network’s evolving transition to Serenity, which co-founder Vitalik Buterin proposed was “*basically feature complete for Casper” — a transitional PoS-Proof-of-Work (PoW) hybrid consensus model currently under development by the Foundation.

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