Photo via Jon Russell/Flickr (CC-BY-SA)
All that is known beyond that is the open source operating system doesn't use the Linux kernel, which is the underlying coding that powers both Android and Chrome OS.
Instead, Fuchsia appears to use the Magenta kernel, which is based on the ‘LittleKernel’ project. The kernel is designed to be used in embedded systems and can be scaled to be used with everything from smartphones to desktop computers.
While the initial thought relating to anything for embeddable systems is an Internet of Things-centric OS, Google already has one in form of the Android-powered Brillo. Additional documentation for Fuchsia also suggests bigger ambitions, stating it will target smartphones and personal computers that utilize "fast processors" and "non-trivial amounts of RAM."
This has led to theorizing that Fuchsia may finally be the system that ties together Android and Chrome OS, but that doesn't seem to be likely. Google isn't providing additional information on Fuchsia, but a spokesperon from the company told the Daily Dot the operating system is not at all related to Android or Chrome OS.
Even with the likelihood of a bridge between existing operating systems eliminated, that still leaves quite a bit of possibilities as to what exactly Fuchsia is for. Until Google announces more information, your guess is as good as ours.
H/T The Verge