Christian Guyonvarc'h has proposed the identification with the Irish name Olcan (Ogamic Ulccagni, in the genitive).
Vasily Abaev compares it with the Ossetic Wærgon, a variant of the name of Kurdalægon, the smith of the Nart saga.
More recently this etymology has been taken up by Gérard Capdeville who finds a continuity between Cretan Minoan god Velchanos and Etruscan Velchans.
The Minoan god's identity would be that of a young deity, master of fire and companion of the Great Goddess.
Since the name in its normal form Kurdalægon is stable and has a clear meaning (kurd smith on of the family Alaeg name of one of the Nartic families), this hypothesis has been considered unacceptable by Dumezil.
Vulcan became associated like his Greek counterpart with the constructive use of fire in metalworking.
In a variant of the story of the birth of Romulus the details are identical even though Vulcan is not explicitly mentioned.This view is though in conflict with that which links the goddess to Jupiter, as his daughter (puer Jovis) and his mother too, as primigenia, meaning "primordial".In all of the above-mentioned stories the god's fertilizing power is related to that of the fire of the house hearth.In Etruscan religion, he is identified with Sethlans.Vulcan belongs to the most ancient stage of Roman religion: Varro, the ancient Roman scholar and writer, citing the Annales Maximi, records that king Titus Tatius dedicated altars to a series of deities among which Vulcan is mentioned.
A fragment of a Greek pot showing Hephaestus found at the Volcanal has been dated to the 6th century BC, suggesting that the two gods were already associated at this date.