Taiko, a cutting-edge Ethereum-based rollup, has recently launched on the mainnet after a meticulous year of development and seven testnet iterations. This innovative platform, positioned as an Ethereum-equivalent Type 1 ZK-EVM, boasts maximal compatibility with Ethereum’s core architecture.
The inaugural block of Taiko was proposed by Ethereum co-founder Vitalik Buterin, highlighting the project’s commitment to transparency and collaboration. Utilizing Ethereum block validators, Taiko ensures the secure sequencing of transactions while benefiting from Ethereum’s liveness and security guarantees. Initially, the rollup protocol contracts on Ethereum will be governed by a multisig arrangement, with plans to transition to a zero-knowledge (ZK) proof requirement for 50% of blocks in the long term.
One of the key features of Taiko is its implementation of a type-1 zero-knowledge virtual machine, meticulously designed to emulate Ethereum’s core architecture. This strategic design not only enhances protocol security but also facilitates the submission and contestation of proofs, ensuring a robust network infrastructure.
“We are excited to deliver what we believe is the most secure technology to scale Ethereum,” shares Daniel Wang, the co-founder, and CEO of Taiko, emphasizing the project’s dedication to bolstering Ethereum’s ecosystem and scalability.
In the pipeline for Taiko is the launch of a native token post-mainnet release, accompanied by an incentive program aimed at fostering community engagement through rewards for various activities. An airdrop was conducted ahead of the mainnet launch, distributing 5% of the total token supply to the community. Additionally, a DAO is scheduled for introduction before the year ends, featuring a phased governance structure to facilitate incremental system updates.
To ensure network stability post-mainnet launch, Taiko plans to implement controls for block proposals and proving for an initial period of two weeks. Subsequently, these processes will transition to a decentralized and permissionless model, allowing for node operation and essential functions for all users.
Having raised $37 million from previous funding rounds, Taiko has garnered support from prominent investors such as Sequia China, Generative Ventures, Lightspeed Faction, Hashed, Token Bay Capital, and more. The project’s commitment to innovation, security, and community engagement positions it as a key player in the ever-evolving crypto and NFT landscape.
