Vitalik Buterin, the co-founder of Ethereum, has taken a significant step by proposing the first block for Taiko’s mainnet, a major milestone for this Layer 2 scaling initiative. In a message embedded within the block, Buterin expressed his excitement for Taiko’s launch and its potential impact on the Ethereum ecosystem.
Vitalik Buterin Endorses Taiko’s Unique Approach
As per the message, Buterin stated, “I’m excited to see that Taiko is launching as a based rollup.” This highlights the startup’s unique approach. He added that Ethereum will benefit from L2s exploring various methodologies, and appreciated Taiko for being among the pioneers in this direction.
Taiko’s goal is to enhance Ethereum’s scalability by reducing transaction costs while maintaining the network’s core principles of censorship resistance, permissionless access, and security. The startup is working on a “Type 1” ZK-EVM, a ZK-rollup that is fully compatible with the Ethereum Virtual Machine and supports zero-knowledge proof computation.
This technology ensures more efficient and secure transactions without sacrificing decentralization, marking a significant advancement in Ethereum’s Layer 2 solutions. Thus, by utilizing zero-knowledge proofs, Taiko can provide scalable and cheaper transactions, which are essential for the broad adoption of decentralized applications.
Buterin’s endorsement emphasizes the importance of diverse approaches within the Ethereum Layer 2 space. Experts say this is essential for the network’s long-term success and sustainability.
Ethereum L2 Taiko’s Token Distribution
In preparation for its mainnet launch, Taiko has announced a “genesis airdrop” for its community members. This initiative will distribute 5% of the total 1 billion token supply. Eligible recipients include those who have interacted with the Taiko testnet, served as block proposers and provers, contributed to specific GitHub repositories, and participants in the Ethereum ICO.
Taiko’s token distribution plan allocates 48.5% to significant stakeholders. This includes 20% for Taiko Labs and its core team, 16.88% for the Taiko Foundation reserves, and 11.62% for investors. The DAO Treasury will receive 20% of the tokens.
Additional allocations include 5% for Grants and RetroPGF, 5% for liquidity and market making, and 10% for the Trailblazer airdrop, which is separate from the Genesis airdrop. The TKO genesis airdrop will be available for claim once the Taiko Layer 2 mainnet is live.
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