Taiko, an Ethereum-based Layer-1 rollup, has officially launched on the mainnet following extensive development since 2022 and the successful completion of seven testnets.
Leveraging Ethereum’s Enhanced Security and Performance
Taiko operates as a rollup that leverages Ethereum block validators in sequencing transactions.
This ensures liveness and security assurances provided by the Ethereum layer. The early stages will see Taiko’s rollup protocol contracts on Ethereum managed through a multisig arrangement.
The protocol will start by using SGX proofs, with plans to transition to utilizing ZK proofs for 50% of blocks as part of its long-term strategy for enhanced scaling and security.
According to Daniel Wang, Co-founder and CEO of Taiko, “It’s been a long time in the making, and we’re beyond thrilled to deliver what we believe is the most secure technology to scale Ethereum.”
Taiko also incorporates a type-1 zero-knowledge virtual machine structured to mimic the Ethereum architecture, featuring a multi-proof proving system. This system boosts security by facilitating the submission and contestation of various proof types.
The Taiko Rollout Plans
The Taiko token is set to launch a few weeks post-mainnet launch. Additionally, Taiko plans to roll out a points incentive program named Trailblazers. The goal is to engage its community by rewarding task completion and network interaction.
For the first two weeks post-launch, Taiko will manage block proposing and proving to ensure network stability. Thereafter, these processes will become decentralized and permissionless, allowing users to participate in node running, block proposing, and proving.
Once the network stabilizes, both block proposing and proving will be permissionless for everyone. Node running, an activity Taiko emphasizes as equally important, is already available to the public.
Wang maintains that security is the utmost priority for Taiko hence it is critical to guarantee network stability before fully opening up. Analysts say the trust by members of the community is the secret for Taiko’s success. Since 2022 till date, Taiko has raised $37 million.
Prior to going live, Ethereum co-founder, Vitalik Buterin proposed the first block on Taiko’s mainnet. The embedded metadata honors each core contributor of the Taiko project.
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