Taiko has officially launched its services on Ethereum's mainnet and is now providing access to an allocation checker for those interested in the distribution of the TAIKO token.
In Brief
The Ethereum Layer 2 solution, Taiko, has made its protocol available on the mainnet, allowing users to seamlessly transfer ETH to Taiko via its designated bridge.
Ethereum Layer 2 scaling solution Taiko The TAIKO team recently announced the successful deployment of their protocol on Ethereum's mainnet, enabling users to transfer ETH to Taiko using their official bridge. Currently, there are 15-minute limits for users wanting to bridge back from Taiko to Ethereum, but there are future plans to gradually lift these restrictions. Transitioning from Layer 1 to Layer 2 comes without any bridging quotas.
Moreover, everyday users can interact with various decentralized applications (dApps) by trading, borrowing, or staking their ETH, with a promise that more innovative projects are on the horizon.
Additionally, developers are invited to run a node or propose and validate blocks within the Taiko network. This process of proposing and verifying blocks is crucial and open to all, ensuring the network’s health and security. However, for the first few weeks, the Taiko team will be the only ones proposing and proving blocks to solidify the network's stability before opening it up for broader participation.
In an exciting development, Taiko has also introduced an allocation checker for the upcoming TAIKO token distribution. Users leveraging this checker might find a way to increase their TAIKO allocation, as highlighted in their recent announcements on the social media platform X.
Taiko has deployed a contestable rollup (BCR) on the Ethereum mainnet. This innovative rollup combines based sequencing with a contestation mechanism using multi-proofs, a concept initially shared by the project last December. Currently, Taiko utilizes a Raiko multi-prover system that incorporates SGX proofs, refined for optimal performance. zero-knowledge In terms of zero-knowledge proof (ZKP) speeds, Taiko’s project aims to match or exceed those of optimistic rollups. Looking ahead, they plan to roll out additional validity proofs using advanced technologies like Risc0-zkVM, SP1 zkVM, and others.
Taiko unveils its Genesis Airdrop and shares future plans for launching the TAIKO token.
Taiko operates as a base rollup, leveraging Ethereum's block validators to effectively sequence transactions, gaining the necessary security and activity benefits from the underlying blockchain. Initially, the rollup protocol contracts will be supervised through a multi-signature setup. The protocol will require SGX proofs at the outset, with a strategy to evolve into requiring that 50% of blocks utilize ZKPs in the future as part of its extensive scaling and security plan.
In addition, Taiko features a Type-1 zero-knowledge virtual machine designed to replicate the architecture of an existing system and integrates a multi-proof proving structure, enhancing security by allowing for the submission and contestation of various types of proofs. Ethereum Taiko is set to release its native token, TAIKO, in the weeks following the mainnet launch. Additionally, the project is rolling out a points-based incentive program named Trailblazers, aimed at fostering community involvement. It encourages users to engage by completing tasks and interacting with the network. Recently, they announced a genesis airdrop, offering 5% of their total token supply—equating to 1 billion tokens—to community members.
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Disclaimer
In line with the Trust Project guidelines Alisa is a devoted journalist with Metaverse Post, focusing on cryptocurrency, zero-knowledge proofs, investments, and the vast landscape of Web3. With an insightful perspective on emerging trends and technologies, she delivers in-depth coverage, engaging and informing readers about the rapidly changing domain of digital finance.