Ethereum Layer-2 rollup project Taiko has announced the launch of Katla, its last test network before the mainnet expected in early 2024. Katla introduces a novel rollup design known as multi-proof-based rollup, which is the sixth test network designed by Taiko developers. This design aims to benefit decentralized applications that require high efficiency and cost-effectiveness.
Taiko’s architecture features a zero-knowledge Ethereum Virtual Machine (ZK-EVM) that is fully compatible with the Ethereum mainnet. Taiko Labs CEO Daniel Wang expressed excitement about sharing this latest test network with the community and partners, highlighting its role in enhancing Ethereum’s scalability and security.
Unlike other Layer-2 rollup projects with centralized sequencers, Taiko relies on Ethereum validators to sequence transactions and blocks, aiming to improve security and resistance to censorship.
Taiko Labs, the team behind the Layer-2 network, has successfully raised $22 million in two funding rounds. The first was a $10 million seed round led by Sequoia China in 2022, and the second was a $12 million pre-Series A round led by Generative Ventures in 2023.
Prominent investors participated in these funding rounds, including IOSG Ventures, GSR, GGV Capital, and angel investors like POAP founder Patricio Worthalter, Ethereum Foundation’s Tim Beiko, and Ethereum educator and investor Anthony Sassano. With the announcement of the Katla test network on January 15, speculation about potential airdrop events has surfaced on social media, with many Web3 users anticipating an airdrop from the Taiko team following the mainnet launch.