Taiko, an Ethereum-based rollup project that has been under development since 2022, has officially launched on the Ethereum mainnet after undergoing seven test networks. The launch includes an opening block featuring metadata listing all contributors to the project. Co-founder of Ethereum, Vitalik Buterin, has expressed his views on this significant milestone. Taiko relies on Ethereum block validators to sequence transactions and benefits from the security and liveness guarantees provided by the Ethereum base layer.
Which Steps Did Taiko Complete?
During the initial phase, Taiko’s rollup protocol contracts are managed through a multi-signature setup on the Ethereum network. The protocol initially requires SGX proofs and aims to transition to using zero-knowledge proofs for 50% of the blocks as part of its long-term strategy for scaling and security. Daniel Wang, Co-Founder and CEO of Taiko, shared his excitement about the launch, highlighting the project’s dedication to providing secure technology for scaling Ethereum.
The Taiko token is anticipated to launch a few weeks post-mainnet release. Additionally, Taiko has unveiled a community engagement initiative called Trailblazers, designed to reward users for completing tasks and interacting with the network. The project has also announced a genesis airdrop for community members, distributing 5% of the total 1 billion token supply before the mainnet launch.
What Are the Key Launch Details?
Initially, Taiko will manage block proposing and proving for two weeks post-launch to ensure network stability. These processes will later be decentralized and permissionless, allowing broader community participation in node operation, block proposing, and proving. The team emphasized the importance of security and stability before opening up the network to everyone.
Following the stabilization phase, block proposing and proving will be permissionless, and running a node is already accessible to the public. The team reiterated that security remains the top priority, recognizing the potential turbulence with any new software deployment in the blockchain space.
Key Insights for Users
Here are some important takeaways for users:
- Taiko’s multi-signature protocol and SGX proofs offer enhanced security initially.
- Zero-knowledge proofs will be mandated for 50% of blocks, improving scalability.
- The Trailblazers program incentivizes user engagement with rewards for task completion.
- Stabilization phase ensures network reliability before permissionless access.
- Running a node is accessible to the public, emphasizing community involvement.
Since its inception in 2022, Taiko has successfully raised $37 million through two financial rounds, underscoring strong investor confidence in its vision and potential.