David Edwards

Published On: 14/05/2024
Share it!
Taiko
By Published On: 14/05/2024
Taiko

Taiko stands out as a revolutionary decentralized Ethereum Layer-2 solution, leveraging ZK-Rollup technology to efficiently scale Ethereum. It offers support for a range of ZK-EVM opcodes within a decentralized, permissionless, and secure Layer-2 framework.

Vitalik Buterin, Ethereum’s co-founder, has commended Taiko’s development, describing it as “Fascinating Work.” As a Type-1 ZK-EVM, Taiko prioritizes seamless compatibility with EVM/Ethereum, even if it requires sacrificing the speed of generating ZK-proofs.

Step-by-Step Guide:

  1. Complete everything in this post
  2. Go here
  3. Make swaps and add liquidity (Good opportunity to make transactions in Taiko network)

Costs:$0

A few words about project:

Taiko operates as a fully open-source, permissionless ZK-Rollup solution equivalent to Ethereum. Using Taiko feels identical to using Ethereum, with no centralized entities governing the network; instead, all operations are carried out by the community in a permissionless manner.

The Taiko protocol encompasses a series of smart contracts deployed on Ethereum, defining Taiko as a completely open-source scaling solution for Ethereum. Even the governance of Taiko is embedded within the protocol contracts.

Organizations within the Taiko ecosystem include:

  • Taiko Labs: A research and development group focused on enhancing the Taiko protocol.
  • Taiko Treasury: Funded by income generated by the Taiko protocol, including L2 EIP-1559 congestion MEV.
  • Taiko DAO: Comprising Taiko Token (TKO) holders with voting rights governing various aspects of the Taiko Protocol, including smart contract upgrades and TKO parameters.
  • Taiko Foundation: Responsible for overseeing the growth and development of the Taiko protocol and broader ecosystem, operating solely on behalf of the Taiko DAO and token holders. Its duties range from financing technical developments to ecosystem growth and maintenance, with full transparency to the Taiko community and DAO.
  • Taiko Security Council: A council elected by the Taiko DAO to take emergency actions on the protocol when necessary, ensuring its safety and soundness. It holds authority over implementing upgrades or changes and controls Guardian Provers within the Taiko protocol.
  • Taiko Community: A variety of social groups and accounts managed by anyone without permission. Examples include the Taiko Discord and Taiko Twitter accounts.