Key Points:
- The Taiko Layer 2 Ethereum Network has launched an alpha-3 test network.
- The alpha-3 test network’s primary purpose is to evaluate the economic design and implementation of new protocols, including new fee/reward structures.
Ethereum Layer 2 network Taiko has launched the alpha-3 testnet, Grímsvötn.
This is the next stage toward a decentralized, Ethereum-equivalent ZK-EVM, and it will be important in testing much of the network architecture and components.
Relative to alpha-2, the most prominent changes are new protocol economics design and implementation; proposers AND provers are permissionless (alpha-1 had permissionless proposers, alpha-2 had permissionless provers), and Layer-3 implementation: inception layers.
Alpha-3 will be an incentive testnet to achieve the purpose of evaluating the new protocol economics design. The network will test how permissionless proposers and provers behave in a manner-simulated environment, where people behave rationally in accordance with the protocol’s costs and incentives. Due to the absence of real-value assets, simulating a mainnet environment with permissionless economic activity is more difficult on a testnet.
Taiko is a blockchain built on zkEVM technology that is Fully Ethereum-equivalent ZK-Rollup. It is currently Layer 2 going in the direction of Type 1 ZK-EVM, which is also the type with the highest level of EVM compatibility.
Type 1 ZK-EVM that Taiko is applying for works fully compatible with Ethereum. This makes it possible for developers to seamlessly migrate DApps between Ethereum and Taiko without risking contract failures (versus having to compile them into another language). Thereby shortening the time to reprogram old features and giving more resources to develop other breakthrough features if the project on Ethereum wants to scale operations on Taiko and vice versa.
The Taiko Protocol defines and enforces Rollup’s rules and finds potential participants. Taiko is designed to uphold the core principles of decentralization and security.
Smart contracts deployed on Ethereum serve as the data delivery mechanism and verifier of ZK-SNARK proofs. The smart contract deployed on Taiko performs several important functions, such as reusing the programmability of the EVM to enforce certain protocol properties.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
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