Ethereum Layer 2 Taiko Mainnet Officially Launched

Key Points:

• Ethereum Layer 2 Taiko mainnet launched, featuring a zero-knowledge virtual machine for security.
• The project raised $37 million and plans to launch its token on the mainnet soon.
• Taiko will introduce the Trailblazers incentive program and a DAO by year-end, with initial stability measures transitioning to decentralization.

Ethereum Layer 2 project Taiko, under development since 2022, has launched on the mainnet after completing seven testnets.

Read More: Taiko Review: Potential zkEVM Solution With High Compatibility

Ethereum Layer 2 Taiko Mainnet Is Now Live

Taiko utilizes a type-1 zero-knowledge virtual machine designed to mimic Ethereum’s core architecture, enhancing security through the submission and contestation of proofs.

Ethereum co-founder Vitalik Buterin proposed creating the inaugural block on the Ethereum Layer 2 Taiko mainnet, embedding metadata with the names of each Taiko core contributor.

Taiko has successfully raised $37 million in funding across two rounds. The seed raise, led by Sequoia China in Q3 2022, was followed by a $12 million pre-Series A round led by Generative Ventures. The Series A round concluded on March 2 this year.

Initially, Taiko’s rollup protocol contracts on Ethereum are managed via a multisig arrangement. The protocol currently mandates SGX proofs but plans to transition to requiring 50% of blocks to utilize zero-knowledge (ZK) proofs, aiming to bolster long-term scalability and security. In preparation for the mainnet launch, Taiko conducted an airdrop distributing 5% of the planned token’s 5 billion supply to its community.

Upcoming Taiko Token and Community Incentives

The Taiko token is anticipated to launch on the mainnet in a few weeks. Additionally, Taiko will introduce a points-based incentive program named Trailblazers, designed to engage the community by rewarding task completion and network interactions.

Affter the Ethereum Layer 2 Taiko mainnet launch, it will implement control measures for block proposals and proving for up to two weeks to ensure network stability. These processes will gradually become decentralized and permissionless, allowing node running and other essential functions accessible to all users.

A decentralized autonomous organization (DAO) is scheduled to launch before the year’s end, featuring a phased governance mechanism for incremental system updates.