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News

Ethereum Layer 2 Taiko Permissionless Sequencing and Proving Launched

June 6, 2024 - Around 2 mins mins to read

Key Points:

  • Taiko permissionless sequencing and proving was introduced to boost decentralization.
  • Users worldwide can now independently participate in block sequencing and verification on Taiko, reducing centralization risks.
  • Taiko’s main net launch and token distribution signal a major stride in Ethereum’s scalability solutions.
Ethereum Layer 2 project Taiko has achieved a significant milestone with its mainnet launch and token release, emerging permissionless sequencing, and proving in the rollup space.
Ethereum Layer 2 Taiko Permissionless Sequencing and Proving Launched

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Taiko Permissionless Sequencing and Proving Launched

Taiko permissionless sequencing allows decentralized block sequencing by anyone, a departure from other rollups reliant on centralized sequencers, which introduces risks.

The process, termed based sequencing, leverages Ethereum mainnet validators and block builders for block ordering, enhancing decentralization within Taiko‘s ecosystem.

Moreover, Taiko introduces permissionless verification, enabling individuals globally to set up Taiko nodes and provers independently, without intermediaries. Taiko permissionless sequencing brings the blockchain closer to full decentralization and incentivizes participation through its native token, TAIKO, offering rewards for network engagement.

Ethereum’s Scalability Solution Advances

Rollups are pivotal for Ethereum‘s scalability, particularly post-Ethereum’s London upgrade, mitigating transaction fees and bolstering throughput. However, they often grapple with centralization concerns due to reliance on project-controlled sequencers and provers.

Taiko’s innovative multi-prover approach aims to fortify the system against bugs and vulnerabilities, reducing the likelihood of exploitation by diversifying proof mechanisms.

The project’s mainnet launch, preceded by rigorous development since 2022 and seven testnets, was accompanied by an airdrop, distributing 5% of its 1 billion token supply to early community participants.

Ethereum co-founder Vitalik Buterin was among those expecting Taiko’s inaugural block, signaling significant interest and confidence in the project’s potential. With its groundbreaking features and commitment to decentralization, Taiko emerges as a frontrunner in Ethereum’s Layer 2 ecosystem.

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.

Ethereum

Layer 2

TAIKO

Taiko Permissionless

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.