Taiko Thanks Vitalik Buterin Amid Layer 2 Launch On Ethereum Mainnet

Taiko, a promising Ethereum Layer 2 protocol, has officially launched on the Ethereum mainnet while expressing gratitude towards the Ethereum founder Vitalik Buterin. Notably, the launch, marking a significant milestone in its development, was further highlighted by Ethereum co-founder Vitalik Buterin proposing the inaugural block. 

Meanwhile, Taiko’s deployment promises enhanced scalability and security for the Ethereum network.

Taiko’s Mainnet Milestone and Vitalik Buterin’s Contribution

After two years of dedicated development, Taiko has transitioned from testnets to mainnet, aiming to scale Ethereum while maintaining its security. In a notable gesture, Vitalik Buterin proposed the first block on Taiko’s mainnet. 

Meanwhile, in a recent announcement, Taiko included a quote from Buterin, emphasizing the importance of diverse approaches in Layer 2 solutions. “Ethereum benefits from L2s taking a plurality of different approaches, and I appreciate them being among the first to go in this direction,” Buterin noted.

Notably, Taiko’s rollup protocol, initially controlled by a multisig arrangement, relies on Ethereum block validators to sequence transactions, benefiting from the security assurances provided by Ethereum. The protocol uses SGX proofs and plans to incorporate zero-knowledge proofs (ZK proofs) to further enhance security and scalability.

Taiko co-founder and CEO Daniel Wang expressed excitement about the launch, highlighting the protocol’s potential to securely scale Ethereum. 

Daniel Wang stated:

It’s been a long time in the making, and we’re beyond thrilled to deliver what we believe is the most secure technology to scale Ethereum.

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Community Engagement and Future Plans

Taiko’s launch strategy includes community engagement initiatives such as the Trailblazers points incentive program and a significant airdrop. Besides, the protocol plans to distribute 5% of its 1 billion token supply in a “genesis airdrop” to reward its early supporters.

Looking ahead, Taiko aims to decentralize its network processes. Initially, block proposing and proving will be controlled to ensure network stability. However, once stabilized, these processes will become permissionless, allowing broader community participation in node running, block proposing, and proving. 

Wang emphasized the importance of security and gradual decentralization, acknowledging the inherent challenges in deploying new blockchain software. In addition, Taiko plans to establish a DAO (Decentralized Autonomous Organization) later this year, gradually transferring protocol control to its community. This phased approach will reduce initial controls, or “training wheels,” until full community governance is achieved.

Taiko’s launch represents a significant advancement for Ethereum Layer 2 solutions, aiming to improve transaction throughput and security. With strong community engagement and a roadmap focused on decentralization, Taiko is poised to play a crucial role in Ethereum’s scalability journey.

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