BerandaNewsHow Taiko's Layer 2 Solution Aims to Enhance Ethereum's Network Performance

How Taiko’s Layer 2 Solution Aims to Enhance Ethereum’s Network Performance

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  • The project introduces a “Type 1” ZK-EVM, employing zero-knowledge proofs for efficient and secure transaction processing.
  • Taiko announced a genesis airdrop distributing 5% of its tokens to community members before the mainnet launch.

Vitalik Buterin, initiated the first block for the Taiko mainnet, a Layer 2 solution aimed at enhancing the scalability of the Ethereum network. This action marks an important phase in the preparation for Taiko’s launch. Buterin shared a message within the block’s data, showing support for Taiko’s development strategy and its potential impact on Ethereum.

Taiko is designed to address Ethereum’s scalability by reducing the cost of transactions while preserving the network’s key characteristics such as censorship resistance, permissionless access, and security.

The project employs a “Type 1″ ZK-EVM, a type of ZK-rollup that is fully compatible with the Ethereum Virtual Machine. This technology utilizes zero-knowledge proofs to process transactions more efficiently and securely, without compromising on decentralization.

Buterin’s message on the mainnet block underscores the importance of various technical approaches in the development of Ethereum’s Layer 2 solutions, highlighting Taiko’s role in this ecosystem.

The implementation of Taiko as a ZK-rollup represents an advancement in the technology underpinning Ethereum, aiming to facilitate scalable and cost-effective transactions that are essential for the adoption of decentralized applications.

Additionally, Taiko announced a genesis airdrop to distribute 5% of its total token supply of one billion tokens to the community members before the mainnet launch.

Ethereum-equivalent ZK-EVM

Eligibility for the airdrop extends to those who have interacted with the Taiko testnet, contributed to specific GitHub repositories, or participated in the Ethereum ICO.

The allocation of tokens is set at 48.5% for principal participants, with Taiko Labs and its primary team receiving 20%, the Taiko Foundation reserves obtaining 16.88%, and investors being granted 11.62%. Additionally, 20% of the tokens are designated for the DAO Treasury.

Additional allocations include 5% each for Grants and RetroPGF, liquidity and market making, and 10% for a separate Trailblazer airdrop. These tokens will become claimable following the operational launch of Taiko’s Layer 2 mainnet, which is set to introduce new functionalities to Ethereum’s infrastructure.

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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628