Taiko thanks Vitalik Buterin as it launches on Ethereum mainnet, emphasizing the project’s focus on scalability, security, and community engagement.
Officially launching on the Ethereum mainnet, Taiko, a prospective Ethereum Layer 2 protocol, has expressed appreciation to Vitalik Buterin, the founder of Ethereum.
Ethereum co-founder Vitalik Buterin’s proposal for the inaugural transaction further emphasized the launch, which marked a significant milestone in its development.
Meanwhile, Taiko’s deployment holds the potential to bolster the scalability and security of the Ethereum network.
Taiko’s Mainnet Milestone and Buterin’s Contribution
Taiko has transitioned from testnets to the mainnet after two years of intensive development, aiming to scale Ethereum while preserving its security.
In a notable gesture, Vitalik Buterin proposed the first block on Taiko’s mainnet.
Meanwhile, in a recent announcement, Taiko incorporated a statement from Buterin, underscoring the significance of varied 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 governed by a multisig arrangement, sequences transactions utilizing Ethereum block validators. This implementation leverages the security guarantees offered by Ethereum.
Moreover, the protocol intends to integrate zero-knowledge proofs (ZK proofs) and the current SGX proofs to augment security and scalability.
Daniel Wang, co-founder and chief executive officer of Taiko, was ecstatic about the inauguration and emphasized the protocol’s capacity to scale Ethereum securely.
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.
Community Engagement and Future Plans
The Trailblazers points incentive program and a substantial airdrop are examples of community engagement initiatives that comprise Taiko’s launch strategy.
In addition, as an incentive for early supporters, the protocol intends to “genesis airdrop” 5% of its 1 billion token supply.
Taiko intends to decentralize its network procedures in the future.
Initially, controlling block proposing and proving will guarantee the network’s stability.
However, once these processes have achieved stability, they will cease requiring permissions, enabling a more comprehensive range of community members to engage in node operating, block proposing, and proving.
Wang underscored the significance of security and incremental decentralization while also recognizing the intrinsic difficulties associated with the implementation of novel blockchain software.
Moreover, Taiko intends to implement a DAO (Decentralized Autonomous Organization) by the year’s end, thereby progressively transferring protocol control to its community.
However, this phased approach will reduce initial controls, or “training wheels,” until full community governance is achieved.
Introducing Taiko signifies a notable progression in Ethereum Layer 2 solutions to enhance transaction throughput and security.
Taiko is well-positioned to impact Ethereum’s scalability trajectory due to its robust community involvement and decentralization-oriented roadmap.
