Layer-2 (L2) project Taiko has officially deployed its protocol on the Ethereum (ETH) mainnet, marking a significant milestone after two years of development. The Taiko protocol uses Based Contestable Rollup (BCR) architecture, promising to enhance Ethereum’s scalability and security while maintaining a decentralized structure.
Vitalik Buterin Proposes First Block
Ethereum co-founder Vitalik Buterin proposed the inaugural block, highlighting the significance of this launch. He expressed his excitement about Taiko’s unique approach, which integrates various proof systems to bolster the network’s robustness. “I’m excited to see that Taiko is launching as a based rollup. Ethereum benefits from L2s taking a plurality of different approaches, and I appreciate them being among the first to go in this direction,” Buterin stated in the block’s metadata.
User and Developer Engagement
Taiko’s launch introduces several opportunities for users and developers to interact with the new network. Regular users can bridge ETH to Taiko using the official bridge and explore decentralized applications (dApps) for activities like swapping, borrowing, and staking. Although there are quota controls for bridging back to Ethereum, these limits will be gradually lifted.
Developers can engage by running nodes, proposing, and proving blocks—essential for maintaining the network’s security and functionality. The Taiko team will initially manage these processes to ensure stability but will soon open them to the broader community. Additionally, developers can build and deploy smart contracts on Taiko, supported by comprehensive documentation.
Future Plans and Community Involvement
The team plans to launch a DAO and transfer protocol control to token holders later in the year. Taiko’s native token, TKO, will launch a few weeks after the mainnet deployment, accompanied by an airdrop to distribute the token. Eligible user categories for the airdrop include proposer, prover, developer, and bridger. GitHub and Loopring community members who meet the conditions can also check their eligibility for the airdrop.
Financial Backing and Open-Source Commitment
Taiko is a completely open-source, permissionless ZK-Rollup equivalent to Ethereum, aiming to offer an experience similar to Ethereum without centralized parties. This technological accomplishment and user-focused approach have garnered significant financial backing. In early March, Taiko announced the completion of commitments for a Series A funding round worth $15 million, led by Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital. This round brings Taiko’s total raised capital to $37 million across three rounds.
