Taiko (TAIKO)
Taiko is a decentralized, open-source ZK-Rollup network designed to be equivalent to Ethereum. Founded by Daniel Wang in March 2022, it operates without centralized control, relying on community-driven and permissionless operations. With a history in ZKP development dating back to 2018, Taiko aims to become the primary scaling solution for Ethereum by focusing on simplicity and security. The Alpha Testnet launched in December 2022, emphasizing decentralization, security, and scalability while ensuring compatibility with Ethereum.
| Ticker | TAIKO |
| Category | Smart Contract Platform |
| Website | https://taiko.xyz/ |
| @taikoxyz | |
| Contract Addresses | |
|---|---|
| ethereum | 0x10...00 Copied! |
| taiko | 0xa9...75Copied! |
History
2022
Taiko was introduced in October 2022, and by December 28th, the Alpha-1 testnet, codenamed Snæfellsjökull, went live. This marked the project's first public testnet release, with the goal of developing a Type-1 ZK-EVM to scale Ethereum securely and seamlessly.
2023
In 2023, Taiko continued to advance its development and community engagement. Four public testnets were launched, and key rollup designs like the Based Contestable Rollup (BCR) and Based Booster Rollup (BBR) were developed. The community grew significantly, and nearly 80 dapps were incorporated into the Taiko ecosystem. The Taiko Grants program and educational initiatives highlighted the project's dedication to community involvement. Taiko also secured $22 million in funding to support its development and community-building efforts.
Taiko Protocol
The Taiko Protocol sets the rules and participation criteria for the rollup system, highlighting security, decentralization, and permissionless access. Smart contracts on Ethereum Layer 1 handle ZK-SNARK proofs, while Layer 2 contracts manage essential protocol functions. Participants include proposers, provers, and node runners, who maintain network synchronization.
Based sequencing
Based Sequencing is a unique feature in Taiko, where Ethereum Layer 1 validators determine the transaction sequence, removing the need for a centralized sequencer.
Based Contestable Rollup (BCR)
The BCR system integrates contestation and based sequencing. Participants propose blocks, which can be contested by others, ensuring blockchain integrity through higher-tier proofs. This system balances security and efficiency.
Boosted Based Rollup (BBR)
BBRs delegate sequencing to Ethereum Layer 1, enabling direct Ethereum scaling and addressing fragmentation issues through atomic cross-rollup transactions within the booster network.
Multi-proofs
Taiko nodes can generate proofs for proposed blocks to validate state transitions. An off-chain proof market optimizes network efficiency, and multiple proof systems enhance security and diversity.
Taiko nodes
Taiko nodes, including taiko-geth and taiko-client, execute and manage transactions. They ensure local chains synchronize with verified L2 blocks, maintaining network integrity.
Bridging
Bridges in Taiko facilitate secure asset transfers between blockchains using merkle proofs, enabling cross-chain messaging and asset transfers between Ethereum and Taiko.
Inception layers
Inception layers allow horizontal scaling for Ethereum, deploying multiple Taiko instances as parallel L2s or L3s, ensuring scalability and seamless communication across layers.
Taiko Organizations
Taiko Labs
Taiko Labs is a research and development group dedicated to the Taiko protocol.
Taiko Treasury
The Taiko Treasury is funded by the income generated by the Taiko protocol.
Taiko DAO
The Taiko DAO consists of TKO token holders with voting rights to govern the Taiko Protocol.
Taiko Foundation
The Taiko Foundation supports the growth and development of the Taiko protocol and ecosystem, working on behalf of the Taiko DAO and token holders.
Taiko Security Council
The Taiko Security Council is an elected group responsible for emergency actions and ensuring the safety of the Taiko protocol.
Tokenomics
Taiko Token ($TKO)
The Taiko token is integral to the contestable rollup design, supporting bond systems in BCR and BBR. It enables decentralized governance and has a fixed supply of 1 billion tokens.
Funding
In June 2023, Taiko Labs raised $22 million across two funding rounds, with participation from several investors. On March 2, 2024, Taiko Labs announced a Series A raise of $15 million, bringing the total capital raised to $37 million.
Ambassador Program
The Taiko Ambassador Program focuses on increasing awareness about Ethereum's scalability through ZK-EVMs. Ambassadors engage in developer advocacy, educational content creation, and community organization.
Founding Team
- Daniel Wang - CEO and Founder
- Brecht Devos - CTO
- Terence Lam - COO