Taiko Launches on Mainnet with Vitalik Buterin Proposing First Block
Taiko, an Ethereum-based rollup protocol, has launched on the mainnet.
In a statement released Monday, Vitalik expressed his enthusiasm and anticipation for Taiko's mainnet launch. "The fact that Taiko is launching as a based rollup excites me. L2s using a variety of strategies helps Ethereum, and I'm glad they were among the first to take this approach."
The first block, which included the names of every Taiko core contributor, was proposed by Ethereum co-founder Vitalik Buterin to commemorate this milestone.
Vitalik Buterin Added the First Block to the Taiko Network Ahead of the Mainnet Launch
— 🔸BΞRIT🔸 (@Berit1p) May 27, 2024
🧑💻 The creator of Ethereum added the first block in the Taiko network ahead of the mainnet launch, and stated that he is "very excited" about the upcoming blockchain launch. pic.twitter.com/clglSkbfs1
Justin Drake, a researcher at the Ethereum Foundation, explained Taiko's creative approach to the centralized sequencing issue. He stated that "Taiko is based. There has been a significant advancement in rollups' composability, decentralization, and credible neutrality. As a form of decentralized sequencing, L2 is trailblazing-based sequencing, in which L1 proposers are registered for L2 transaction ordering.”
Taiko Labs' co-founder Daniel Wang added "introducing Taiko to the Ethereum mainnet makes us very happy. After two years of extensive development and testing by the team, we are certain that Taiko offers a different rollup design, a safer and more effective (ethereum) scaling solution."
Participants will receive rewards for their participation in the Taiko network and ecosystem as a way to commemorate this historic launch and to say thank you to the community of over a million users. 100 million TKO tokens (10% of the total supply) will be distributed as part of the Trailblazers campaign, according to the statement.
The introduction of Taiko to the Ethereum mainnet marks a major breakthrough in the scalability of blockchain technology. Taiko was established in 2022 and has since raised $37 million in funding to develop the Based Contestable Rollup (BCR), a multi-proof system that reduces costs, strengthens decentralization, and improves security.
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