What is Taiko ($TAIKO)?

Taiko ($TAIKO) is an open-source cryptocurrency and an Ethereum-equivalent Zero-Knowledge Rollup (ZK-Rollup) solution. In simple terms, think of Taiko as a high-speed highway that eases Ethereum’s congested traffic. It leverages Ethereum’s robust security and vast ecosystem to deliver faster and more cost-effective transactions.

Taiko operates as a Layer 2 scaling solution for Ethereum, enabling decentralized applications (dApps) to function seamlessly as they would on Ethereum’s mainnet while boosting transaction speed and reducing costs.

Key Features of Taiko

Ethereum Layer 2 Solution

Taiko is built on top of Ethereum as a Layer 2 solution. This allows developers to run existing Ethereum applications on Taiko without any modifications, preserving all of Ethereum’s benefits while offering faster and cheaper transactions.

Zero-Knowledge Proofs

Taiko utilizes advanced cryptography known as Zero-Knowledge Proofs (ZKP). This technology enables the validation of information without revealing its details. As a result, Taiko processes transactions securely and efficiently while maintaining decentralization and security.

Scalability and Efficiency

Through ZK-Rollup technology, Taiko batches multiple transactions, processes them off-chain, and submits only a summary to Ethereum’s mainnet. This approach reduces network congestion and significantly lowers transaction costs, providing a faster and more economical experience for users.

Versatile Use Cases

Taiko is not limited to a single domain. It supports a wide range of applications, including decentralized finance (DeFi), non-fungible tokens (NFTs), blockchain gaming, and more. Its Ethereum compatibility ensures seamless integration with existing wallets, tools, and smart contracts.

Cost-Effective Transactions

High gas fees on Ethereum are a common issue for users. Taiko reduces gas costs by approximately 30%, making transactions more affordable, even for smaller operations.

Impressive Performance

Since its launch, Taiko has achieved remarkable success, processing 110 million transactions and engaging with over 1.2 million unique wallet addresses within just 90 days. This demonstrates Taiko’s ability to meet the demand for scalable blockchain solutions.

Competitive Trading Platforms

Platforms like CoinUnited.io offer attractive perks for Taiko traders, including zero trading fees, high leverage options (up to 2000x), and advanced trading tools, making Taiko a compelling choice for investors.

How Does Taiko Work?

Taiko is an innovative Layer 2 scaling solution designed to enhance Ethereum’s performance while preserving security and decentralization. Here’s a simple breakdown of how Taiko operates:

Building on Ethereum’s Infrastructure

Taiko is built on Ethereum’s existing infrastructure and security. Using a “rollup” approach, it bundles multiple transactions and submits them to Ethereum’s mainnet collectively, enabling faster and cheaper transactions.

Security with Zero-Knowledge Proofs

Taiko employs zero-knowledge proofs to validate multiple transactions without revealing their details. This ensures secure, fast, and private transactions, with final verification performed on Ethereum’s mainnet, reducing the processing burden.

Ethereum Compatibility

A standout feature of Taiko is its Ethereum-equivalent ZK-EVM (Zero-Knowledge Ethereum Virtual Machine). This allows existing Ethereum applications to run on Taiko without any changes, providing a seamless experience for developers and users.

Fast and Efficient Transaction Processing

When you make a transaction on Taiko:

• The transaction is quickly processed on the Taiko network.
• Multiple transactions are bundled together.
• These transactions are compressed using zero-knowledge proofs.
• The compressed proof is sent to Ethereum for final verification.
  This process is significantly faster and more cost-effective than transacting directly on Ethereum.

Security and Decentralization

Taiko inherits Ethereum’s robust security model. Transactions are protected by Ethereum’s proven security, while Taiko’s permissionless structure allows anyone to participate in the network, upholding the decentralized ethos of blockchain.

Use Cases of Taiko

Taiko, as a Layer 2 solution built on Ethereum with ZK-Rollup technology, offers scalability and efficiency. Here are its diverse use cases:

Scalable Decentralized Applications (dApps)

Developers aim to create dApps that can handle high user traffic while remaining cost-effective and efficient. However, Ethereum’s mainnet often faces congestion and high gas fees. Taiko provides a low-cost, high-speed alternative, enabling developers to scale applications efficiently. Users enjoy faster transactions, lower fees, and a smoother experience.

DeFi Protocols and NFT Marketplaces

DeFi protocols and NFT marketplaces struggle with high gas fees and slow transaction speeds. Taiko supports these operations with full compatibility with Ethereum’s tools and smart contracts, reducing costs and speeding up transactions. This improves user access and increases market liquidity.

Cross-Chain Interoperability

Projects and users seeking to transfer assets or data between blockchain networks face interoperability challenges. Taiko enables seamless transfers between itself and Ethereum, fostering flexibility and enabling complex blockchain applications.

Blockchain Gaming

Blockchain games require speed and cost efficiency for in-game assets and currencies. Traditional networks may fall short, but Taiko’s scalability supports fast, low-cost transactions. This allows players to experience true ownership and developers to create more engaging, cost-effective games.

Ethereum Scaling Solutions

Ethereum-based projects need to increase transaction throughput while cutting costs. Taiko batches transactions off-chain using ZK-Rollup technology while maintaining Ethereum’s security, resulting in more efficient dApps and better user experiences.

Developer Innovation and Hackathons

Developers and entrepreneurs seek platforms to showcase innovative blockchain solutions. Taiko’s hackathons and support programs encourage groundbreaking projects, expanding its ecosystem and driving blockchain innovation.

Why Choose Taiko for These Use Cases

Taiko stands out for these applications due to the following features:

• Ethereum Compatibility: As an Ethereum-equivalent Layer 2 solution, Taiko integrates seamlessly with existing Ethereum tools, wallets, and smart contracts.
• Scalability: ZK-Rollup technology supports high transaction volumes, ideal for DeFi, gaming, and NFT markets.
• Cost-Effectiveness: Lower transaction fees make blockchain interactions accessible to a broader audience.
• Security: By leveraging Ethereum’s robust security model, Taiko ensures a safe environment for decentralized applications.

Taiko Tokenomics

Taiko’s token allocation is as follows:

• 22% DAO Treasury
• 2% Guardian Prover Bonds
• 5% Grants & RetroPGF
• 10% Trailblazer Airdrop
• 1% Protocol Guild Airdrop
• 5% Genesis Airdrop (up to)
• 5% Initial Liquidity & Market Making
• 11.62% Investors
• 20% Taiko Labs / Core Team
• 16.88% Taiko Foundation Reserve
• 1.5% Taiko Official Prover Bonds

Taiko Investors and Backers

Taiko is supported by a strong network of investors and backers. Key names include Hashed Fund, Lightspeed Venture Partners, HongShan (formerly Sequoia China), OKX Ventures, GSR, IOSG Ventures, Mirana Ventures, Amber Group, and Wintermute, participating in Series A and other stages. Additional supporters like Token Bay Capital, Generative Ventures, KuCoin Ventures, and individual angel investors also contribute to the project’s growth.

Taiko Development Roadmap

Taiko’s roadmap outlines the platform’s technical progress and key milestones. Below are the planned updates and events for 2024 and 2025:

Q2 2024

• Taiko Mainnet Launch: Taiko’s mainnet was officially launched.
• Token Generation Event (TGE): The $TAIKO token was created and released to the market.
• Airdrop and CEX Listing: A token airdrop was conducted, and $TAIKO was listed on centralized exchanges (CEXs).

Q3 2024

• Mainnet: Gas Optimization: Achieved a 30% reduction in Layer 1 gas costs, making transactions more cost-effective.
• Testnet: Hekla Upgrade: The Hekla update was implemented on the testnet.
• Testnet: Ontake Hardfork: The Ontake hardfork was executed on the testnet.
• Testnet: zkVM Proof Integration: Zero-Knowledge Virtual Machine (zkVM) proofs were integrated into the testnet.

Q4 2024

• Mainnet: Ontake Hardfork: The Ontake hardfork was applied to the mainnet.
• Mainnet: zkVM Proof Integration: zkVM proofs were integrated into the mainnet.
• Devnet: Preconfirmation Demo: A preconfirmation mechanism demo was initiated on the development network.
• Testnet: Decentralized Security Council for Hekla: A decentralized security council for Hekla was established on the testnet.
• Devnet: Gwyneth Launch: The Gwyneth update was launched on the development network.

Q1 2025

• Testnet: Gwyneth Launch: The Gwyneth update was rolled out on the testnet.

Q2 2025

• Mainnet: Decentralized Security Council: A decentralized security council was activated on the mainnet.
• Mainnet: Gwyneth Launch: The Gwyneth update was implemented on the mainnet.

H2 2025

• Q3 2025 – Testnet: Hekla Preconfirmation: The preconfirmation mechanism for Hekla was tested on the testnet.
• Q4 2025 – Mainnet: Preconfirmation: The preconfirmation mechanism was deployed on the mainnet.

Taiko Team

• Daniel Wang: Co-Founder, CEO
• Brecht Devos: Co-Founder, CTO
• Terence Lam: Co-Founder, CSO
• Matthew Finestone: Co-Founder

Official Links

• Taiko Website
• Taiko X (Twitter)
• Taiko Whitepaper

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What is KiloEx?

KiloEx supports BNB Chain, opBNB, Manta, Taiko, and Base, offering gas fee payments in USDT and USDC, eliminating the need for native tokens. The platform enables no-signature transactions and provides an optimized trading speed, delivering a CEX-like experience.

Click to Register to Bybit Exchange with Discounted Commission!

Growing Interest in KiloEx!

In August 2023, YZi Labs invested in KiloEx, AltLayer, Kinza, and Sleepless AI. KiloEx is also a BNB Chain Airdrop Alliance member.

Recent data shows:

• Open contract value: $8 million

• Total users: 400,000+

• TVL (Total Value Locked): Dropped from $50 million to $38 million (DeFiLlama data)

With its robust trading infrastructure and airdrop incentives, KiloEx continues to attract investors. Bybit’s $KILO listing is expected to drive further adoption.

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Upbit’s Announcement Followed by Bithumb’s: Following Upbit’s announcement, Bithumb, the second-largest cryptocurrency exchange in South Korea, also started the day with an altcoin announcement.

BRETT and TAIKO Listings: In this regard, Bithumb announced that it will list the altcoins BRETT and TAIKO.

BRETT Listing Details:

Supported Market: Korean Won Market

Supported Network: BASE (Deposits from other networks are not supported.)

Deposit Start: 09.07.2024 (Tuesday) 15:00

Trading/Withdrawal Start: 09.07.2024 (Tuesday) 18:00

TAIKO Listing Details:

Supported Market: Korean Won Market

Supported Network: Taiko (Deposits from other networks are not supported.)

Deposit Start: 09.07.2024 (Tuesday) 15:00

Trading/Withdrawal Start: 09.07.2024 (Tuesday) 18:00

TAIKO and BRETT Price Increases: TAIKO is a zkEVM Ethereum layer 2 network supported by Vitalik Buterin. BRETT, on the other hand, is a memecoin on the Base chain. Following the listing news, BRETT and TAIKO prices increased by 14% and 16%, respectively.

The post Bithumb Announces Listing of Two New Altcoins! appeared first on Coin Engineer.

Speaking to Forbes, Daniel Wang, the co-founder, and CEO of Taiko Labs, highlighted the project’s aim of being as fair as possible when issuing tokens. “Our aim is to be fair and equal but it is impossible to make everyone happy. Congratulations to those who got the TKO, and sorry to those who did not” Wang said. The airdrop will be claimed once Taiko’s Layer 2 mainnet is launched and this is anticipated to happen soon after going through development and testing phases.

Token Allocation and Stakeholders

To ensure the long-term viability of the project, the distribution of Taiko tokens is carefully considered. An impressive 48.5% of the entire supply is set aside for important stakeholders. The core team and Taiko Labs will receive 20% of the total, the Taiko Foundation will receive 16.88%, and investors will receive 11.62%. Furthermore, 20% of the tokens will be held by the DAO Treasury.

Additional allocations include 5% for Grants and RetroPGF, another 5% for liquidity and market making, and 10% for the Trailblazer airdrop, which is separate from the genesis airdrop. The detailed and transparent distribution strategy reflects Taiko’s dedication to fostering a robust and supportive ecosystem.

Funding and Development Milestones

Taiko Labs has gained significant capital to support its progressive strategies, achieving $22 million in two funding rounds. The first funding was raised in 2022, in the form of a $10 million seed round, backed by Sequoia China. Another funding round was a $12 million pre-Series A round in 2023 led by Generative Ventures.

The new mainnet update is set to occur after a development period spanning several years and six testnets. Taiko’s network plans to be an Ethereum equivalent ZK-EVM (Type-1), which means it has to be fully compatible with the Ethereum mainnet.

These strategic developments and the community-focused initiatives mentioned above indicate that Taiko has what it takes to make a big difference in the blockchain industry. The genesis airdrop is an important way to incentivize its early adopters as the project progresses towards its next stage.

The post Taiko Announces Genesis Airdrop Ahead of Mainnet Launch appeared first on Coin Engineer.

Taiko said in a statement on Saturday that Lightspeed Faction, Hashed, Generative Ventures and Token Bay Capital accompanied the financing round. Other investors in the round included Wintermute Ventures, Flow Traders, Amber Group, OKX Ventures and many investor companies.

It is not yet clear whether the round has fully closed; the announcement talks about “closing commitments” and includes a note saying “certain investments continue to be subject to regulatory approval”.

The Series A announcement came after the project announced two financing rounds worth $22 million last June. It is unclear when Taiko started raising money for the last round and whether it used equity, tokens or a hybrid structure. Co-founder and Chief Operating Officer Terence Lam refrained from commenting on the timeline, structure and valuation but said all three rounds had the same structure.

The project launched its sixth test network last month and is preparing to launch its mainnet in the coming months.

What is Taiko?

Taiko is a Layer 2 scaling initiative aiming to make Ethereum cheaper while maintaining its fundamental features such as being censorship-resistant, permissionless, and secure. It is building the “Type 1” ZK-EVM, a ZK rollup that supports zero-knowledge proof computation and is compatible with the Ethereum Virtual Machine.

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Celestia is a platform that stands out in particular for its rollup technology. Rollup technology is becoming increasingly important as the Ethereum community seeks solutions to the current scalability problems. In this context, Vitalik Buterin’s positive statements about Celestia highlight the potential it could offer to the Ethereum ecosystem.

Basic Principles and Operation of Rollup Technology

The discussion was sparked when a user on social media defined Ethereum’s layer-2 protocols as rollups. At this point, the comments made by Daniel Wang, the founder of Taiko, allowed us to address the basic principles of rollup technology and how this technology works. The potential of rollups to use another chain for data availability could increase the diversity and functionality of the Ethereum ecosystem.

Validium Technology and Ethereum Security

Vitalik Buterin’s support for Daniel Wang’s comments, stating that Validium is a suitable option for many applications that can use DA guarantee systems to improve Ethereum security, provides an important perspective on how the security and scalability equation can be balanced. At this point, Buterin’s assessment, as Ethereum’s leading figure, highlights the solutions brought by Celestia and could be a guide for future similar projects.

EIP-4844 and Ethereum’s Rollup Strategy

Ethereum’s EIP-4844 upgrade states that a dedicated place will be reserved for rollups within the Ethereum blockchain. This development can be considered a critical step in determining Ethereum’s future rollup strategy. Buterin’s statements reflect Ethereum’s efforts to make data usage more efficient and economical with this strategy.

Celestia’s Role and Impact on the Ethereum Community

How did the praise of Celestia’s rollup technology resonate in the Ethereum community? How did the interest and support for the project lead to interactions between Ethereum developers, investors, and general users? In this context, we will try to understand the project’s future potential by deeply evaluating Celestia’s role and interactions in the Ethereum community.

The praise of Celestia’s rollup technology offers an exciting preview of the future evolution of Ethereum. As efforts to find solutions to scalability problems gain momentum, Celestia’s success could be a critical factor for Ethereum to maintain its competitive advantage. In this context, the project’s success could increase Ethereum’s overall competitive strength and further strengthen its position in the cryptocurrency world.

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