Taiko: Abbreviated Introduction
Taiko is a decentralized Ethereum-equivalent ZK-EVM and general-purpose ZK-Rollup. It allows developers and users of dApps developed for the Ethereum Layer-1 chain (L1) to use Taiko’s blockchain as if they are working on Ethereum L1. As a result, dApps can be easily deployed to Taiko’s network while maintaining security levels similar to those of Ethereum while incurring lower transaction fees than on the L1 chain.
Taiko aims to prioritize EVM-equivalence down to the opcode level, with Ethereum-equivalence at a broader systems level. Taiko also mitigates any proving performance drawbacks with protocol design and gives up Zk-friendly optimizations. Taiko is:
- Decentralized: Only rely on Ethereum public data; anyone can run a node.
- Permissionless: Any proposer or prover can participate.
- A community effort: A Type 1 ZK-EVM deriving from the work of the Privacy & Scaling Explorations team (Ethereum Foundation) on ZK-EVM circuits.
The Taiko team is now a twenty-person team across thirteen countries covering all continents, with most people having an engineering/research background. The creator of Loopring, the core ecosystem partner of Taiko, founded the project.
Taiko Labs Ltd., the organization developing the project, applied for trademarks in the USA and European Union in 2022. The company is registered in the Cayman Islands, a jurisdiction with a friendly stance toward digital assets and the cryptocurrency industry.
The Taiko token (TKO) will be the native token of the project, with details on the issuance and tokenomics expected upon Mainnet launch in 2023.
Taiko has seen fast growth in its followership across major social media channels. The Testnet was released on December 27th, 2022, and there are presently more than 320k unique wallet addresses, showcasing Taiko’s reputation in the crypto community.
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