Ethereum Layer 2 Taiko goes live on mainnet

Ethereum-based rollup Taiko has rolled out its Layer 2 mainnet after being in development since 2022 and undergoing seven testnets.

Ethereum co-founder Vitalik Buterin proposed the inaugural block on Taiko’s mainnet, with metadata containing the names of every Taiko core contributor.

Taiko is a based rollup — a type of rollup that relies on Ethereum block validators to sequence transactions, benefiting from the liveness and security assurances provided by the underlying layer.

At the initial stage, Taiko’s rollup protocol contracts on Ethereum are controlled by a multisig arrangement. The protocol initially requires SGX proofs, with a plan to transition to requiring 50% of blocks to use ZK proofs as part of its long-term scaling and security strategy.

“We’re super excited to finally launch Taiko on the Ethereum mainnet,” said Taiko Co-founder and CEO Daniel Wang. “It’s been a long time in the making, and we’re beyond thrilled to deliver what we believe is the most secure technology to scale Ethereum.”

Furthermore, Taiko incorporates a type-1 zero-knowledge virtual machine designed to emulate the Ethereum architecture and includes a multi-proof proving system. This system enhances security by allowing the submission and contestation of multiple types of proofs.

The Taiko token is expected to launch a few weeks after the mainnet goes live. Additionally, Taiko plans to introduce a points incentive program called Trailblazers to engage its community by rewarding them for completing tasks and interacting with the network.

The project recently announced an airdrop for its community members ahead of its mainnet launch. It is set to distribute 5% of its 1 billion token supply in what it describes as a “genesis airdrop.”

Taiko also plans to launch a DAO later in the year to progressively transfer protocol control to its community. This transition will occur through a phased approach, reducing the “training wheels” over time until full governance is achieved by the community.

Network stability

Initially, Taiko will control block proposing and proving for the first two weeks after launch to ensure network stability. Eventually, these processes will be decentralized and permissionless — allowing users to engage in node running, block proposing, and proving.

After the network stabilizes, both proposing and proving blocks will be permissionless to everyone. Node running, an activity Taiko highlighted as important as proposing and proving, is already accessible to the public, the team said.

“Security has always been the number one priority for Taiko,” said Wang. “As with any new software deployment, especially a blockchain, there will be turbulence. That’s why we want to first see the network stable and then open the gates to everyone. That’s for everyone’s benefit.”

Since its inception in 2022, Taiko has raised $37 million to date across two rounds.