๐ Introducing Taiko: Scaling Ethereum with ZK-Rollups ๐
๐ Let's dive into key features and potential of #TAIKO in this captivating thread! ๐งต๐
1๏ธโฃ Introduction and Overview: Taiko aims to be a fully Ethereum-equivalent ZK-Rollup, scaling Ethereum while maintaining its core principles. It provides a scalable and efficient platform for decentralized applications (dApps) without requiring changes to existing dApps. Taiko leverages the Zero Knowledge Ethereum Virtual Machine (ZK-EVM) to achieve this.
2๏ธโฃ Technology and Features: Taiko uses ZK-Rollup technology to improve scalability. It combines the benefits of both optimistic and ZK rollups, reducing costs and increasing decentralization. Unlike other rollups, Taikoโs sequencing relies on Ethereum Layer 1 validators, ensuring decentralization. Enhances security by allowing dynamic configuration adjustments as technology evolves.
3๏ธโฃ Whitepaper Analysis: Taiko can be configured as ZK rollup, optimistic rollup, or a hybrid, maximizing cost reduction and decentralization. It Solves parallel proving issues by using an off-chain prover market. No centralized sequencer; Ethereum validators maintain sequence ability. Token penalties ensure timely proof submission.
4๏ธโฃ Use Case: Taikoโs primary use case is to reduce transaction fees on Ethereum. Users interact with Taiko much like using Ethereum itself. The TAIKO token plays a pivotal role in governance within the Taiko DAO, granting voting rights to token holders.
5๏ธโฃ Team and Leadership: Taikoโs development and project management team consists of experts in blockchain and finance. Their expertise drives the project vision, ensuring security, transparency, and efficiency. Specific information about team is not available.
6๏ธโฃ Partnerships: Taiko recently announced a successful fundraise, securing $37 million across three funding rounds ahead of its mainnet launch this year. Taikoโs latest $15 million Series A round was led by Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital, with participation from Wintermute Ventures, Presto Labs, Flow Traders, Amber Group, OKX Ventures, GSR, WW Ventures, and more.
7๏ธโฃ Security and Audits: Details about security audits are not available.
8๏ธโฃ Tokenomics: TAIKO circulating supply is 63.18 million tokens, with a maximum supply of 1 billion.
9๏ธโฃ Exchanges: Taiko is traded on several top exchanges, including Bybit, Bitget, Gate.io, KuCoin, MEXC and many more.
๐ Recent Developments: Taiko recently closed a Series A funding round, securing $15 million led by Lightspeed Faction, Hashed, and Generative Ventures. In June TAIKO get listed on several top tier exchanges.
1๏ธโฃ1๏ธโฃ Conclusion: Taikoโs commitment to scalability, security, and decentralization positions it as a promising solution for Ethereum users, contributing to the networkโs resilience and growth. Keep an eye on their progress as they continue to innovate!
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