TL;DR
- Taiko, an Ethereum-based rollup, has been launched on the mainnet, with the inaugural block proposal made by Vitalik Buterin.
- The protocol uses an accounting-based rollup approach, combining sequencing-based and a multi-test contestation mechanism.
- The project has a clear roadmap towards decentralization, following the “training wheels” scheme proposed by Vitalik.
After two years of development, the Taiko protocol has been deployed on the Ethereum mainnet, marking a significant milestone in the network’s scalability.
Vitalik Buterin, co-founder of Ethereum, proposed the inaugural block, underscoring the importance of the project within the Ethereum ecosystem.
Taiko adopts a rollup-based accounting (BCR) approach, which combines sequencing-based and contestation mechanism with multi-testing.
This translates into greater security and scalability for the network, with the goal of changing the scalability landscape of Ethereum.
Taiko’s roadmap towards decentralization is clear and well defined.
Dear Taiko Community,
We are beyond excited to announce that after two years of hard work, the Taiko protocol has been deployed on Ethereum mainnet! 🥳
Let's look at how you can start exploring Taiko today:
— Taiko 🥁 (@taikoxyz) May 27, 2024
Inspired by the “training wheels” scheme proposed by Vitalik Buterin, the project has mapped out a meticulous plan towards complete decentralization, spanning three clearly defined stages.
In the first stage, the initial structure of the protocol establishes that all contracts will be under the control of a multisig.
This setup provides a solid foundation for the initial operationalization of the protocol, ensuring stability and security while preparing for future transitions to a more decentralized model.
The second stage marks significant progress towards decentralization, where security guardians and protocol owners will be unified into a single multisig.
This consolidation of responsibilities and authority lays the foundation for more efficient governance and greater community involvement in key decision-making related to the Taiko protocol.
Finally, in the third stage, the completion of the decentralization process is planned, with all protocol contracts under the control of the Taiko DAO at layer 1 of Ethereum.
This transition marks an important milestone on the path to full autonomy, where the community takes a central role in the decision-making and continued evolution of the protocol on the Ethereum network.
The Taiko community has played a crucial role in the success of the project
The active participation of users, developers and other contributors has been essential to achieve the successful launch of the mainnet.
Taiko sincerely thanks everyone who has supported the project during its development.
The launch of Taiko on the Ethereum mainnet represents a significant advance in the scalability and decentralization of the blockchain network.
With its innovative approach and commitment to Ethereum‘s core values, the project is poised to play an important role in the future of the blockchain ecosystem.
