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Vitalik Buterin Proposes First Block on Ethereum Layer 2 Taiko

Vitalik Buterin Proposes First Block on Ethereum Layer 2 Taiko

Ethereum co-founder Vitalik Buterin has proposed the first block for Taiko’s mainnet preparation. This is a major turning point for the Layer 2 scaling startup. In a noteworthy statement embedded within the block, Buterin emphasized his excitement for Taiko’s launch and the wider ramifications for the Ethereum ecosystem.

Vitalik Buterin On the Taiko Main Network

According to the Taiko mainnet block statement, Buterin said, “I’m excited to see that Taiko is launching as a based rollup.” He also emphasized Taiko’s creative strategy, saying, “I appreciate them being among the first to go in this direction. Ethereum benefits from L2s taking a plurality of different approaches.”

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By lowering transaction costs while maintaining the network’s essential characteristics of being safe, permission less, and censorship-resistant, Taiko seeks to solve Ethereum’s scalability problems. The company is creating a ZK-rollup known as “Type 1” ZK-EVM, or zero-knowledge proof computation, that is completely compatible with the Ethereum Virtual Machine. 

Furthermore, this technology enables more effective and safe transaction processing without sacrificing security or decentralization. Therefore, Taiko’s release as a ZK rollup marks a major advancement in the development of Ethereum’s Layer 2 solutions.

Taiko can provide scalable and affordable transactions by utilizing zero-knowledge proofs, which is essential for the broad adoption of decentralized applications. Furthermore, Buterin’s support highlights the value of many strategies in the Ethereum Layer 2 domain, which are critical to the network’s long-term viability and success.

Airdrop of Taiko Genesis

Before its mainnet launch, Taiko disclosed intentions to conduct an airdrop aimed at its community members. Five per cent of the 1 billion token supply will be dispersed as part of this operation, dubbed the “genesis airdrop.”

Community members who have interacted with the Taiko testnet are eligible for the first airdrop. Furthermore, people who participated in the Ethereum ICO contributed to particular GitHub projects and functioned as proposers and provers of blocks are qualified.

Of the tokens distributed by Taiko, 48.5% are given to important stakeholders. Of this, 11.62% is set aside for investors, 16.88% for the reserves of the Taiko Foundation, and 20% for Taiko Labs and its core personnel. Furthermore, twenty per cent of the tokens will go to the DAO Treasury.

Additional allotments consist of 5% designated for Grants and RetroPGF, 5% for liquidity and market making, and 10% for the Trailblazer airdrop—a distinct offering from the Genesis stream. Furthermore, the TKO genesis airdrop can be claimed after the Taiko Layer 2 mainnet goes live.

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