Hey everyone, have you heard about Taiko? No, it's not the traditional Japanese drum, but it's also to become the next big thing as an Ethereum solution.
馃寪 What is Taiko?
Taiko is a project aiming to solve one of the biggest challenges facing Ethereum: scalability. Think of Ethereum as a busy highway with lots of traffic, but not enough lanes to handle it all. Taiko wants to add more lanes to this highway so that transactions can flow smoothly, quickly, and cheaply.
馃幆 What's Their Goal?
Their mission is simple: to make Ethereum bigger, better, and faster. They want to do this by creating a Layer 2 solution called a ZK-rollup, which essentially means they're building a second layer on top of Ethereum to handle more transactions without bogging down the main network.
馃殌 Where Are They Now?
Right now, Taiko is in the testing phase, trying out different ideas and mechanisms to see what works best. They've already launched four public testnets, each one teaching them how to make their system run smoothly. Plus, they've got some cool rollup designs in the works, like the Based Contestable Rollup (BCR) and Based Booster Rollup (BBR).
馃挵 How Much Money Have They Raised?
Taiko has raised a whopping $22 million in funding from some big-name investors like Sequoia China and Generative Ventures. Those are big numbers so early in the project.
馃 And What About Other Projects?
There are plenty of other projects out there trying to solve the same problem, but Taiko stands out because of its focus on decentralization, permissionlessness, and security.
So, if you're excited about the future of Ethereum and want to see it reach new heights, keep an eye on Taiko. They're drumming up some serious innovation in the world of blockchain technology!
P.S Right now Taiko is a really great project to try and test the testnet and be ready for future airdrops becoming an early adopter might give some big bucks later
If you have time give a read here
Links
https://taiko.xyz/
https://twitter.com/taikoxyz
https://web.archive.org/web/20230329090838/https://taikoxyz.github.io/taiko-mono/taiko-whitepaper.pdf
