Ethereum (ETH) Co-Founder Vitalik Buterin Proposes Inaugural Block on Taiko Layer 2 with Optimistic Outlook

  • Ethereum co-founder Vitalik Buterin expressed optimism as he proposed the first block during the preparation of Taiko’s Layer 2 mainnet launch, highlighting the scalability of the network.
  • Taiko aims to address Ethereum’s scalability issues by making transactions cheaper while preserving the network’s core attributes of being censorship-resistant, permissionless, and secure.
  • Vitalik Buterin stated, “Ethereum benefits from L2s taking a plurality of different approaches, and I appreciate them being among the first to go in this direction.”

Vitalik Buterin proposes the first block for Taiko’s Layer 2 mainnet, marking a significant step in Ethereum’s scalability journey.

Vitalik Buterin On Taiko Mainnet

Vitalik Buterin, the co-founder of Ethereum (ETH), has proposed the first block in the preparation of Taiko’s mainnet. This marks a significant milestone for the Layer 2 scaling startup. In a notable message embedded within the block, Buterin expressed his enthusiasm for Taiko’s launch and the broader implications for the Ethereum ecosystem.

Innovative Approach and Endorsement

“I’m excited to see that Taiko is launching as a based rollup,” Buterin wrote, according to the message on the Taiko mainnet block. Moreover, he highlighted the innovative approach Taiko is taking. Furthermore, he continued, “Ethereum benefits from L2s taking a plurality of different approaches, and I appreciate them being among the first to go in this direction.”

Taiko aims to address Ethereum’s scalability issues by making transactions cheaper while preserving the network’s core attributes of being censorship-resistant, permissionless, and secure. The startup is developing a “Type 1” ZK-EVM, a ZK-rollup that is fully compatible with the Ethereum Virtual Machine and supports zero-knowledge proof computation.

This technology allows for more efficient and secure transaction processing without compromising on decentralization or security. Hence, the launch of Taiko as a ZK-rollup represents a significant step forward in the evolution of Ethereum’s Layer 2 solutions.

By leveraging zero-knowledge proofs, Taiko can offer scalable and cost-effective transactions, which are crucial for the widespread adoption of decentralized applications. Moreover, Buterin’s endorsement underscores the importance of diverse approaches in the Ethereum Layer 2 space, which are essential for the network’s long-term success and sustainability.

Taiko Genesis Airdrop

Earlier, Taiko revealed plans for an airdrop targeting its community members prior to its mainnet debut. This initiative, called the “genesis airdrop,” will see 5% of the total 1 billion token supply distributed.

Community members eligible for the initial airdrop include those who have engaged with the Taiko testnet. In addition, those who served as block proposers and provers, contributed to specific GitHub repositories, and participants in the Ethereum ICO are also eligible.

The token distribution for Taiko involves 48.5% allocated to significant stakeholders. Out of this, 20% is designated for Taiko Labs and its core team, 16.88% for the Taiko Foundation reserves, and 11.62% for investors. Additionally, the DAO Treasury will receive 20% of the tokens.

Other allocations include 5% for Grants and RetroPGF, 5% for liquidity and market making, and 10% for the Trailblazer airdrop, which is separate from the genesis airdrop. Moreover, the TKO genesis airdrop can be claimed once the Taiko Layer 2 mainnet becomes operational.

Conclusion

Vitalik Buterin’s proposal of the first block for Taiko’s Layer 2 mainnet is a significant milestone in Ethereum’s scalability journey. Taiko’s innovative approach and the upcoming genesis airdrop highlight the project’s commitment to addressing Ethereum’s scalability issues while maintaining its core attributes. The diverse approaches in the Ethereum Layer 2 space, as endorsed by Buterin, are crucial for the network’s long-term success and sustainability.

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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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