What is Taiko (TAIKO)?
Taiko (TAIKO) is a fully permissionless and decentralized ZK-Rollup layer-2 that is Ethereum equivalent. But what does that mean for the average user? Simply put, using Taiko is akin to using Ethereum itself. It retains all the core properties that make Ethereum a powerhouse in the blockchain world – censorship-resistance, permissionless nature, and robust security.
How Taiko (TAIKO) Works
Taiko operates on the principle of a based rollup, a revolutionary concept that distinguishes it from traditional rollup solutions. Unlike other rollups, Taiko's sequencing is not driven by a centralized entity. Instead, it relies on Ethereum's base layer for sequencing, effectively decentralizing the process and empowering the community.
The Significance of Based Rollups
Based rollups are an innovative solution to blockchain scalability. By aligning with Ethereum's base layer for sequencing, Taiko enhances security and decentralization. This approach not only simplifies the architecture but also reinforces Ethereum's economic guarantees, as most MEV flows naturally to the base layer.
● Decentralized Sequencing: Based rollups remove the need for centralized sequencers, placing the sequencing responsibility on Ethereum's base layer validators. This decentralization ensures trustlessness and resilience against attacks.
● Economic Alignment: By aligning with Ethereum's base layer, based rollups strengthen Ethereum's economic guarantees. Most importantly, MEV (Miner Extractable Value) flows naturally to the base layer, enhancing economic security and scarcity of Ethereum's native token.
● Simplicity and Efficiency: Based rollups streamline the transaction process, making it more efficient and cost-effective. With no need for complex consensus mechanisms or external validators, based rollups offer a simpler and more user-friendly experience.
The Components of Taiko
● Settlement Layer: Ethereum serves as Taiko's settlement layer, providing objective on-chain finality.
● Data Availability Layer: This layer ensures that everyone can access the data required to reconstruct the Taiko chain state.
● Consensus Layer: Taiko does not have a separate consensus layer. Instead, it leverages Ethereum's consensus mechanism for transaction ordering, enhancing decentralization.
● Execution Layer: Taiko executes transactions off-chain, utilizing the posted transaction data to construct the state of the rollup.
TAIKO Goes Live on Bitget
TAIKO, the native governance token of Taiko, is now listed on Bitget.
Bitget's platform offers users a secure and accessible environment for trading TAIKO, enabling them to engage in the governance activities of Taiko while also benefiting from the liquidity and trading opportunities provided by Bitget's platform. This listing provides an opportunity for individuals to actively participate in the Taiko community and contribute to the growth and development of the ecosystem.
