Fri, July 26, 2024 at 09:46

• 

  Joy

  • Hey Annie!

  • Have you heard about the latest updates from Ethereum Layer 2 Taiko (TKO)?

  • They've just announced their roadmap for future development, and it looks super exciting!😄

  • 
• Annie

  • Oh, really?

  • What's new with Taiko?🤔

  
• 

  Joy

  • Well, they have this Ontake upgrade set to launch on the mainnet in Q4 of this year.

  • Since their mainnet launch in May, they've managed to reduce Layer1 gas costs by more than 30% and have TVLs up to $200 million!🚀

  • 
• Annie

  • Wow, that's impressive!

  • What exactly is Taiko aiming to achieve with their protocol?🤓

  
• ADward

  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Joy

  • Taiko is all about providing a universal ZK-Rollup (Type-1 ZK-EVM) for Ethereum.

  • ZK-Rollups are known for their privacy and speed, but they usually have low compatibility with the Ethereum Virtual Machine (EVM).

  • Taiko is working to keep the benefits of ZK-Rollups while making them highly compatible with Ethereum.

  • This should help lower transaction costs and allow developers to build better dApps.🌐

• Annie

  • That sounds like a game-changer!

  • How are they managing to keep everything decentralized?🤯

  
• 

  Joy

  • Great question!

  • Taiko uses something called Based Rollup technology.

  • Instead of a centralized sequencer, they use Ethereum validators to manage transactions and blocks.

  • This way, they maintain decentralization and security.

  • It's pretty unique because most other rollups rely on a centralized entity for sequencing.🔐

• Annie

  • Interesting!

  • So, how has Taiko been performing since its launch?📈

  
• 

  Joy

  • In just two months since their mainnet launch, Taiko has achieved $138.7 billion in TVL, 19.53 TPS, 21.57 million total transactions, and 700,000 independent wallets.

  • They've also integrated with over 80 projects, including big names like LayerZero and Stargate.

  • Their Discord community has grown to 1.07 million members!🌟

• Annie

  • That's incredible growth!

  • How are they funding all these developments?💰

  
• 

  Joy

  • They've raised a total of $37 million in funding, including a $15 million seed round led by Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital.

  • This funding helps them explore services that provide the best tools and experience for developers.💸

• Annie

  • It sounds like they're really committed to decentralization.

  • Why is that so important to them?🧐

  
• 

  Joy

  • Daniel Wang, the co-founder and CEO of Taiko, has a history with the Loopring project, which was the first zkRollup.

  • He learned the importance of permissionlessness and decentralization from that experience.

  • He believes that many applications, especially decentralized social networks, need these principles to thrive.🏗️

• Annie

  • Got it.

  • So, what's their ultimate goal with all these developments?🎯

  
• 

  Joy

  • Taiko's goal is to achieve 'ownerless' status as soon as possible.

  • This means that Taiko Labs will gradually relinquish all privileges, ensuring that the network can maintain its value and trust without the presence of its developers.

  • They believe that rollups are the key to scaling Ethereum in a decentralized manner.🌍

• Annie

  • Wow, that's quite a vision!

  • Do you think this news is good or bad for the market?📊

  
• 

  Joy

  • Oh, it's definitely good news!

  • Taiko's advancements in decentralization and compatibility with Ethereum can lower transaction costs and enhance the overall ecosystem.

  • This could attract more developers and projects, boosting the market.

  • So, it's a big thumbs up from me!👍

  • To sum up, this article is considered a 😍Bullish for investors!!