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Ethereum Layer-2 rollup project Taiko has announced the launch of Katla, the final test network before the expected mainnet release in the first quarter of 2024. Katla, the sixth Taiko test network designed by Taiko developers, offers a new rollup design known as a multi-proof-based rollup. Let’s explore the details you need to know about Taiko.
What Should You Know About Taiko?
Taiko developers have modeled a rollup project that brings together elements of both Optimistic and zero-knowledge rollups. This design is expected to benefit decentralized applications that require high throughput and cost efficiency.
In terms of general architecture and operation, Taiko is a zero-knowledge Ethereum Virtual Machine (ZK-EVM) model that is compatible with the Ethereum mainnet. Taiko Labs CEO Daniel Wang made the following statement:
“We are excited to share this latest test network with our community and partners, aiming to further increase the scalability and security of the Ethereum network. Taiko is the first Layer-2 project to test multi-proof solutions on a public test network.”
Unlike Layer-2 rollup projects with centralized sequencers, Taiko relies on Ethereum validators to sequence transactions and blocks to gain security and resistance to censorship.
Noteworthy Details About Taiko
The team developing the Layer-2 network, Taiko Labs, has successfully raised 22 million dollars in two funding rounds. The first of these funding rounds was a 10 million dollar seed round led by Sequoia China in 2022, and the second was a 12 million dollar pre-Series A round led by Generative Ventures in 2023.
Among the investors in both funding rounds were IOSG Ventures, GSR, GGV Capital, and angel investors such as POAP founder Patricio Worthalter, Tim Beiko from the Ethereum Foundation, and Ethereum educator and investor Anthony Sassano. With the announcement of the Katla test network on January 15, posts about potential airdrop events started appearing on social media platforms. Many Web3 users believe that the Taiko team will initiate an airdrop event following the mainnet launch.
