Layer 2 project Taiko launches final testnet ahead of planned mainnet release in Q1
Quick Take: Taiko launched its final testnet, Katla, before its expected mainnet release by the end of Q1 2024. Katla introduces a new rollup design called multi-proof based contestable rollup, combining aspects of Optimistic and ZK-rollups.
Katla, the sixth Taiko testnet from Taiko developers, introduces a new rollup design known as the multi-proof based contestable rollup . This combines elements of both Optimistic and ZK-rollups — expected to benefit decentralized applications requiring high throughput and cost efficiency.
In terms of its overall architecture and execution, Taiko is an Ethereum-equivalent ZK-EVM (Type-1), which has the same compatibility as the Ethereum mainnet.
“We are excited to share this latest testnet with our community and partners, aiming to further enhance the scalability and security of the Ethereum network. Taiko is the first Layer 2 to test multiproof solutions in a public testnet,” said Daniel Wang, CEO of Taiko Labs.
Unlike Layer 2 rollups with centralized sequencers, Taiko claims to rely on Ethereum validators to sequence transactions and blocks — to gain its security and censorship resistance.
Taiko Labs, the team developing the Layer 2 network, raised $22 million across two rounds earlier. The first was a $10 million seed round led by Sequoia China in 2022, and the second was a $12 million pre-Series A round led by Generative Ventures in 2023.
Other investors in the two rounds included IOSG Ventures, GSR, GGV Capital, and angel investors such as POAP founder Patricio Worthalter, Tim Beiko of the Ethereum Foundation, and Ethereum educator and investor Anthony Sassano.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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