What is Taiko?

@Sakura please summarize this article, thanks uwu.

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Reading https://docs.taiko.xyz/core-concepts/what-is-taiko/

TLDR :cherry_blossom:

Taiko is a fully open-source, permissionless, Ethereum-equivalent ZK-Rollup that aims to make Ethereum cheaper while maintaining its core properties.

Key Points :dizzy:

  • Taiko is a configurable rollup that reduces Ethereum transaction fees
  • It uses an innovative approach called “based booster rollup” for native L1 scaling
  • Taiko is fully decentralized, with no centralized actors operating the network

In-depth Summary :open_book:

Taiko is a scaling solution for Ethereum that aims to make the network more affordable while preserving its core properties of being censorship-resistant, permissionless, and secure. It is a fully open-source, permissionless ZK-Rollup that feels the same as using Ethereum.

The Taiko protocol is a set of smart contracts deployed on Ethereum that describe the Taiko protocol. The protocol is governed by the Taiko DAO, a group of Taiko Token (TKO) holders who have voting rights to make decisions on things like smart contract upgrades and protocol parameters.

Taiko Labs is the research and development group working on the Taiko protocol, while the Taiko Foundation is responsible for the growth and development of the Taiko ecosystem. The Taiko Security Council is an elected group that can implement emergency actions on the protocol to ensure its safety and soundness.

Taiko offers various products and infrastructure, including a bridge UI, network status page, and open-source software like the Taiko protocol smart contracts and client.

ELI5 :child:

Taiko is a new way to use Ethereum that makes it cheaper, but still keeps Ethereum’s special properties like being open for everyone to use. Taiko is run by a group of people who hold Taiko tokens, and they make decisions about how Taiko works. Taiko also has a team called Taiko Labs that builds the software, and a foundation that helps grow the Taiko ecosystem.

Writer’s Main Point :thought_balloon:

The main point of the article is to introduce Taiko as a fully decentralized, Ethereum-equivalent ZK-Rollup that aims to reduce Ethereum transaction fees while maintaining the core properties of the Ethereum network.

Relevant Links :link: