Buy Taiko (TAIKO)

Ethereum sometimes struggles with high transaction fees and slow processing times, especially during high network activity. The Taiko platform (TAIKO) aims to solve these issues by offering an open-source and permissionless ZK-rollup. Taiko's code is public, allowing anyone to participate in the network without the need for authority approval. A ZK-rollup is a technology that aggregates transactions and processes them off-chain. This enables both developers and users of Taiko to benefit from lower costs and faster transactions while retaining the advantages of Ethereum's secure infrastructure.

The team behind Taiko aims for lower transaction costs on Ethereum. To achieve this, they developed a rollup that seamlessly integrates with Ethereum’s existing infrastructure. The ZK-rollup is equivalent to Ethereum. This brings several benefits. It allows for performing transactions with Ethereum at lower costs. The same applies to Ethereum’s smart contracts, so developers of this technology also utilize the Taiko platform. Moreover, the design of this rollup includes a multi-proof system, a technology that enhances the security and reliability of the Ethereum Virtual Machine (EVM).

Who are the founders of Taiko?

Taiko is a product of Taiko Labs, founded in 2022 by Terence Lam and Daniel Wang. Daniel Wang is well-known as the founder of Loopring. Both men are recognized for their financial backgrounds and blockchain expertise. From day one, Taiko was thoroughly tested and continuously developed. On May 27, 2024, Taiko was launched on the Ethereum mainnet, with CEO Wang describing it as ‘the safest technology for an efficient Ethereum.’

One of Taiko's goals is enhancing transactions on the Ethereum network. This aims to significantly improve the experience of investors and developers with Ethereum. Those who use this ZK-EVM have the following capabilities:

• Secure transaction sending: Safe crypto transfers are made possible thanks to the Taiko Bridge. Sending digital assets between the Ethereum Mainnet and Taiko's layer 2 network is secure and seamless.
• Fast transaction sending: Taiko's infrastructure is designed to handle high volumes and process transactions quickly. As a result, processing time for things like swaps is much lower than before.
• Low-cost transaction sending: This layer 2 protocol aims to keep transaction costs as low as possible, making its use more economical compared to some exchanges.
• Performing token swaps: Through a user-friendly dApp, tokens can be directly exchanged with each other. This is known as 'swapping' and is facilitated by Henjin, Taiko's own DEX. Token swaps occur quickly and securely on this decentralized exchange.
• Choice of various crypto tokens to trade: Taiko's swap function supports various crypto tokens and different investment strategies, offering users more options.
• Preventing double spending: The crypto you send from Ethereum to Taiko is securely locked on the Ethereum blockchain. Thanks to the security layer, issues like manipulation or double spending do not occur.

Taiko combines the Ethereum network with ZK-rollup technology. Moreover, it is a layer-2 protocol, a second layer on top of an existing blockchain. This additional layer aims to enhance the scalability and efficiency of the Ethereum network. This is the primary goal of Taiko, a ZK-EVM that provides a scalability solution for Ethereum.

Creating a new block on Taiko's layer 2 network is part of an extensive process. First, the status of the corresponding block on layer 1 (the main blockchain) is stored in a smart contract on Taiko. This occurs through a transaction that confirms the connection between both networks. There is an 'anchor transaction' that verifies the current state of the networks, enhancing security and reliability.

Contestable rollups

Taiko uses so-called contestable rollups (BCR). This involves bundling multiple off-chain transactions before sending them to Ethereum. Verifying the contents of these bundles is entrusted to network participants. Thus, we call this process 'contestable.' The goal is to increase transparency while reducing gas fees.

With staking, Taiko encourages the active involvement of token holders. At Taiko, it's no different. This ZK-EVM rollup also encourages investors to actively participate in the network, for instance, by offering staking. This means that tokens are committed and held for extended periods to support the network enhancing liquidity and network security.

Someone who stakes receives additional TAIKO tokens as a reward. This encourages engagement and loyalty, creating a strong network. Moreover, staking Taiko is not complicated. Essentially, all you need is a wallet. Choose the 'staking' option and decide how many tokens you want to lock up for an extended period.

Taiko is a layer 2 solution for Ethereum, among several available on the market, however Taiko is unique for the following reasons:

• Secure, permissionless, and censorship-resistant: Taiko upholds the values of permissionlessness, security, and censorship resistance in crypto, which are also central to Ethereum. The rollups strengthen these values.
• Open-source: Taiko's code is completely open-source, meaning anyone can view, modify, and contribute to the code.
• Operates efficiently: Taiko processes transactions off-chain and only records summaries on the Ethereum network (on-chain). This results in faster transaction processing and increases the network’s capacity to handle higher transaction volumes, greatly improving scalability.
• Transparent: As an open-source project, a global community of developers contributes to Taiko, driving innovation and growth. Additionally, the community operates without a single authority, being decentralized.
• Employs advanced cryptographic techniques: Taiko utilizes various advanced techniques not commonly found in every rollup. One such technique is Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge, or simply zk-SNARKs. This Zero-Knowledge Proof method ensures transactions are verified while maintaining user privacy.
• Costs are relatively low: Thanks to ZK-rollup technology, thousands of transactions are aggregated and processed off-chain. This results in lower transaction costs, benefiting crypto investors.

If you want to buy Taiko (TAIKO), Bitvavo's platform offers an environment both beginners and experienced traders. Follow the steps below to acquire TAIKO via our website or app:

1. Create an account or log in to your Bitvavo profile.
2. Click on "Deposit" to add funds to your account.
3. Visit the sales page for Taiko (TAIKO) to check the current price.
4. Enter the desired amount in euros or the number of TAIKO tokens you wish to purchase and click on "Buy".

After purchase, your TAIKO tokens are immediately added to your Bitvavo account where you can easily manage and trade them. This makes it easier to quickly respond to price changes. Don't forget to follow the latest news about Taiko so you don't miss any important developments.

Safety is crucial when storing your tokens. Bitvavo offers excellent security by keeping most of the tokens offline in cold storage, thus away from the internet.

To enhance your security, you can enable two-factor authentication (2FA). Download the Google Authenticator app and link it to your Bitvavo account. Google Authenticator generates a new code every minute, which you use alongside your password to log in, preventing unauthorized access to your account.