Taiko Poised for Prominent Growth in Global Markets

From the very inception of Taiko, the project has been seen as highly promising, even earning mentions from Ethereum co-founder Vitalik Buterin. With the mainnet now operational, the explosive growth in transactions and ecosystem expansion has drawn significant attention to Taiko’s future roadmap and milestones across global markets, including South Korea.

At the Korea Blockchain Week (KBW) 2024 event held at Walkerhill, Bloackmedia sat down with Taiko co-founder and CEO Daniel Wang to discuss Taiko’s competitive edge in the Ethereum roll-up sector, as well as its future strategic plans and timelines.

# CEO Introduction

Q: Could you briefly introduce yourself?

A: My name is Daniel Wang. I first entered the world of cryptocurrency in 2013. My first project was ‘Loopring,’ and I am currently working as the co-founder and CEO of Taiko. With a technical background, I previously worked as a software engineer at Google and later served as an engineering director at several high-tech companies in China.

# Position and Unique Value

Q: Where does Taiko stand in the blockchain ecosystem, and what unique value does it offer compared to other solutions?

A: Taiko has many unique aspects. While we strive to scale Ethereum, we do not want to compromise on security or the permissionless nature of blockchains. One of the greatest advantages of developing on Ethereum is its resistance to censorship. Most Layer 2 solutions are centralized, but we believe Ethereum should be scaled correctly. Taiko is the first platform to adopt Based Rollup, allowing anyone to propose blocks. This differentiates us, and I believe that in the next two to three years, other based rollups inspired by our ideas will emerge.

# Addressing Centralization and Speed Issues

Q: Based Rollup can result in slower block creation speeds and longer user wait times compared to centralized Layer 2 solutions. How does Taiko plan to address this issue?

A: We are collaborating with the Ethereum Foundation to develop a feature called ‘pre-confirmation.’ This allows transactions to be confirmed before they are included in a block, enabling users to receive confirmations faster. Additionally, by using resources efficiently and proposing blocks only when necessary, we can reduce costs and improve user experience. We are confident that we will resolve this issue within a year.

# Vitalik Buterin’s Acknowledgment

Q: Taiko has been frequently mentioned and acknowledged by Ethereum founder Vitalik Buterin. Why do you think that is?

A: I believe it is because our approach aligns very closely with Ethereum’s vision for roll-up expansion. The founders of Ethereum want decentralized, permissionless, and non-custodial roll-ups. The term ‘based rollup’ itself was used by Ethereum researcher Justin Drake. We are working to solve problems with this vision in mind, prioritizing technical advancements such as pre-confirmation.

# Major Achievements Post-Mainnet Launch

Q: Taiko recorded over 110 million transactions within 90 days of the mainnet launch. Can you share some key achievements?

A: From a technical standpoint, we achieved true permissionlessness after the mainnet launch. Initially, only the foundation could create blocks, but now anyone can. Besides, we have made operational achievements in transaction volume, TVL, and dApps, but much work remains in ecosystem development. We plan to achieve even more significant milestones going forward.

# Upcoming Projects

Q: Recently, Taiko held the Trailblazer airdrop event. Are there any upcoming projects you are particularly looking forward to?

A: Trailblazer is a campaign to encourage app deployment on our platform. While we do not have preferences for specific app categories, we believe decentralized social networks, gaming, and DeFi sectors align well with Taiko. We are particularly excited about the potential of decentralized social networks.

# Updates and Events for Investors

Q: Taiko is listed on several domestic exchanges, including Upbit. Are there any updates or events that investors should look forward to?

A: We have four main technical milestones. First, achieving full decentralized governance through the launch of Taiko DAO. Second, verifying all blocks using Zero-Knowledge Proof (ZK Proof). Third, implementing the pre-confirmation feature to improve user experience. Lastly, introducing ‘compatibility sync’ technology to operate two mainnets. We are working hard to achieve these milestones.

# Thoughts on the Korean Market

Q: What are your thoughts on the Korean market?

A: The Korean market is one of my favorites. There are many exceptional researchers in Korea, and reports related to Taiko are of high quality. We plan to engage more actively in Korea, providing real-time updates to help investors and partners make informed decisions.