Ethereum

2024

Taiko

At the height of the COVID-19 pandemic, China plunged its economic capital, Shanghai, into a two-month lockdown in an attempt to outlast the virus — but it also wanted to eradicate any dissent regarding its zero-COVID policies, sparking one of Ethereum’s so-called “based rollups.”
“I lived in my apartment in the Shanghai COVID shutdown. I lived in my small apartment for almost three months without going out once,” Daniel Wang, co-founder and CEO of Taiko Labs — creator of the Ethereum layer 2 <a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/what-are-blockchain-rollups" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/explained/what-are-blockchain-rollups">based </a><a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/what-are-blockchain-rollups" rel="noopener noreferrer nofollow" target="null" text="null" title="null">rollup</a> Taiko — told Cointelegraph at DevCon in Bangkok.
“I felt like I wanted to say things in China, but it’s not allowed. So my first idea is to build a decentralized publishing network,” he said.
“It’s not going to be censored. Anyone can publish anything without revealing their true identity and the government cannot do anything. It’s just unstoppable.”
The idea was simple, but it had to count on <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-upgrade-ethereum-defi" rel="noopener noreferrer nofollow" target="null" text="null" title="null">a scaling solution</a> — a problem, Wang said, as solutions at the time, like <a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/what-is-optimism-ethereums-layer-2-scaling-solution-explained" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Optimism’s</a> OP Stack and <a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/zk-starks-vs-zk-snarks-explained" rel="noopener noreferrer nofollow" target="null" text="null" title="null">StarkWare</a>, required signature verifications.
“They can all be shut down by someone,” he said. “Maybe not by the Chinese government, but it will be shut down by other governments, if possible — if it’s needed.”
“True freedom of speech should be empowered by some more solid technology. It’s not there,” Wang said.
He then later came to make Taiko with fellow co-founder and operating chief Terence Lam.
Taiko <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/based-rollups-could-improve-ethereum-incentives-say-commentators" rel="noopener noreferrer nofollow" target="null" text="null" title="null">is a based rollup</a>, a layer-2 chain that uses validators from a <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/a-beginners-guide-to-understanding-the-layers-of-blockchain-technology" rel="noopener noreferrer nofollow" target="null" text="null" title="null">layer 1</a> like Ethereum to handle processing instead of its own sequencers — and it doesn’t use signature verifications.
<figure><img alt="China’s lockdown censorship inspired Ethereum ‘based rollup’ Taiko" src="https://s3.cointelegraph.com/uploads/2024-11/019328b8-cd1e-7eb7-ba9e-4ca56eba93e0" title="">
 <figcaption style="text-align: center;">
 Daniel Wang speaks to Cointelegraph editor Andrew Fenton at Devcon 2024 in Bangkok, Thailand. Source: Cointelegraph
 </figcaption>
</figure>
“When we designed this based rollup, we had a single objective: to remove any central sequencer or centralized component from our rollout and make it what I call ‘ownerless,’” he said.
Wang said his goal for Taiko was to show the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/new-eip-speed-up-ethereum-block-creation-times" rel="noopener noreferrer nofollow" target="null" text="null" title="null">feasibility of based rollups</a> — whether it’s the most used is second to demonstrating that such networks “can beat the centralized signature-based rollups.”
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/op-cat-may-go-live-bitcoin-within-12-months-starkware-eli-ben-sasson" rel="noopener noreferrer nofollow" target="null" text="null" title="null">OP_CAT could go live on Bitcoin within 12 months: Eli Ben Sasson</a>
“I am open to copycats — just copy my code and just improve it as long as you share your improvements with us,” he said.&nbsp;
“Let’s scale Ethereum in the right way, and if Taiko happens to be a successful L2, that would be great. If Taiko is just lessons learned for future rollups, which are successful, that’s also great.”
“Let’s help each other,” Wang said. “Together, we are stronger.”
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/simple-change-save-ethereum-roadmap-to-hell/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Proposed change could save Ethereum from L2 ‘roadmap to hell’</a>
Additional reporting by Andrew Fenton.

China’s lockdown censorship inspired Ethereum ‘based rollup’ Taiko

Cointelegraph

Other articles published on Nov 14, 2024

Phantom wallet update glitch leads to losses for some iOS users

Trump’s Election Boosts Optimism in the Cryptocurrency Market

Bitcoin hot on the heels of Google as market cap nears $2 trillion

FBI Raids Home of Polymarket CEO Amid Election Betting Controversy

Crypto.com acquires Australian broker Fintek Securities to expand financial services

$650 Million Wipe Out in Crypto Liquidation, What’s Happening?

Join our free newsletter for daily crypto updates!