What is TAIKO coin? What about TAIKO coins?

The recently launched project TAIKOcoin has attracted the attention of the investment market, but many investors still don’t know what currency TAIKOcoin is? Don’t dare to invest rashly. It is understood that TAIKOcoin is the native token of the Taiko protocol, and its main uses are incentives, management, etc. And Taiko is a decentralized second-layer blockchain protocol that uses the Zero-Knowledge Ethereum Virtual Machine (ZK-EVM). It aims to be the closest and most versatile zero-knowledge aggregation to Ethereum, providing users with a scalable and efficient platform. Next, the editor will give you a comprehensive introduction to the TAIKOcoin, so that investors can better understand the TAIKOcoin and judge its investment value.

What currency is TAIKO coin?

TAIKO coin is the native token of Taiko, the Ethereum second-layer network based on zkRollup. Taiko is a Type 1 zkEVM, making it fully equivalent to ETH. It prioritizes EVM compatibility and zkRollup decentralization over proof generation. It is also part of Loopring.

When users conduct transactions on the Taiko Layer2 network, they are required to pay transaction fees, which will be collected by the block proposer. Block proposers must burn a certain amount of TAIKO coins and pay Ethereum validators in ETH to ensure their blocks are included in the Ethereum Layer1 network.

TAIKO coins are used to reward block validators who ensure the validity of transactions by generating and verifying zero-knowledge proofs (zkProofs). The transparency of TAIKO coins ensures that the user experience is similar to that on the Ethereum network.

TAIKO coins are used in the margin system of BCR and BBR to ensure the integrity and timeliness of network operations. Forfeited deposits are not lost but redirected to TaikoTreasury at L1.

TAIKO coin holders can participate in network governance, influence network upgrades and manage TaikoTreasury, maintaining the permissionless nature of the network on L1 and L2.

Taiko is a fully open source, permissionless equivalent of Ethereum’s ZK-Rollup, designed to make Ethereum transactions cheaper while maintaining its core features such as censorship resistance, security, and permissionlessness. By implementing a convolution-based architecture, Taiko extends Ethereum’s functionality without changing its fundamental characteristics, ensuring seamless integration and use with Ethereum itself.

How about TAIKO coins?

TAIKO coin is performing well. According to official data, the current price of TAIKO coin is US$2.88, which is lower than the historical high price of US$3.8. The issuance price is unknown. The online exchanges include mainstream exchanges such as Open Sesame and Biji. Judging from the above, the development of the TAIKO currency market is not bad, but it was launched late and the future development remains to be seen.

Taiko is a competition-based convolution on Ethereum that improves scalability and reduces transaction costs while retaining the core properties of the Ethereum network. It achieves this through a combination of ranking-based, multi-defense systems and unique competitive mechanics. This architecture enables Taiko to provide a scalable, secure and cost-effective solution for Ethereum transactions, paving the way for wider adoption and use of decentralized applications.

Taiko’s mainnet launch on May 27, 2024 marks an important milestone for the Ethereum community. Ethereum co-founder Vitalik Buterin, who proposed the first block, expressed excitement about Taiko as an innovative approach based on rolling. The launch of Ethereum is the culmination of two years of development and provides a scalable, decentralized and cost-effective solution that maintains the core attributes of Ethereum while enabling seamless interaction and interaction on the network. Transaction processing.

The Taiko protocol adopts an ordering-based approach, where transaction ordering is handled by Ethereum L1 validators, eliminating the need for a centralized orderer. Additionally, the protocol features a multi-validation system for enhanced security and a competition mechanism for verifiable state transitions, making it a robust and scalable solution that reduces transaction fees and increases Ethereum’s scalability.

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