Bankless What Are Taikos Goals and Prospects

CoinWorld reported:
Author: William M. Peaster, Bankless; Translation: Deng Tong,
Recently, Ethereum founder Vitalik Buterin pointed out that Taiko is a “great example of a rollup-based solution.” This Layer 2 (L2) is a relatively new approach, but what does it mean?
Certainly, a rollup is an L2 that processes Ethereum transactions off-chain and then sends the data back to the Ethereum mainnet (also known as Layer 1, or L1) to ensure security. Therefore, rollup-based is a newer concept within the rollup space. A key feature of rollup-based solutions like Taiko is that they use Ethereum L1 to order transactions.
In other words,
The transaction order in rollup-based systems is determined by Ethereum validators rather than separate orderers. By utilizing Ethereum for ordering, Taiko aims to be more decentralized than rollups that use centralized orderers, which characterizes most L2 solutions today.
Since L1 handles transaction ordering, rollup-based solutions can batch and confirm transactions more efficiently, potentially reducing operational and transaction costs.



Additionally, rollup-based solutions eliminate the need for further complexities such as external consensus mechanisms and signature-verifying sequencers for L2, thereby simplifying the technical architecture.
In summary,
Taiko represents an interesting new push in the Ethereum scaling space.
If you want to dive deeper, where should you start today?
First, you need to bridge ETH to Taiko.
I recommend using “quick bridging” platforms like Relay or Jumper to transfer ETH quickly; note that when you’re ready, you can also quickly transfer ETH out of Taiko using these same platforms.
What’s next? Well, there’s one thing to keep in mind,
Taiko Labs is currently overseeing its Trailblazers Season 2 activities, which will run from now until December 16, 2024.



The new season will distribute 5 million TAIKO tokens as rewards to L2 users for transactions, featuring an updated experience point system, new team opportunities, new badges, revised XP multipliers, and a new combat game called Faction Battle Arena.
A key way to engage with the Trailblazers 2 initiative is to try out top Taiko applications. For example, here are some applications that the Taiko team is currently highlighting:
Oku
— A bridging and swapping platform for Ethereum Virtual Machine (EVM) chains
Ritsu
— A decentralized exchange (DEX) on Taiko
iZUMi Finance
— A multi-chain DeFi protocol functioning as DEX-as-a-service
Meridian
— A stablecoin, perpetual contracts trading, and lending protocol
In terms of scale, according to L2BEAT,
Taiko is currently the 19th largest L2, but the network has significant room for growth—not only due to its novel and secure architecture but also because of the increasing demand from the Ethereum community for truly decentralized rollups.
Of course, the concept of “rollup-based” is relatively new in cryptocurrency and may take some time to catch on as to why networks like Taiko are so compelling. This knowledge gap regarding participating in the underlying rollup is your arbitrage opportunity!