Taiko, an ‘Ethereum-Equivalent ZK Rollup,’ Raises $15M
The Taiko project, distinguished for its “based sequencing” architecture, is one of several competing for relevance among a deep field of Ethereum layer-2 networks.
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The Taiko project, distinguished for its “based sequencing” architecture, is one of several competing for relevance among a deep field of Ethereum layer-2 networks.
Polygon Labs, a developer of scaling networks for Ethereum, has shifted toward “Polygon CDK,” a blockchain-development kit powered by zero-knowledge cryptography. The older “Polygon Edge” was used by Dogechain, in an unofficial effort to build a Dogecoin-oriented smart-contracts network.
The new “Cronos zkEVM chain” is launching initially as a test network, based on Matter Labs’ software tools, which can be used to spin up new layer 2 and layer 3 “hyperchains” atop Ethereum.
Vitalik Buterin, a member of the Ethereum Foundation’s executive board, once pushed “layer-2” networks as a way to provide faster and cheaper transactions. Now he’s got ideas for “enshrining” some of those functions on the main chain.
The crypto exchange is still considering which blockchain developer should build its network, with Polygon, Matter Labs and the Nil Foundation in the mix, according to people familiar with the situation. Rival crypto exchange Coinbase blazed the trail with Base.
The network, which just went live a couple weeks ago as a so-called optimistic rollup – the core underpinning of OP Stack – will now become a “ZK-rollup,” which is what Polygon’s software kit provides.
The new Ethereum layer-2 network’s debut adds to the competition among rival providers of so-called “zkEVMs,” including Polygon and Matter Labs.
Celo, which is ditching its standalone blockchain in favor of a new “layer-2” network atop Ethereum, had originally signaled plans to rely on Optimism’s OP Stack, a similar customizable kit to Polygon’s but using Optimism’s “optimistic” technology.
With funding from the foundation that oversees development of the Metis layer-2 Ethereum protocol, ZKM is developing a hybrid approach that combines Optmistic and Zero-Knowledge rollups into one.
The new Ethereum scaling solution’s architecture will include a shared bridge and a “coordination layer” that connects all of Polygon’s chains, including an emphasis on zero-knowledge technology that has become one of this year’s hottest blockchain trends.