Skyland Ventures Invests in Taiko, an Ethereum Second Tier Network Based on zkRollup

04/14/2023 03:48 • Blockchain Buzz • 134 views

On April 14th, according to the official blog, Skyland Ventures, a Japanese cryptocurrency fund, announced its participation in the financing of Taiko, an Ethereum second tier network based on zkRollup, but did not disclose the investment amount.

Crypto Fund Skyland Ventures Announces Participation in the Financing of the Ethereum Layer 2 Network Taiko

In the world of blockchain technology, Ethereum is one of the most popular platforms that offer smart contract capabilities to developers. However, the platform has its limitations when it comes to scalability and transaction speed. To solve this problem, various second-tier networks have emerged on the market, and Taiko is one of them. In this article, we will discuss Taiko, its features and advantages, and how Skyland Ventures has invested in it.

Introduction to Taiko

Taiko is a second-tier network that is built on top of Ethereum’s mainnet. It uses the zkRollup technology to achieve scalability and faster transaction speeds. In a nutshell, zkRollup is a solution that bundles multiple transactions into a single batch and then verifies them through a single proof. This significantly reduces the computational requirements and enables faster processing of transactions.
Taiko is the first network of its kind that is based on zkRollup technology. It allows users to send and receive ERC-20 tokens without having to pay high transaction fees or wait for a long time for the transaction to be confirmed. Taiko claims to have a throughput of up to 2000 transactions per second, which is much higher than Ethereum’s current capacity.

Skyland Ventures Invests in Taiko

On April 14th, Skyland Ventures, a Japanese cryptocurrency fund, announced that it has invested in Taiko. However, the exact amount of investment was not disclosed. This news is significant because it shows that investors are recognizing the potential of second-tier networks like Taiko.
Skyland Ventures is known for its investments in blockchain and cryptocurrency-related projects. The fact that they have invested in Taiko shows that they believe in the technology and the team behind the project. This investment will help Taiko to further develop its platform and achieve its goal of becoming a scalable and efficient second-tier network.

Advantages of Taiko

Taiko offers several advantages over Ethereum’s mainnet. Firstly, it allows for faster transaction processing, which means that users can send and receive tokens without having to wait for a long time. This is especially useful for applications that require high transaction throughput, such as decentralized exchanges or gaming platforms.
Secondly, Taiko is much more cost-effective than Ethereum’s mainnet. Users do not have to pay high transaction fees, which can be a significant barrier to entry for some users. Taiko’s low fees make it accessible to a wider range of users and applications.
Finally, Taiko is fully compatible with Ethereum’s ecosystem. This means that developers can use existing tools and libraries to build applications on top of Taiko without having to make significant changes to their code. This makes the transition from Ethereum’s mainnet to Taiko much smoother and less disruptive.

Conclusion

In conclusion, Taiko is an exciting project that has the potential to significantly improve the scalability and efficiency of Ethereum’s ecosystem. Its use of zkRollup technology allows for faster transaction processing and lower fees, which are significant improvements over Ethereum’s mainnet. Skyland Ventures’ investment in Taiko shows that there is growing interest in second-tier networks, and we can expect to see more developments in this space in the coming years.

FAQs

Q: What is Taiko?
A: Taiko is a second-tier network that is built on top of Ethereum’s mainnet. It uses the zkRollup technology to achieve scalability and faster transaction speeds.
Q: What are the advantages of Taiko?
A: Taiko offers faster transaction processing, lower fees, and full compatibility with Ethereum’s ecosystem.
Q: Who has invested in Taiko?
A: Skyland Ventures, a Japanese cryptocurrency fund, has invested in Taiko.

This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/14612.htm

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.