Taiko, Ethereum Layer 2 rollup project, launches Katla, its final testnet. ahead of the mainnet launch expected by the end of Q1 2024.
Katla will be the sixth Taiko testnet, with Taiko developers introducing a new design rollup called Katla. multi-proof based contestable rollup It combines elements of both Optimistic and ZK-rollups, which are expected to benefit decentralized applications that require high throughput and cost efficiency.
In terms of architecture and execution, Taiko is ZK-EVM (Type-1) equivalent to Ethereum with the same compatibility as Ethereum mainnet.
“We are excited to launch the final testnet with our community and partners. Aiming to increase the scalability and security of the Ethereum network, Taiko is the first Layer 2 to test a multiproof solution in a public testnet,” said Daniel Wang, CEO of Taiko Labs.
Taiko Labs, a Layer 2 network development team, has raised $22 million in two previous rounds. The first was a $10 million seed round led by Sequoia China in 2022, and the second was a $12 million pre-Series A round led by Generative Ventures in 2023.
Other investors in both rounds include IOSG Ventures, GSR, GGV Capital, and angel investors such as POAP founder Patricio Worthalter, Ethereum Foundation’s Tim Beiko, and Ethereum investor Anthony Sassano.
refer : theblock.co
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