$Taiko #TaikoProtocol #TaikoKatlaTestnet
What is Taiko? Information about TAIKO Token
Taiko is a Layer 2 project utilizing zkEVM technology. zkEVM combines Zero-Knowledge Proof (ZK) and Ethereum Virtual Machine (EVM), allowing developers to easily migrate decentralized applications (dApps) between the Taiko network and Ethereum.
The project aims to become a Type 1 zkEVM â fully compatible with Ethereum at the consensus level. These Type 1 zkEVM solutions retain Ethereumâs security characteristics but have slower transaction speeds compared to Type 2 and Type 3 zkEVM solutions.
$Notably, Taiko has been praised by Vitalik Buterin (Ethereum founder) as an âexcellent projectâ with EVM compatibility faster than ZKP â a cryptographic technology that verifies the authenticity of information without revealing the information itself.