As a seasoned analyst with years of experience in the ever-evolving world of blockchain and cryptocurrencies, I find the story of Daniel Wang, co-founder of Taiko Labs, particularly captivating. His personal experiences during the Shanghai lockdown served as the catalyst for his groundbreaking work on Taiko – a decentralized, uncensored publishing network that aims to empower true freedom of speech.
During the peak of the COVID-19 outbreak, Shanghai – China’s main economic hub – was locked down for two months as a strategy to combat the virus. However, this lockdown served not only to prolong the fight against the virus but also to suppress any opposition towards China’s zero-COVID policies, which led to one of the instances often referred to as “based rollups” within the Ethereum community.
Daniel Wang, co-founder and CEO of Taiko Labs – a company that develops the Ethereum layer 2 rollup Taiko – shared with CryptoMoon during DevCon in Bangkok that he spent nearly three months confined to his apartment in Shanghai due to the COVID-19 lockdown, not stepping outside once.
He mentioned that he had thoughts he wished to express in China, but such expressions were prohibited. His initial thought was to construct a distributed network for publishing content instead.
There’s no restriction on publication. People can share whatever they want, keeping their real identities hidden, and the government has no control over it. It’s essentially an open, uncensored platform that can’t be halted.
As a crypto investor, I found the concept straightforward, yet it demanded a robust scaling solution – a challenge, as viable options back then, such as Optimism’s OP Stack and StarkWare, necessitated signature verifications, which Wang pointed out as problematic.
He mentioned that they could all be closed by someone, possibly not the Chinese government, but rather other administrations, if feasible and necessary.
According to Wang, a stronger technological foundation is needed to fully support free speech. Unfortunately, that’s not currently the case.
He then later came to make Taiko with fellow co-founder and operating chief Terence Lam.
Taiko operates as a sidechain, leveraging validators from the base layer such as Ethereum for processing tasks instead of relying on its own sequencing mechanisms. Unlike most sidechains, it bypasses the need for signature verifications.
In creating this roll-up solution, our goal was to eliminate any central sequence controller or centralized element, making it more of a ‘community-driven’ or ‘decentralized,'” he explained.
Wang stated that his aim for Taiko was primarily to prove its practicality, with the understanding that the popularity may not be the foremost concern; rather, it’s crucial to show that these decentralized rollup networks can outperform signature-based, centralized rollups.
He stated that he encourages others to use his code as a base, enhance it, and make it better. However, he requests that any advancements made are shared with him and his team.
As a researcher, I’m committed to scaling Ethereum effectively. Ideally, we’d see Taiko becoming a successful L2 solution, but even if it doesn’t, the insights and lessons gained from it will be invaluable for future rollup projects, ensuring their success.
“Let’s help each other,” Wang said. “Together, we are stronger.”
Additional reporting by Andrew Fenton.
Read More
- TRB PREDICTION. TRB cryptocurrency
- GBP EUR PREDICTION
- OKB PREDICTION. OKB cryptocurrency
- TNSR PREDICTION. TNSR cryptocurrency
- HBAR PREDICTION. HBAR cryptocurrency
- RLC PREDICTION. RLC cryptocurrency
- POL PREDICTION. POL cryptocurrency
- API3 PREDICTION. API3 cryptocurrency
- SEI PREDICTION. SEI cryptocurrency
- CNY RUB PREDICTION
2024-11-15 01:14