Ethereum Layer 2 rollup project Taiko has launched Katla, its final testnet, in preparation for the mainnet release expected by the end of Q1 2024. Katla introduces a new rollup design called the multi-proof based contestable rollup, which aims to enhance scalability and cost efficiency for decentralized applications. Taiko, being an Ethereum-equivalent ZK-EVM (Type-1), offers compatibility with the Ethereum mainnet. Taiko Labs CEO Daniel Wang expressed excitement about the testnet's potential to improve Ethereum's scalability and security. Unlike other Layer 2 rollups, Taiko relies on Ethereum validators for transaction sequencing, enhancing security and censorship resistance. Taiko Labs has previously raised $22 million in funding, with Sequoia China and Generative Ventures leading the rounds, and support from other investors such as IOSG Ventures, GSR, GGV Capital, and notable angel investors.

Ethereum Layer 2 rollup project Taiko has launched Katla — its final testnet before the expected mainnet, which is slated to go live by the end of the first quarter of 2024.Katla, the sixth Taiko testnet from Taiko developers, introduces a new rollup design known as the multi-proof based contestable rollup. This combines elements of both Optimistic and ZK-rollups — expected to benefit decentralized applications requiring high throughput and cost efficiency.In terms of its overall architecture and execution, Taiko is an Ethereum-equivalent ZK-EVM (Type-1), which has the same compatibility as the Ethereum mainnet.“We are excited to share this latest testnet with our community and partners, aiming to further enhance the scalability and security of the Ethereum network. Taiko is the first Layer 2 to test multiproof solutions in a public testnet,” said Daniel Wang, CEO of Taiko Labs.Unlike Layer 2 rollups with centralized sequencers, Taiko claims to rely on Ethereum validators to sequence transactions and blocks — to gain its security and censorship resistance.Taiko Labs, the team developing the Layer 2 network, raised $22 million across two rounds earlier. 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 the two rounds included IOSG Ventures, GSR, GGV Capital, and angel investors such as POAP founder Patricio Worthalter, Tim Beiko of the Ethereum Foundation, and Ethereum educator and investor Anthony Sassano.

Taiko Launches Final Testnet 'Katla' Ahead of Q1 2024 Mainnet Release