L2 Taiko goes live on the Ethereum Mainnet

Layer-2 (L2) project Tyco has officially deployed its protocol on the Ethereum (ETH) mainnet, reaching a milestone after two years of work.

The Tyco protocol uses the Based Contestable Rollup (BCR) architecture. It promises to increase Ethereum's scalability and security while maintaining its decentralized structure.

Vitalik Buterin presented the first block when Tyco deployed on Ethereum

Vitalik Buterin, the founder of Ethereum, highlighted the importance of this initiative and presented the opening block. He expressed his excitement about Taiko's unique approach of integrating different authentication systems to strengthen the network's strength.

“I'm excited to see the launch of Taiko based roll. Ethereum L2s will benefit from taking many different approaches, and I applaud them for being among the first to move in this direction,” Buterin said on Block Debadata.

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Tyco's launch introduces a number of opportunities for users and developers to connect with the new network. Regular users can connect ETH to Taiko using the official bridge and explore decentralized applications (dApps) for functions such as exchange, lending and negotiation. Although there are quota controls to return to Ethereum, these limits will gradually be lifted.

Developers can also participate in running nodes, submitting proposals, and verifying blocks—which are essential to maintaining the security and functionality of the network. The Tyco Group will initially manage these processes to ensure stability, but will soon open them up to the wider community. Additionally, developers can build and deploy smart contracts on Taiko, which are supported by comprehensive documentation.

The group also plans to launch a DAO and transfer control of the protocol to token holders within the year. TKO, Tyco's native token, will begin its mainnet deployment in a few weeks. Tycho holds an air droplet to distribute the token.

Some user categories eligible for Weather include Proposer, Proposer, Developer, and Bridge. GitHub and Loopring community members who meet the prerequisites can verify their eligibility for the airdrop.

Tyco is a fully open source, license-free ZK-Rollup equivalent to Ethereum. The goal is to provide an Ethereum-like experience that operates entirely on community-driven mechanisms without the involvement of central parties.

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This technological breakthrough and user-centered approach has received significant funding. In early March, Tyco announced that it had completed a $15 million Series A funding round.

Lightspeed Faction, Hashed, Generative Ventures and Token Bay Capital led the round. This latest round brings Taiko's total raised capital in three rounds to $37 million.