Taiko Successfully Concludes 'Based Rollup Summit' at EthCC

Taiko (TAIKO), the first Based Rollup project in the Ethereum (ETH) ecosystem, announced on the 4th that it successfully concluded the 'Based Rollup Summit' during EthCC held in Cannes, France.

This year marks the second Based Rollup Summit, where various projects such as the Ethereum Foundation, StarkWare, Lido, and SSV Network gathered to discuss Based Rollup technology, real-world use cases, and future expansion roadmaps.

First, Joaquin Mendes, COO of Taiko, explained the importance of preconfirmations during his keynote speech. The preconfirmation feature is a technology that allows nodes registered on a whitelist to tentatively confirm transactions, thereby enhancing users' application interactions. COO Mendes stated, “Preconfirmations can reduce the block finality time in the Ethereum network,” and added, “This will improve the user experience.”

Daniel Wang, CEO of Taiko, added, “Taiko’s goal is to reduce block production time from 12 seconds to under 2 seconds,” and noted, “Based preconfirmations allow block times to be shortened while maintaining Ethereum’s decentralization.”

The Ethereum Foundation also agreed with the positive outlook on Based Rollups. Justin Drake, Ethereum Foundation researcher, said, "Ethereum has already exhausted all options for vertical scaling," adding, "Through horizontal scaling, we need to enable shared sequencers, rollup synthesis, cost-effective ZK proofs, and ultimately achieve internet-scale scalability."

Additionally, Taiko unveiled a new expansion model called 'Booster Rollup' at the event, emphasizing its plan to secure high compatibility with the Ethereum network.