OKX Ventures, the investment arm of OKX, has announced its Series A investment in Taiko, a decentralized, Ethereum-equivalent ZK-Rollup that aims to scale Ethereum and enable a more inclusive Web3 ecosystem.

Taiko is a Layer 2 solution that leverages zero-knowledge proofs (ZKPs) to achieve high scalability, low latency, and low fees, while preserving the security and compatibility of Ethereum Layer 1. Taiko claims to be the first ZK-Rollup that supports full EVM (Ethereum Virtual Machine) compatibility, allowing developers to deploy any existing Ethereum DApps without any code changes.

Taiko has been developing its technology since 2022, and has conducted six successful testnets with over 1.1 million unique wallets, 30,000+ proposers, and 14,000+ provers. Taiko also boasts a vibrant community of over 850,000 members on Discord, and supports over 100 live apps on its network, including DeFi, NFT, gaming, and social platforms.

OKX Ventures Founder Dora Yue expressed her excitement about the investment, saying: “We are thrilled to participate in Taiko’s Series A funding round, the ZK-Rollup-based Ethereum Layer 2 network. We have participated in two of Taiko’s funding rounds so far and applaud its growth over the past year. Taiko has consistently pursued its initial goal of building a fully decentralized network.

It has decentralized sequencers and validators that allow developers to leverage the power of Ethereum Layer 1 without altering existing DApps deployed to Taiko. The mainnet is expected to launch in the first half of 2024, marking the next milestone and ushering in a new phase of growth.”

OKX Ventures is the investment arm of OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company.

OKX Ventures has an initial capital commitment of USD 100 million, and focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value. OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.

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