Taiko and OpenZeppelin Partner to Develop Next-Generation Based Rollup Stack

The first based rollup and the world leader in blockchain security to advance the modular thesis

NEW YORK and LONDON and SINGAPORE, Jan. 24, 2025 /PRNewswire/ -- Taiko, the first ever based rollup, and OpenZeppelin, the world leader in securing blockchain applications and smart contracts, announce a strategic partnership to design and create the next generation of the based rollup stack.

The announcement, made during the Sequencing and Preconfirmations Call #17, marks a significant milestone in Ethereum's rollup-centric roadmap and underscores the necessity of both decentralization and security in the further development of the Ethereum ecosystem.

The collaboration will focus on creating a credible stack that can serve Taiko mainnet, other rollups, and appchains that believe the future of scaling is based.

Combining Taiko's pioneering work in based rollups and OpenZeppelin's proven track record of securing over $20 trillion in total value transferred via their contracts, the partnership aims to support this new standard for rollups.

"Security is central to our efforts to build a truly decentralized future for rollups. Our work with OpenZepplin ensures the development of a fully permissionless and secure standard that will support our growing ecosystem. Taiko is committed to advancing a based future where decentralization and security go hand in hand," said Daniel Wang, CEO and Co-Founder of Taiko.

From their joint research, the teams identified several key innovations in addressing scalability, interoperability, and composability. Fundamentally, the implementation of preconfirmation-enabled systems is a crucial next step in improving rollup performance.

Other key improvements include:

• Development of a maximally simple on-chain protocol
• Enhanced L1 read composability for smart contracts
• Advanced L1↔L2 and L2↔L2 interoperability
• Data compression and blob sharing infrastructure to reduce costs of posting to the L1
• Innovative proof aggregation

"We're excited to collaborate with Taiko to design and develop a next-generation Based Rollup Stack that prioritizes simplicity, security, and scalability. By pushing complexity off-chain and leveraging preconfirmations, we can create a more efficient and secure framework that enables projects to unlock the full potential of the based rollup ecosystem, ultimately benefiting the entire Ethereum community," said Demian Brener, CEO and Founder of OpenZeppelin.

Leveraging OpenZeppelin's significant market presence, with approximately 44% market share of all transactions across the major EVM chains (30% on Ethereum mainnet), and $145B+ TVL on Ethereum mainnet using OpenZeppelin Contracts, key development areas include:

• Based Governance for easy stage 1 rollup launch
• Credible neutral sequencer implementation with preconfirmations
• Enhanced base fee algorithms for variable block times
• Cross-chain messaging

The development will begin with a collaborative design phase in Q1 2025, followed by protocol development and comprehensive security audits. These efforts demonstrate both teams' commitment to advancing the modular thesis while maintaining the highest security standards.

About Taiko

Taiko, the first based Ethereum rollup, is designed to address the scalability challenges of the Ethereum network. By utilizing Based Contestable Rollup (BCR) technology, Taiko significantly reduces transaction costs and enhances security, providing a seamless and efficient user experience without compromising decentralization.

For more information about Taiko and its revolutionary approach to Ethereum scaling, visit https://taiko.xyz/ 

About OpenZeppelin

Founded in 2015, OpenZeppelin is the world leader in securing blockchain applications and smart contracts. Its bedrock open source Contract Libraries are a public good and industry standard for smart contract development. OpenZeppelin's professional expertise, unified with the Defender developer security platform, integrates through clients' development lifecycles, so teams can plan, code, audit, deploy and operate projects faster and more safely.

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SOURCE Taiko