Taiko Protocol Spends $900,000 on Blob for Ethereum Transactions

Bittime - Taiko Protocol spent $900,000 on Blob during the first two weeks of its launch as part of an Ethereum upgrade that allows for cheaper transactions, said Daniel Wang, CEO of Taiko Labs. For more details, see the following article!

Taiko Protocol Spends $900,000 on Blob

Taiko, which launched at the end of last May and aims to provide users with cheaper and faster transactions than the Ethereum mainnet, has generated $900,000 for Blob in less than two weeks since its launch, according to Odaily. By purchasing a Blob, Taiko can transfer user transactions to the Ethereum network.

Blob Part of Ethereum Upgrade

As part of Ethereum's upgrade, Blob, a new resource for the L2 network was released in March. This allows publishing Ethereum transactions at low fees, whereas Taiko competitors, such as Optimism, spend less than $1,000 per day on Blob.

Taiko Labs CEO Announces New Taiko Mainnet Release

Daniel Wang, CEO of Taiko Labs, said that this protocol uses more Blobs than other L2 protocols because this is a design choice, not a bug. He also said that Taiko has just launched its mainnet and many issues need to be resolved before it stabilizes.

Conclusion

Taiko Protocol, which was released in late May, has generated $900,000 for Blob in just two weeks. Daniel Wang, CEO of Taiko Labs, said that Taiko Labs' use of larger Blobs was a design choice, not a bug. While its competitors, such as Optimism, pay less than $1,000 per day for Blob, Blob, part of an Ethereum upgrade released in March, allows low-cost publication of transactions on the Layer 2 (L2) network.

Even though the Taiko mainnet has just launched, there are some stability issues that need to be resolved. Taiko's goal is to provide cheaper and faster transactions compared to the Ethereum mainnet. To remain competitive in the L2 market going forward, Taiko must balance operational costs and performance improvements.

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