Taiko Secures $37M To Develop Web3 Infrastructure For A Censorship-Free Internet

Taiko, a startup focused on building web3 infrastructure, has successfully raised $37 million in funding to support its mission of creating a censorship-free internet. The company’s efforts are aimed at decentralizing various aspects of human activities, with a particular focus on social platforms and content moderation.

Founder’s Vision for Decentralization

Daniel Wang, the founder of Taiko, is a strong advocate for the potential of blockchain technology to enable freedom of expression and resist censorship. He envisions a future where individuals can freely express themselves on the internet without fear of restrictions or limitations. Wang’s commitment to decentralization led him to identify the need for a truly decentralized infrastructure for social applications, ultimately leading to the establishment of Taiko in March 2022.

Challenges in Decentralized Social Apps

Wang highlights the challenges facing decentralized social apps, particularly in ensuring content quality, safety, and user incentives. While decentralized networks offer ownership and control over content, they also face the risk of hosting low-quality or offensive content without proper curation. To address this, Wang suggests the implementation of an intermediary layer, or “relayer,” to filter and present content that aligns with the values of the decentralized social network.

Investment and Future Plans

Taiko’s recent funding rounds, including a $15 million Series A round led by Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital, reflect the growing interest in web3 infrastructure and decentralized applications. The company plans to allocate the funds towards preparing for its mainnet launch and supporting developers through grants. With its latest testnet attracting significant user activity, Taiko aims to establish itself as a public good, akin to Ethereum’s decentralized network.