Was originally the point where the main water lines from the north of Istanbul were collected and branched off to other parts of the city (hence the name). This use for the area was established by Sultan Mahmud I.
The square takes its name from the stone reservoir which is located in this area. Additionally, the word "Taksim" can refer to a special improvisational musical form in Turkish classical music that is guided by the Makam system.
Taksim is a main transportation hub and a popular destination for both tourists and the native population of Istanbul.