Saito

About Saito

{"time":1704989048000,"blocks":[{"data":{"level":6,"text":"Highlights"},"type":"header"},{"data":{"items":["Saito Introduces Saito Consensus, which is an alternative to Proof-of-Work and Proof-of-Stake.","It is unique because it can pay network operators for their contribution to routing transactions in the network while remaining open and without additional governance layers.","This fixes the primary impediments to scaling infrastructure in blockchains by making node operation profitable and paying nodes from consensus."],"style":"unordered"},"type":"list"},{"data":{"level":6,"text":"Product"},"type":"header"},{"data":{"level":1,"text":"Saito is a new Layer 1 Blockchain that resolves primary impediments to scaling infrastructure in blockchains."},"type":"header"},{"type":"paragraph","data":{"text":"It is an open network that runs cryptocurrency applications in browsers without plugins, private APIs, and non-open infrastructure.\r\nSaito pays nodes in the P2P network instead of miners or stakers and delivers a permissionless and scalable network that is capable of powering potentially decentralized versions of Amazon, Facebook, Twitter, and others without a need for monopoly in the network layer."}},{"data":{"level":6,"text":"Problem"},"type":"header"},{"data":{"level":1,"text":"Proof-of-Work and Proof-of-Stake networks rely on volunteer P2P networks to route the transactions to the block creators or close access to the network to allow node operators to charge for their services."},"type":"header"},{"type":"paragraph","data":{"text":"This both limits the scale of the network and undermines the openness of blockchain networks."}},{"data":{"level":6,"text":"Solution"},"type":"header"},{"data":{"level":1,"text":"Saito measures work contributed by cryptographically recording the path transactions travel from the user to the block."},"type":"header"},{"type":"paragraph","data":{"text":"This, in turn, allows the mechanism to measure the contribution of individual nodes to creating the block. In this way, nodes are rewarded for this contribution in a way that is Sybil resistant.\r\nBy paying nodes for their contribution, rather than giving money to miners or stakers, Saito can naturally scale, making it profitable to provide useful hardware to the network."}},{"data":{"level":6,"text":"Business Model"},"type":"header"},{"data":{"level":1,"text":"Saito has raised to pay for software and ecosystem development and intends to create a new mainnet blockchain implementation and a community around it that includes developers, users, and partners."},"type":"header"},{"data":{"level":6,"text":"Market"},"type":"header"},{"data":{"level":1,"text":"The main market of Saito is closed DPOS systems that pay for infrastructure with subsidies."},"type":"header"},{"data":{"level":6,"text":"Investors"},"type":"header"},{"data":{"level":1,"text":"Saito has raised $3.5 million through several rounds of financing."},"type":"header"},{"type":"paragraph","data":{"text":"Notable supporters include Candaq, In Blockchain, NGC, Signum, Delean, PAKA, Kernel Ventures, Tripara Ventures, Infinity Labs, Waterdrip, Angel One, OnePiece Capital, Hot Labs, Lotus Capital, PhoenixVC, A195 — Four Seasons, Master Ventures, Momtemum 6, and BlockSync.\r\n"}},{"type":"image","data":{"caption":null,"stretched":false,"url":"https://assets.polkastarter.com/1rzis2bysvv7z1bcazq0kih5xmzl","withBackground":false,"withBorder":false,"file":{"url":"https://assets.polkastarter.com/1rzis2bysvv7z1bcazq0kih5xmzl"}}},{"data":{"level":6,"text":"Team"},"type":"header"},{"data":{"items":["David Lancashire (Co-Founder of Saito)","Richard Parris (Co-Founder of Saito)","Shirley Shi (Marketing and Outreach Lead)","Clayton Rabenda (Software Engineering Director)"],"style":"unordered"},"type":"list"},{"data":{"level":6,"text":"Token Utility"},"type":"header"},{"data":{"level":1,"text":"The native cryptocurrency token $SAITO is used to pay tx fees such as gas on the Saito Network."},"type":"header"}],"version":"2.27.2"}