Highlights begin here.

1. Who are your competitors in crypto and what’s the strategy to outperform them?

We still have a unique approach – Saito consensus is not implemented anywhere else, so in that sense we don’t have direct competitors.

There are quite a few competitors in the ‘ideas space’ around scale. Polkadot, for instance, solves scaling issues for the relay chain, but passes on all other issues to parachains, while groups like Solana and before them EOS juiced up speeds by centralizing validation.

Other sharding solutions split up the problem to push it further down the road, but lose fundamental properties like ‘universal broadcast’ – being able to send a message to anyone on the network without any help or dependence on anyone else.

2. How important is the community for Saito team and what steps will be taken by team to keep interest of community & investors intact?

Our community is everything. Saito is like bitcoin or ethereum, and is nothing without a community.

The community is amazing – you just have to look at how the saito ‘red card army’ on twitter supports everything we do/announce.

More than that – the community is doing a _lot_ creating docs, making NFTs, promoting Saito… This is maybe the most amazing achievement of the project and something we will keep supporting as best we can.

3. As Saito is a layer One Blockchain, what is the Problems with other Blockchains? Why do You think users will need another Blockchain?

As mentioned above – Proof of Work and Proof of Stake pay _only_ for the security mechanism. To avoid web 3 collapsing back into being just like web 2 we need to pay for everything the network needs from consensus. If it is not, it is subject to ‘capture’ by anyone with power or an advantage in the system.

By rethinking what consensus pays for, and making that robust, Saito can provide infrastructure, pay devs and service users at scale – without closing off access or becoming corporate owned.

4. With many Blockchains, we have seen the issue of 51 % Attack, how do you plan to solve that? Can You give us an overview?

We love this question, obviously.  51% attacks feel like they might be inevitable in blockchain, like maybe natural something like democracy.

There are actually two reasons that PoW and PoS suffer 51% attacks. First, all the work/stake that does not ‘get used’ each block, just vanishes for the next block. The second is that the block creator gets paid for creating the block, and so can use this reward to ‘go again’ with their attack on the next block.

In Saito nodes need to collect user fees attached to transactions to make a block. When a block is made, the fees attached to other transactions, not put in the block, these are still valid ‘work’. AND, when a block is produced, one of the nodes that contributed to putting transactions into the block gets paid. Not the block creator. 

Together this means, that when a node creates a block, other nodes are already have some transactions and fees for the next block so the attacker is behind the honest nodes, and, most importantly we didn’t just pay the attacker to keep attacking the network.

This is maybe in the weeds, happy to talk more about this separately for anyone interested.

5. Please tell me some significant advantages of your platform over PoS and PoW, and how it can strengthen the security for users? What improvements or acknowledgements have you gained so far?

Along with all of the above – the biggest advantage is that Saito can actually be very simple, as it’s solution is not smart contracts, sharding, zk snarks or other ‘heavy tech’. 

Very early on – we got a javascript version pushing two 300mb blocks per minute across the pacific and staying in sync. 

Since then Saito networks have supported millions of transactions, and we have created exciting software on top of the network that gets people coming back.

6. One of the common misconceptions about Saito I see is that newcomers think it’s a “Polkadot project” or “Polkadot token.” Can you explain what kind of role or roles that Saito would like to play in the Polkadot ecosystem?

This is a common misconception because we have worked closely with the web 3 foundation and have many partnerships and friends in the polkadot ecosystem.

We have received and completed a web 3 foundation grant, for example. 

In the end, Saito can be a massive part of the polkadot ecosystem, providing infrastructure to great projects that don’t have infrua to support them for free.

7. I Read in your Website that currently you are working on a Rust Implementation of Saito Consensus that will form the backbone of our next testnet(s). Will you Please tell me More about Saito Rust Implementation ?

The Rust client and Rust consensus are steps to making Saito ‘data center ready’. As the network grows and throughput increases, we would need to move to things like binary blocks (rather than json). 

At the same time – we have been refining and improving how we implement Saito Consensus in code with each update and refactoring of the code.

The Rust client represents our most efficient and robust implementation of Saito Consensus yet.

Changes like moving to binary for all network communications, and the extra strictness of Rust cause some issues for the rest of the stack, like games. We are working through those now, as well as settling our more detailed tech roadmap for the year.

8. What’s your vision ultimately? What is the project trying to achieve in the longer term? 

To deliver the promise of Web 3.

People talk a lot about decentralization and often assume that a decentralized network will be open and user owned. This is, sadly, not true. There are many decentralized networks that are not open at all, and where users are mere customers – or worse they are the product.

Users are freer and have more power if they use keys they control to access systems and interact. Similarly tokenisation allows for users to share value autonomously and without permission.

But this is not Web 3 by itself. If we look at the best examples we have currently they are subsidised by volunteers and companies. For example, Uniswap simply does not work without support from Infura and their servers.

Volunteers don’t scale. At some point they will not support paying for a large scale network. Which leaves companies. With scale, costs will increase, and over time we will see Web 2 business models creeping in. 

If we want a Web 3 that stays open at scale, we must solve issues of paying for the underlying network from consensus. This is what Saito does.

9. How do you deal with pump and dump investors who just buy and sell regardless of the technology behind it? In other words: how do you plan to gain the trust of all kinds of investors?

The answer to this is to get on with building a community and a track record. 

We have an amazing community that understands and supports Saito, our goals, and objectives. This buffers and protects the projects against the ups and downs of industry trends and markets.

When that is tied to a track record of building real code, and being honest and open about what we are doing – it becomes clear that there are much better ways to be involved with the project than making small profits day trading a token.

10. What’s your next move to expand your project & where did you see yourself at the end of year 2022 ?

We have recently published a detailed roadmap covering 2022 and beyond. 

Technically we are working on our rust ‘data center ready’ client, working on tools to let developers easily integrate third party cryptocurrencies into Saito and Developers tools to make it easy to build apps for Saito.

In terms of growth, that is driven by two main things – community and collaborations. The Saito community is amazing and is spreading the word about Saito globally. It is growing in size but also commitment and passion, which makes us super happy. We are brining on community management 

Integrating other cryptos into Saito – in a way similar to the way polkadot tokens are already integrated into Saito applications will allow us to engage on a deep level with projects throughout the industry and simply demonstrate the power and value of what Saito brings to them.

On top of this we will continue to communicate as much as we can about what we are doing. We are really pumped about 2022.

For more updates, please do follow Saito’s official social media pages:
Twitter: https://twitter.com/SaitoOfficial
Telegram: https://t.me/SaitoIOann
Blog: https://org.saito.tech/blog
Discord: https://discord.com/invite/HjTFh9Tfec
Reddit: https://www.reddit.com/r/SaitoIO/
Youtube: https://www.youtube.com/channel/UCRUhZVAUH4JyWUFmxm5P6dQ

The post Saito AMA Highlights appeared first on Saito.

Liquidity Provider rewards available to the community are now over 35% APR.

It’s been a week since we launched the program. Participants can join the program by providing liquidity into the SAITO/BUSD pool on PancakeSwap. The project will guarantee minimum liquidity but leave space for the community to maximise returns to community liquidity providers.

We are super proud of how strong and engaged our community can be and happy to see that Saito holders and supporters are earning benefits from the trading activity. It is also fantastic that supporters with smaller budgets can purchase with significantly reduced fees. 

We would like to encourage our community members to stake their SAITO/BUSD tokens to improve the network metrics while simultaneously earning profits from the pool.

Token holders may provide liquidity to SAITO/BUSD pair in equal proportion on PancakeSwap here: https://pancakeswap.finance/info/pool/0xc595bea9ba58d0cada5fa287dda4f30517c3e1a4

Please make use of the following contract addresses BEP20 SAITO: 0x3c6dad0475d3a1696b359dc04c99fd401be134da

As always PancakeSwap is a DEX and users should ensure they understand fully what they are doing before committing any funds.

The post Over 10mil SAITO Wrapped on BSC appeared first on Saito.

Polkadot support has been added to Blackjack. And all games can now take advantage of standardised methods to interact with game engine components and UI. 

The Game Test Suite is a developer tool to allow developers to quickly explore the functionality (UI and under the hood) of the game engine and components, and rapidly design games. The development team has already optimized the user interface and developed user-visible buttons to better indicate functionality.

Saito co-founder Richard Parris noted “We are super happy to have had this milestone accepted. Working with the web3 foundation and Polkadot community has been really rewarding. We are working to take these innovations in the Polkadot space to the next level in the coming months.”

As announced in Saito’s recent Roadmap Update Polkadot support leads the way to integrating many more cryptocurrencies and ecosystems. This is an integral part of our Saito vision, and how we take Web 3 to the world.

The post Web 3 Grant: Saito Polkadot Arcade Milestone 2 Accepted appeared first on Saito.

Saito Network has one of the strongest and most engaged communities in the crypto space. This is a great way to hold and share SAITO and to spread the word. Don’t just talk about Saito – share some today.” said Richard Parris, Saito Network Co-Founder.

Saito and iME will continue to explore opportunities for collaboration. As a first step we are really excited to be able to offer this convenience to our community. 

About iMe

iMe is an entire ecosystem with the Telegram-based messenger, Crypto Wallet, and DeFi tools, and its native utility token $LIME. With robust DeFi capabilities integrated into the messenger (Uniswap, Binance Smart Chain, Ethereum), iMe is on a mission to make DeFi more accessible to a wider population. The platform enables sending any crypto via Telegram handles in a few clicks. iMe is the first one to add Binance Pay functionality into the wallet. Now it’s available in the iMe app for Android and iOS users.

The post Saito Partners with iME to Allow Users to Transfer $SAITO to Their Telegram Contacts appeared first on Saito.

We are very pleased to share that the AMA was a huge success, and Richard got to answer many awesome questions. To those who missed the AMA and to those interested to learn something about Saito, stay tuned as we curate his answers in this AMA recap.

Transcript begins here.

Q1: What are you hoping to get out of the partnership – why does it matter to Saito?

When you start a project like Saito, all you want is that someone notices, and pays attention. When you start to build a community, it means everything to the project. I am really excited about the partnership for two reasons.

One is to join our communities together; to introduce the Saitozens to what is happening on Sifchain, and to meet all the folks here and let them know what we are doing. 

The other is pragmatic. When I got into bitcoin (2013), exchanges were just starting to take over and dominate the space. And we took it for granted that companies like Huobi and Bitfinex and Okex would dominate the space. Some of us were into Bitcoin as money, and others were more excited by the idea of web 3.0./ That was the real draw for me.

No matter what you were interested in, you were stuck with exchanges and centralized infrastructure for most things though. Now we have real innovation going on creating decentralized (and affordable) ways to transact and share monetary and other value.

Glad to be bringing more options to our community.

Q2: Can you tell us a little about Saito – you are a web 3.0 project?

Like I said before, when Bitcoin came along, it was cool to have independent internet money, but what struck a lot of us was how amazing it was to have an independent network, one that could pay for itself. That, really, was the birth of the ideas people call ‘Web 3.0’… a user-owned and independent web. Problem was that was, that Bitcoin barely scales, and it was pretty clear within the Bitcoin community that this was an issue.

The first ideas for Saito were formed during the ‘blocksize war’ when the bitcoin community was splintering and Ethereum was new on the scene. David, my co-founder, had a unique take, and asked a question most people ignored: .’If we can scale technically, web 3.0 still involves huge numbers of servers in data centers, who is going to pay for that…?’’ 

Proof of Work and Proof of Stake pay only for mining or staking. Both rely on volunteers to run the actual network. Individuals for BTC and Infura for ETH, as examples. Saito is a different kind of blockchain – a network, not a distributed ledger – that solves this problem. Saito pays routing network nodes for their work, not miners or stakes. So it scales economically. This is important for web 3.0 as it lets us keep everything independent.

We have a live network that demonstrates how this comes together at satio.io/dotarcade,  where you can use Polkadot tokens on the Saito Arcade.

Q3: What are you most excited about at the moment?

A few things. We did an IDO earlier this year, it was a real wake-up to just how much is happening in the industry. As a project using decentralized tools like Uniswap, and not Sifchain rather than exchanges etc. is, for me, part of the Web 3.0 vision coming true. We are starting to see real services, things people can use to live, interact, run businesses etc. emerge. Combining these tools with some of the more boring uses for NTFs – like certificates of ownership, or status etc…

These come together to give us the toolkit to build the real-world applications and services people need… and want from Web 3.0. Saito being part of this is super exciting for me. Again, building the dot arcade stuff and seeing how we can support other projects to ‘stay open and stay Web 3.0’ is really motivating for me. So, really excited by the maturing of the industry and the variety of projects and ideas out there.

Q4: What are people building on Saito? How does that work without smart contracts?

Saito is quite different from what most people in this space are used to.

It is simplest to understand Saito as a network – not a database, or information store.

Users on Saito are identified with keys they create and own, and applications they use can use these to establish on and off-chain encrypted communication. The important thing is ‘universal broadcast’ and having enough space in transactions to send real data.

The first of these is an essential feature of Bitcoin and all real blockchains.

You can send a message (usually money) to anyone on the network without permission, you just send it to their key. If you can do that, and your message can have enough information in it – you can perform a key swap (technically a Diffie Hellmann key exchange) with anyone on the network and no one can stop you. This is a critical part of Web 3.0 – the basis of the independence you can bake in, so the businesses, no matter their model or techniques cannot lock users in. None of this requires smart contracts, and, in fact, would not scale if they were introduced. You can get more detail on how Saito works at saito.io so won’t go further into the weeds.

Q5: Tell us a bit about your roadmap and what is coming up for Saito? Any sneak previews?

There are a few key areas we are working on. First is the ‘data-center ready’ client. An update and battle-ready version of the node software. At the same time, we are continuing the work we did to create the dot arcade to extend our ability to support other cryptos and NFTs simply and easily in Saito apps. 

We are also really dedicated to growing and serving our community. Our partnership with Sifchain is part of that, and we plan to keep up this work, picking up development partners and growing our base.

We also don’t take our eye off the everyday things, like growing our team, and the people contributing to the ecosystem.

Open Questions

Q1: If a crypto newbie came and asked you “What does Saito do?” how would you answer in simple terms? Also, do you think the problem Saito is trying to fix hasn’t really started appearing?

Saito is a high capacity data network that pays for itself.

Is the quickest answer.

The cool bit of the question is actually part two, as, they totally have.

Some examples:

– The Bitcoin scaling debate and people arguing about the size of blocks.

– Miners in the PoW space hoarding and selling transactions to make money.

– DPoS systems close off openness in networks to allow closed groups to distribute profits to themselves.

– DAGs and other structures losing important features like universal broadcast in the name of scaling.

– 80+% of ETH transactions being gate kept by Infura…

These are all things that Saito predicted – and they are all things that undermine Web 3.0 from working.

Q2:Could you tell us about your Saito arcade, is it some kind of game?

There are a bunch of games available on the arcade.

We initially built them to show off what the network can do. The interactions in games can be super, super complex, often more complex than in business applications etc.

So, – if you can build a game like Twilight Struggle, you can build just about anything.

I wanna test it, it seems like a trend for the blockchain games.

Q3: Please tell us more about use cases on your chain, it seems the most important thing for network

A great example to understand the kind of thing that Saito can do is:

Imagine you have an IOT security camera you set up to watch your house or family.

Anything like that, – now, – requires a third-party company you just have to trust won’t look into your stream. With Saito you can very simply set a wallet on the camera and on your phone. To connect – the phone just sends the camera an on-chain message, with its location on the open Internet and its part of a key swap.

The Camera sends back info about where it is, and it’s half of the key swap.

The Camera can now encrypt a stream – off-chain – and send it directly to the phone.

No need to trust that some dodgy admin at the company will watch the feed, no need to trust that the company will keep operating and not brick your hardware when they turn off their servers. It’s this kind of thing that we will need to make web 3.0 work.

For more updates, please do follow Saito’s official social media pages:
Twitter: https://twitter.com/SaitoOfficial
Telegram: https://t.me/SaitoIOann
Blog: https://org.saito.tech/blog
Discord: https://discord.com/invite/HjTFh9Tfec
Reddit: https://www.reddit.com/r/SaitoIO/
Youtube: https://www.youtube.com/channel/UCRUhZVAUH4JyWUFmxm5P6dQ

The post Saito X Sifchain AMA Recap appeared first on Saito.

The event aims to gather ecosystem projects who are actively building Web 3.0 to discuss progress and the future of Web 3.0. The event will also be a forum for Web 3.0 projects and communities to showcase their work. Leading thinkers and builders will share practical experiences of building Web 3.0, talking about how to use technology to create trustless systems for universal participation, sustainable business models, and rethink relationships between developers, users, and money in the token economy. 

Participants attending this event will learn where Web 3.0 is, the challenges it faces, and about its potential to change the future. Attendees will see practical products by well-known projects, connect with industry experts.

Saito co-founder David Lancashire said, the industry is developing very fast so we are holding this event to bring leading projects here to share their expertise and insights with users. 

The event features a diverse lineup of the projects including  Polygon, Neo, Phala, Polkastarter and more. Don’t miss Saito co-founder’s thought provoking presentation: Openness Not Decentralization! to get you rethinking what you thought you knew about Web 3.0. 

Don’t miss out! Register Now!

The post Saito Network To Host Building Web 3.0 Online Event appeared first on Saito.

David presented to a panel arguing that It’s Openness Not Decentralization That Matters in Blockchain. The Saito co-founder argues that the properties that people believe come from decentralization actually stem from openness – the inability to exclude people from the chain.  He continued that openness is not free; we need to pay for open data flows that support it and allow free competition in the network. In the original design, bitcoin, volunteers took care of this work but as these networks scale the responsibility for doing that needs to shift to for-profit firms in the private sector and as it turns out economics has a ton to say about the massive problems that computer scientists are running into doing this. This is what’s happening with the peer to peer network right now. In every scalable blockchain miners and stakers do not want to run the network. They are letting their responsibility for that be handled by other people. This is the Ethereum network where everybody is free riding on Infura.

There are three kinds of solutions in the blockchain industry. The first is the emergence of networks that return to volunteer provision and these networks can be open. Anybody can join but they cannot scale beyond the point that volunteers will provide infrastructure. The second solution is we can invite the free market to pay. But, the private sector will create barriers to data sharing to create opportunities to profit. So we will end up with these scalable networks that are permissioned networks that are dominated by monopolies in the network layer that’s what we’re seeing with Infura.

Saito replaces mining and staking with a form of work where we can route work which adds cryptographic signatures to the network layer and it basically pays people for the work that they do efficiently collecting money for the network. So it’s a non-extractive form of work otherwise the network has the same properties as POW and POS.

The post Saito Co-founder David Says Openness & Self-sufficiency Matter in Blockchain at Blockchain Research Roundtable Event appeared first on Saito.

Benefits

• Exclusive Access – You will be invited to special events, AMAs, Town Halls, and other awesome events & activities with other ambassadors and core members

• Ambassador’s Bounty – 100 USDT basic rewards + 100 USDT performance rewards per month; these bounties will be distributed on the 10th of each month.

• Epic Community – You will be a part of an awesome community and team who shares the same vision and commitment to deliver a better future for everyone

Responsibilities

1. Promote Saito Network events & activities in different social media channels (wherever applicable).

2. Be proactive in entertaining, interacting, and creating knowledge-filled conversations in the community.

3. Educate the public and community about what Saito Network is all about – Brand awareness ( what it does, what it solves, how it’s different, etc).

4. Promote all Saito Network official social media channels (wherever applicable).

Ambassadors assessment

Everyone is welcome to be a part of the Saito Network community, but it requires dedication and hard work to become an Ambassador. 

1. After submitting the application form, we will reach out to have a small chat regarding the responsibilities and expectations.

2. Please bear in mind that once approved, the applicant has to go through a testing phase to get to know the community, meet the team, learn what Saito Network is all about, familiarize responsibilities, tasks, and set goals.

3. After the testing phase, Saito team will evaluate the performance of the applicant to assess whether he/she is fit for the role.

4. Once the Saito team makes a vote, only then the applicant becomes an official Saito Network Ambassador.

About Saito Network

The Saito Network is a layer one blockchain that pays nodes in the P2P network instead of miners or stakers, delivering a permissionless and scalable network capable of powering decentralized versions of Twitter, Facebook and Amazon without the need for predatory monopolies in the network layer.

For more updates, please do follow Saito’s official social media pages:
Twitter: https://twitter.com/SaitoOfficial
Telegram: https://t.me/SaitoIOann
Blog: https://org.saito.tech/blog
Discord: https://discord.com/invite/HjTFh9Tfec
Reddit: https://www.reddit.com/r/SaitoIO/
Youtube: https://www.youtube.com/channel/UCRUhZVAUH4JyWUFmxm5P6dQ

The post Saito Network Ambassador Recruitment Program appeared first on Saito.

Q1: Can you introduce yourself to our community?

David: Sure. I’m David Lancashire, co-founder of Saito. Background is in economics and tech. I worked in China for a long time as a tech entrepreneur. My co-founder and I both got into crypto in 2012-2013 in Beijing and went through the battles of the blocksize debate in 2015-2016. Saito is borne out of that period of time.

In 2017 we figured out how to solve a problem that — except for Saito — remains otherwise unsolved in blockchain. This is what I’m hoping we can talk about today. It’s how to keep a network like Bitcoin secure while also paying the nodes in the P2P network.

I immediately shut down my company to work on Saito full-time. Once people understand the solution they realize why. Richard my co-founder did the same several months later. We’ve been working and growing Saito since. Saito keeps getting bigger and better. We are aiming to be a top three crypto.

Myko: Well! thanks for this answer. Let’s now take a glance on Saito itself.

Q2: Can you introduce Saito to us?

David: POW pays for miners. POS pays for stakers. No-one pays for the P2P network. And that’s OK if you have a network that is run by volunteers. Right now, what is happening in blockchain is a train wreck. Lots of people are building “decentralized” networks and expecting that they will remain open and secure as they scale beyond the point where volunteers will pay for stuff. The problem is that this isn’t how economics work.

We can talk more about these economic problems if people are interested. But the short version is this — if you ask a company to pay for something, it closes access to the value that it creates. So as these networks get bigger and more expensive, companies start controlling and manipulating the flow of transactions for profit. We already see this in some of the biggest blockchains where running nodes are expensive — Infura controls over 80% of ETH’s transaction inflows, last we heard, and TAAL is producing over 95% of BSV blocks too.

Saito solves this problem. In the process, it also solves the 51 percent attack and eliminates sybils. We’re a revolutionary chain. So I’d love to answer questions about how we do this and am happy to dig as deep into economics or tech as people are comfortable!

Myko: Would love to see community questions to enhance this topic!

Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?

David: I recommend visiting the Saito Arcade. All of those games are blockchain applications. they are P2P (no steam, no unity, no casino servers). Just you and the other player. Shuffling decks and rolling dice? that uses cryptography. Those games are an example of what Saito lets you do — send transactions with lots of data. you can do that in Saito because we pay P2P nodes — we pay for bandwidth.

So providing bandwidth is like mining. We are adding support for other cryptocurrencies. if you click in the top-right hamburger menu you’ll see we already support DOT, KSM and WST — three Polkadot tokens. Soon you’ll be able to use them and other tokens while playing all of the games that are in the arcade, and many more to come. And — of course — if you can write a game on Saito, you can write any other application too. If anyone reading is a developer who wants an easier way to build blockchain applications — don’t build on a monopoly network like ETH+METAMASK. Contact us and we’ll help you get your app running on Saito.

Myko: Hope to see some game devs here!

David: I hope to see some poker players!

Myko: haha

David: 6 player poker using crypto? No casino. No rake???

Myko: Sure there would be some.

David: Will centralized casinos be around in 5 years? Why should anyone pay them when everyone already has the Internet? Anyway, hopefully that helps people understand what we are doing. BIG blockchain + data in transactions = web apps + crypto.

Myko: Good! Thanks a lot for your answers! Now we’ll look on what community part offers us.

Kunlefighter: There’s this statement of yours I came across where you said “We aren’t building Saito to be “blockchain #5243” or “blockchain app #52343”. We are building Saito because we need Bitcoin. And Bitcoin is broken”. I really don’t understand what you meant by Bitcoin is broken here, can you please shed more light on this and why you think Saito is the bet on economic fundamentals?

David: Why are POW and POS broken? Because the economics break. Whoever controls 51% of the fees going into the chain can collect 100% of the money processed by the blockchain.

This is what the 51 percent attack really is. Blockchains are supposed to keep PAY equal to WORK. The 51 percent point of control is where this property breaks and there is nothing POW or POS developers can do to stop it. Any 51% can team up to cartelize the network, anyone who can rent 51% of work can use the profits to pay their rental costs. Saito does not have this problem. This is what we mean when we talk about Saito not being broken. There is nothing you can buy 51 percent of that lets you collect more than 51 percent of the network. There is no 51% attack. There is no 75% attack. The cost of the attack gets smaller and smaller the greater the % of transaction inflow that you control, but it is ALWAYS positive. No other blockchain has this property.

Xperia: Hi! Where did you get the inspiration of the project name Saito? What does it mean? Is it Japanese?

David: It’s from Inception. We love Inception.

Kenechukwu: On the Saito blockchain, what happens in situations where the Golden Ticket computational puzzle is not solved? I mean, what will be the case for the funds?

Also, when a solution is found, what factors affect the ratio of paysplit that either of the miner and routing node receives?

David: When a golden ticket is found, we pay the miner half of the previous block’s fees and we then hash the solution to generate another random number that is used to pick a router (who gets the other half). We then hash that second random number to go back to the previous block and pay a router and a staker there (if that block does not have a golden ticket).

If too many blocks are unsolved for this to be practical, we collect the money in the network “treasury” when the block falls off the chain. And we slowly distribute it back into the network as a special reward, maybe an extra 0.05% of the fees in the block.

Hakeem: Many users are now complaining about miner-extractable value and have now realized that PoS networks can simply be attacked by miners/stakers for money. How does Saito intend to solve/fix these problems and what was Saito really built for?

David: The MEV problem is an example of what goes wrong when you give an economic problem to tech people to solve. If you want to solve MEV the solution is simple. Measure it and then tax it so the block producer is punished if their block contains it. Thinking about the problem this way will reveal why it is difficult to solve.

My personal opinion is that MEV is solvable, but not in applications built atop a general-purpose blockchain. That is because the trade-offs necessary to measure the existence of MEV make the networks that measure it uncompetitive and unattractive (slower, less open, etc.). Long-term I think this stuff is better solved L2 atop Saito anyway.

Mert-F&B: Saito is known to power games, communication tools, social media applications. So will Saito be limited to these? Which area is Saito’s next target?

David: Saito lets you put data inside transactions. One great usage is to use the blockchain to do “Diffie Hellman Key Exchange” — generate unbreakable secrets between groups of 2 or more people. 

At massive scale this may be the most important use of the blockchain, because once you have someone’s public key it is totally secure — there is no MITM attack. We can use this sort of network to replace pretty much any centralized service with decentralized versions. Publish your keys and IP addresses on-chain (when they change). Communicate with your peers off-chain with secure unbreakable comms

Abisola: No 51% attack, no volunteers, no miners and it’s impossible for stakers to attack the network for profit. With all these features of Saito, I can confidently say that it is far better than Bitcoin and Ethereum combined. However, only few people know about Saito and the benefits it brings. Can you tell us the effort you are making in helping people understand how Saito works? How frequent do you publish articles about the project as this will go a long way in making people understand the project better?

David: We can’t control the speed at which people understand, but we can build. The future we are building will happen regardless of whether people understand it.  And once it exists people will treat it as obvious. We’re constantly experimenting with ways to communicate. I think we’re making progress. Lots of blog posts here.

Video is harder and more time-consuming. But we experiment with it too. I like this video a lot. If people like the Prestige I hope they will like it too!

Olamide Mutiat: What advantage does hosting on Polkadot network offers the Saito Network Platform?

David: Polkadot doesn’t have something like Metamask and the developers understand that Infura is a monopoly and can see the ways in which Ethereum is broken. We’re trying to position Saito applications as a better way to build Polkadot apps.

It is a lot harder to engage with ETH devs and Bitcoin devs, in part because they have these ideologies that make them highly resistant to the idea that their networks are flawed and broken in fundamental ways. Because if that were true….

Cryptomania: I see in one of your articles that Bitcoin is broken, Ethereum is broken and ALL PoS networks are broken. Does this mean that Saito will never break? How do you intend to make Saito work and never break?

David: It depends on what you mean by break. PoW and PoS have known cost-of-attacks that hold up until someone controls a percentage of network resources. Then the cost of attack goes to zero. With some POS networks, that percentage is actually really low. A small percentage of colluding validators can bring a POS network to a halt by refusing to validate blocks.

Saito has a known cost-of-attack that holds in all situations. If someone wants to spend/burn money then they can pay that cost. But that isn’t broken. That’s the point of the blockchain.  The service a blockchain provides is that if you want N confirmations, you know anyone attacking your perceived consensus will need to spend X.

Niru: When does your presale begin? How can I purchase tokens?

David: Saito is available on Uniswap: you can buy it today. The ERC20 tokens that will be distributed this year are already something like 60 percent distributed? There’s not a lot out there. I’d really recommend people pick some up.

Abu Maleeq: Saito said the biggest “utility” it has over other networks is that users don’t need to pay extra in network fees? This sounds fascinating. What do you mean when you say this you. Don’t we already have Internet if we’re using any cryptocurrency?

David: When you pay a dollar fee in Bitcoin, you buy about 50 cents worth of security (because the 51% attack means the cost-of-attack is around 50 percent of network fee throughput). But big networks also need to pay for their P2P network. Those servers aren’t free. Either miners subsidize them, or companies like Infura run them and pull money away from miners. Or you get charged an extra fee. So 1 dollar in mining fees and another dollar in network fees. 2 dollars for PoW and PoS.

When you pay a dollar fee in Saito, the security you get is 100% of that because there is no 51% attack in Saito. And the fee pays for the routing P2P network, so we don’t need extra or hidden fees for that.

Double the security. Charge 50% as much?

Saito Consensus is 25% the cost of POW or POS per byte at comparable security levels. The mechanism design problems are solved.  At this point our big challenge is getting transaction and fee volume up so that we can actually offer people this security and the advantages are real and not just theoretical.

Mariam: Where do you see the future of Saito Network?

David: I am expecting that we’ll start with gaming applications. That will lead to a growing community and devs will start to build and target Saito community. But most people will think “Saito is gaming” and they won’t think “Saito is eating the world”.

We only need one use case that drives millions of on-chain transactions to offer comparable security to Bitcoin though. Finding out how to get there from here is our biggest scaling and growth challenge.

Tobias: What is the process for depositing and withdrawing tokens in Saito? Do you accept only the tokens previously listed on your page or how do you install a new cryptocurrency? Do you have other games in mind to add to Saito?

David: Anyone can add a 3rd party token to Saito. It requires a developer to write a module that specifies how the inter-chain behavior happens. Not necessarily easy but also not that hard.

We’re working to support Dot and some other networks first and will focus on the communities that use Saito to play games and drive growth. We hope that once people can see other communities playing games and using apps they’ll ask, “can’t we do that?” and that will lead more and more communities to embrace what we can offer.

Cryptorist: How does Saito disable bad actors when paying nodes in the P2P network instead of miners or shareholders? How do you control the security of the nodes and what is the feature of your blockchain network?

David: Saito pays nodes for collecting money to the network. You get paid depending on how efficient your part of the network is at doing that. If there is a bad actor or a useless node in your routing path, you get less money.

Participants in the P2P network have an economic incentive to purge sybils and other bad actors. If they continue to connect to them, they are less profitable and they go bankrupt. Problem solved either way

Danfavour: How do you feel bringing Saito into the blockchain industry with little or no competition for you? Do you expect more protocols like Saito to spring up sooner or later?

David: We think it’s a matter of time until everyone is adding routing work to their chains. We know that people in other chains are watching.

Lekside Olamilekan: NFTs is the hottest prospect on blockchain. Is there any possibility of applying NFTs technology to Saito products? Which features gives you the most confidence about Saito Network

David: We’re building this functionality into the Arcade. If you’re playing a game on the Arcade with a DOT token or something, you’re basically treating that DOT token as an NFT. If someone wants to write a game that uses an NFT, we will support them in getting it done.

Lalaforyou: Please, can you shed some light on the concept of the “POWSPLIT mechanism” and its benefits? How does this mechanism help to improve the security of the Saito blockchain?

David: The production version of Saito that we are building includes a POWSPLIT mechanism. This is the number of blocks that pay to miners versus the number of blocks that pay to stakers.

The reason this exists is because we can’t guarantee the variance of block production. This means we can’t guarantee that we will produce a golden ticket every block. That means money will fall uncontrollably off the chain. And we will either have deflation, or we will have a BIG block reward that will undermine security.

POWSPLIT solves this. If a block is not solved by a golden ticket, then when the next golden ticket is found we use that solution to pay a staker for this unpaid block.

The math is tricky (we have papers and equations we can share for those who want the technical work) but the short version is that it requires an exponential amount of mining to control the payouts not only for the current block but also all of these previous blocks.

The result is that even though the amount of money that we are spending on mining falls (from 50% to 25%), the cost of attacking the network remains >= 100% of fee throughput.

The POWSPLIT mechanism improves Saito. It also allows us to reduce the amount of energy that we burn, while keeping the cost of attack. The one trade-off is that it is slightly easier to spam the end of the chain-tip, although we handle that through congestion and spam policies.

Aykut: How does Saito use peer-to-peer Web3 toolsets and what is the feature of ZKP-based game functions? Can developers build applications in Saito without the need to run any infrastructure?

David: Yes. Write the app. Users can install it in their browsers. People will compete to get it to users, because they (P2P nodes) will earn money just like miners earn from Bitcoin!

Boylut: 1. I would like to know more about your Web3 Foundation Grant work, can you hint us more about it, why it was developed and what benefits will developers derive from it? 2. What do you think could be done to help eliminate Majoritarian attack which most people think it’s impossible to eliminate?

David: The work we’re doing to add DOT tokens to the Arcade are part of our Web3 Foundation Grant. We applied for the grant to make friends with Dot and have Dot developers take us more seriously when we say to them, “let us run your apps and save you money”

There are no majoritarian attacks in Saito. It’s a bit weird to be honest, because we say this and people don’t believe us until they look. At that point it’s 50-50 on them deciding Saito is amazing or deciding that they don’t want to solve the 51 percent attack. Haha. YMMV. People will care eventually.

David: If I missed anyone’s question, please feel welcome to join us in Saito Telegram. More and more people are getting “red-pilled” about the fundamental economic problems that Saito solves, and there is always good discussion to be had.

And thank you to everyone who has asked a question. I hope the answers have been on-target to what you’ve been asking.

For more updates, please do follow Saito’s official social media pages:
Twitter: https://twitter.com/SaitoOfficial
Telegram: https://t.me/SaitoIOann
Blog: https://org.saito.tech/blog
Discord: https://discord.com/invite/HjTFh9Tfec
Reddit: https://www.reddit.com/r/SaitoIO/
Youtube: https://www.youtube.com/channel/UCRUhZVAUH4JyWUFmxm5P6dQ

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Beyond opening a new frontier in blockchain gaming, the Saito Polkadot Arcade provides a working example of how we believe Polkadot developers should build web3 applications. As visitors can see, Polkadot applications running on Saito offer a better user experience than websites that need external plugins like Metamask, and eliminate the need for centralized infrastructure providers like Infura.

As part of this release, we encourage developers working on Polkadot projects that need in-browser applications to get in touch. We are happy to support the Polkadot ecosystem in getting usable applications running on the Internet today.

While we still have a second milestone to release before the Saito Arcade provides full in-game support for transfers of Polkadot assets, we hope this release gets DOT users and developers excited about what is coming. While we work on delivering our next milestone, we encourage everyone to come and check out all of the open games that already exist on Saito which will be gaining DOT integration shortly: Poker, Chess, Wordblocks, Twilight Struggle, Red Imperium, and many more. 

To make the celebration even better, join our Telegram Channel for news on a series of epic game tournaments & events launching soon which will be open to everyone.

For more updates, please do follow Saito’s official social media pages:
Twitter: https://twitter.com/SaitoOfficial
Telegram: https://t.me/SaitoIOann
Blog: https://org.saito.tech/blog
Discord: https://discord.com/invite/HjTFh9Tfec
Reddit: https://www.reddit.com/r/SaitoIO/
Youtube: https://www.youtube.com/channel/UCRUhZVAUH4JyWUFmxm5P6dQ

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