Saito is a new type of layer-1 blockchain that powers peer-to-peer applications
Saito Consensus solves fundamental problems with distributed consensus so developers can build great web3 apps. Learn more about Saito Consensus
Saito started back in 2017, when the founders realized that Proof of Work and Proof of Stake can pay for network security, but cannot for anything else that networks need to scale. Saito delivers a new economic model for blockchain. Saito Consensus aligns incentives for all participants, paying nodes for scale and while remaining open.
To create a real economy running on this network, that supports an open ecosystem of peer to peer applications, where users are sovereign and own their data, and providers that serve them best are most profitable.
How Saito works
Saito Consensus and Saito Nodes
Saito Consensus Mechanism
On the surface, Saito Consensus pays nodes in the p2p network for serving users in addition to paying for the security layer. The more a node does for users, the more it gets paid.
Nodes can route traffic and support apps. This is important because successful apps attract users, and more users also leads to more routing and more transactions. With Saito Consensus the closer the routing node is to the user in the transaction’s path to the block, the more the node gets paid.
What about mining and staking?
In all the cases where traffic was routed but the miners did not solve the hash solution, the reward fees are locked up within the network and distributed via staking mechanism. This in turn prevents rampant deflation while also maintaining better economic stability.
Mining Supports the Consensus Mechanism
In Saito, miners compete to produce rare solutions to hash problems, this creates randomness that ensures payments to routing nodes are secure and fair. When a solution is solved, payment is split 50/50 with the nodes routing the transaction.
The SAITO token
SAITO token is the utility token of the network. All network node payments and transactions use the SAITO token.