Saito: Open and scalable Web3

Existing consensus architectures Proof-off -work (POW) and Proof-OF-Stake (POS) stimulate miners and validators, respectively, ensure the security of the network. However, the nodes that provide access to the network do not apply to them. In addition, miners or validators are not interested in providing infrastructure for DAPP, as a result of which users are defenseless to centralized third -party infrastructure suppliers.

The new POW consensus from Saito will correct this.

What is saito?

Saito is a POW blockchain of the first level with a unique feature in the consensus mechanism. Saito consensus stimulates nodes not only to ensure the security of the network, but also to provide users with infrastructure, transactions routing and support support. Since the infrastructure is distributed by Nodes, applications on Saito are performed P2P, which allows users to maintain control over their data.

Team and investors

Saito was founded by David Lankashir and Richard Parris, technological entrepreneurs with extensive experience in China, both in crypto space and beyond. A team of marketers, debuggers and testers, application developers and community managers also work over Saito, most of which are based on Asia.

The team indicated that they have a plan for more than two years if further sales of tokens are not held.

To date, Saito has raised more than $ 4 million – an initial round of $ 2 million in 2018 and a strategic round of more than $ 2 million in 2021. Among their sponsors are Candaq, Inblockchain, NGC and Signum.

Consensus saito

Nodes and validators are usually stimulated to perform a certain work (for example, to stake or mining). This leads to the fact that the nodes work for free or give priority to paid work, ignoring other tasks, such as transactions routing, data storage, etc.D. POW and POS networks are also vulnerable to an attack of 51%, when an attacker can capture the network if he owns 51% of the hashing power or share (POS) in the network. Saito seeks to eliminate these problems with the help of four basic solutions: the creation of blocks, a lottery of payments, an increase in the cost of attack and automatic transaction retranstion (ATR).

Production of blocks

Each transaction on Saito contains routing signatures, which are added every time the transaction is sent from one node to another. Thus, the same transaction located in different memes will have the same data, but will differ in a set of routing signatures. Why is it necessary?

On Saito, the complexity of the production of blocks is determined by creating a block with a sufficient amount of routing. Routing for the unit is the amount of routing contained in each transaction inside the unit. Thus, transactions do not affect the routing of GCDs, which are not included in their route. As soon as the block is created, the entire commission in the block is burned. It also excludes unreliable performers, since they will not be able to receive payments for fewer work than required.

Lottery of payments

Saito defined the attack vector known as the “Payment processing attack”, which struck the Pow and POS network. “Payment processing attack” is a way for attackers to earn more money for performing the same work with their colleagues. To prevent this, a lottery of payments is used, where each unit produced contains a task that miners must solve.

The solution is called a “gold ticket”. If the actual gold ticket is included in the next block, the funds from the burned block are divided between the miner, which found the solution and a random node in the routing network. This process is repeated by the block behind the block, since the fee is charged with the NOD for burning for the right to make blocks, restore and distribute payments.

The winning node is selected using a random number provided by the gold ticket. A random number is heavitated to select a transaction from the previous block before it is reheated again to select the NODA routing from the list of winning transaction. Nodam, which are closest to the user on the path of transaction to the block, pay more.

An increase in the cost of the attack

The Saito consensus system makes a very expensive attack – in fact, the cost of attack is more than 100% of the total network throughput. This was made possible thanks to the Saito consensus system, which stimulates work at the transaction level, at the same time stimulating the nodes that ensure the security of the network (miners). As explained above, the nodes collect the hash as transactions route and create blocks as soon as their mempoules is filled enough to meet the requirements of the complexity.

This system is designed to make it more difficult and more expensive to conduct majority attacks. Compared to BPOW systems (BLOCK-OrMBEDEDDED POW), where an attacker can maintain his costs to attack constant as long as he has more hash than honest miners, TPOW (Transaction-OrMBEDEDDDE Pow) costs constantly increases with the “accumulation” of work inaccessible to the attacker. Even the richest attacker will ultimately have to allow another Node to contribute at least in order to reduce the cost of attack.

Automatic transaction relay (ATR)

Saito divides its blockchain into periods by n blocks. For example, if the last block is 100,000, and N is 10,000 blocks, then the current period is 10th and begins with a block 90 001 and further.

If the block falls out of the current period, its inexplicable weekend transactions (UTXOS) are considered invalid. For the block to be considered valid, any UTXO from this block containing a sufficient number of tokens to pay for relay should be re -enabled by the manufacturer of the next block. This relay fee is twice the average by the byte paid by new transactions and determined during the period of smoothing. These UTXO are performed using automatic transaction relay (ATR), which also include initial transactions as built -in data.

Tokenomics

Saito is the token of the Saito network, and its maximum offer is 10 billion tokens. At the time of writing, the general offer of Saito is 3 billion – the team paused the release of tokens of the remaining proposal. With a revolutionary supply of ~ 2.2 billion tokens and a price of $ 0.02, this means that the market capitalization of saito is ~ 44 million dollars at FDV ~ 200 million dollars.

Since the Saito network has not yet been completely launched, Saito tokens currently exist in the form of ERC-20 and BEP-20 tokens, and Saito tokens on the network cannot be directly transformed into the above tokens standards.

Last news

On November 6, 2022, the team published an update on the development of their network.

• Front-End Development includes:

Blockchain hard
• Optimization and correction of games and social networks
• Digital rights control module
• New games and applications
• Revision of SDK

Review of the ecosystem

At the time of writing this article, users can interact with a number of games in Saito Arcade, which is a set of multi -user strategies and card games, such as chess, solitaire and others. Users can play themselves or join leagues, or can simply be observers. Arkad also has a community chat and forums dedicated to a specific game.

Conclusion

Saito has been in development since 2017, and before the launch of the mains there are about a year left. During this period of time, a significant amount of L1 was launched – all with various approaches to scalability of blockchain. As we said earlier, attempts to scale blockchain focused on parallel processing using networks such as Aptos, Sui and SEI, modular blockchain architecture, such as Celestia and Fuel, and a cartoon using Ethereum and Near. Saito, however, seeks to solve the problems of scalability that current blockchains face by separating the vectors of attacks: reorganization of the network, processing of payments and management and reorientation of economic incentives to work with transactions. Thus, the cost of the attack and the decentralization of the network rises without compromising for scalability.

Although theoretically this may work, we still have to see all this in action on the Saito network with economic and user activity. It will be interesting to look at their unique pow architecture in action.

Saito allows (and simplifies) the developers to create browser DAPPs that do not depend on closed infrastructure and private APIs, since in the interests of the Nodes to provide infrastructure to users. This should lead to the creation of DAPP with an excellent user interface and ease of use, which will increase the implementation speed.

We look forward to when Saito launches Meinnet, and we will monitor the development of events.

Warning: Bybit employees can be involved in some or all tokens and projects mentioned in the article. This statement prevents any conflict of interests and is not a recommendation to purchase any token or participate in any of the mentioned ecosystems. This content is intended exclusively for introductory purposes and should not be accepted as an investment council. Please study this issue well and be careful if you plan to participate in any of these projects.