Saito has demonstrated sufficient rapid response capabilities in the face of intensive DApps. The Web3 Foundation formally approved Saito’s proposal in Q4 of 2020.
Written by: Alice Qu
In the Internet age, technology giants such as Google and Facebook use dedicated databases to verify user identity and store information. Since technology companies own the data, they can force users and developers to use their websites and services by restricting data access rights. In the Web3.0 era, all this will inevitably change. In the future, users do not need to upload data to the company’s private database, but only need to publish it to the public network and use an encrypted signature for identification. This will enable everyone to fairly access the required data from the public network, eliminating the additional cost of accessing private databases.
Saito subsidizes the revenue of the entire network to every node and user participating in network construction through a set of incentive mechanisms, allowing users to spontaneously participate in the construction of the network, thereby solving the operation and maintenance cost of the network infrastructure. And built a support layer, so that the platform allows developers to freely build blockchain applications, and the imagination of such applications is much larger than smart contracts. Therefore, the application experience based on Saito will be expected to be comparable to the products provided by today’s centralized technology companies.
Because of this, Saito has demonstrated sufficient rapid response capabilities in the face of intensive DApps. Based on its good on-chain ecological foundation, the Web3 Foundation formally approved Saito’s proposal in Q4 2020, and Saito has also successfully obtained its award Grant.
What is Saito
Saito is a user-oriented Web3.0 open network layer. Applications on Saito can run without closed plug-ins, private APIs, or open infrastructure. Saito network is completely decentralized and can provide funding for Saito and other public chain nodes that provide routing and user infrastructure. Saito network consensus is highly secure, resistant to sybil attacks, and anti-monopoly and decentralization are integrated to ensure the openness and independence of Web3.0.
Saito proposed the POT (proof of transactions) mechanism . It is not that the nodes with large contributions in a block can get the most rewards without any suspense, but as long as they contribute to the block, they will get a reward. “Golden ticket” (goden ticket), which has no direct relationship with the amount of single-time contribution computing power. As long as you make a contribution, you will have golden coupons. As long as you have golden coupons, you may win the “big prize.” Then, no one will deliberately fight for computing power in order to get more rewards, resulting in the risk of block control rights. This is the economic principle of Saito’s solution to 51% attacks.
Source: white paper
In addition, Saito also proposed a temporary (transient) blockchain + automatic transaction rebroadcasting (automatic transaction rebroadcasting) solution. Specifically, the old transaction data can also be stored on the chain, but the handling fee must be the same as the new transaction. In order to store data on the chain, traders must always pay fees.
For a simple example, suppose the Saito chain is only as long as 1500 blocks. Once the 1501th block is mined, the first second block becomes the “Genesis Block”, and the first block is dropped. , The UTXO inside cannot be spent. If the transaction in the first block still wants to be stored on the chain, the node needs to rebroadcast it again, which is the so-called “transaction rebroadcast”. In this way, the UTXO in the old block will be on the chain again. When broadcasting again, the node will charge a portion of UTXO as an additional fee.
In addition, in Saito’s network, even if the node gets 99% of the transaction processing, it will be subject to the decentralized system. It will not happen that individual nodes control the entire network , because only through transaction processing to obtain gold coupons, and then through the gold coupons Enter the reward mechanism. After the decentralized distribution mechanism is processed, miners can get the final reward.
Saito’s advantages
The open network provided by Saito can run blockchain applications in browsers without closed plug-ins and non-open underlying architecture, and can even pay nodes to ensure that other networks can operate in a free and decentralized environment, mainly including the following Aspects:
- Peer-to-peer Web 3.0 toolkit: ZKP-based economic functions, such as random number generation, etc.
- Based on Polkadot Ecosystem: Support Polkadot and other Web3 versions
- Blockchain potential: support data-intensive applications such as games and social media, and obtain sufficient consensus based on actual needs
- DApp web version platform: Provide developers with a simple and easy-to-use DApp platform including mobile QR scanning, etc.
- Web 3.0 PKI infrastructure: Saito decentralized third-party trusted blockchain technology, which can efficiently process data encryption and authentication
- Open infrastructure: Saito’s underlying architecture can ensure that other blockchain technologies run profitably on Saito in a decentralized manner
- On-chain deployment: DApp is distributed on the chain through a point-to-point method
- Moderate economy: Design a scalable throughput scale through simple economic principles
Saito pays for users’ basic nodes through an open consensus mechanism. Because this method can be naturally large-scale, it can incentivize the processing of large amounts of data, and can be used to create decentralized versions of many data-heavy services, such as non-intrusive data exchange, identity verification and monetization applications, It can resist distributed key registration and payment channels from MITM attacks.
At the economic level, Saito can be understood as a solution that guides the free market to provide common underlying technologies . Saito corrected the inherent collective behavioral problems of PoW and PoS. Therefore, profit-seeking participants competed to bring funds into the network, so that the scale reached the level that the underlying network hardware rather than economic constraints forced the growth of the blockchain. At present, the actual limit of Saito is 100 terabytes of data per day, and the routing capacity can reach petabytes within ten years.
Compared with the optimized consensus of sharding technology, the block generation rate is increased and the confirmation time is accelerated to achieve fast chaining. Or Layer 2 such as Plasma, zkRollup, Optimistic Rollup and Validium put some calculations off the chain, and then guarantee the chain through cryptography technology The following is accurate and then packaged on the chain, but none of them can completely end the expansion problem . Saito is a solution that truly fundamentally solves the problem of centralization and can achieve pure decentralization.
development team
Saito co-founder David Lancashire graduated from the University of Berkeley in economics and computer science. After going to Tsinghua University in 2004, he founded a blockchain startup in Beijing. Another co-founder, Richard Parris, graduated from the University of Melbourne in mathematics and philosophy, and then accumulated a lot of experience in the technical field. In 2007, he served as the CTO of a start-up company in Beijing.
Saito founder David Lancashire once said, “We should insist on pure decentralization at all times. There should be a truly simple, open, reliable, and decentralized one in the blockchain world, which can serve everyone at the same time. This is our original intention when we founded Saito, and it is what we have always insisted on.”
Development roadmap
Saito plans to develop technology, tools, protocols, and better adaptation to Polkadot parachains in the near future. For example, Saito plans to expand the game engine to a common Web3 standard, attract communities and infrastructure providers to add nodes to the network, and help Polkadot. Holders of card parachain slots generate utilization value on the chain, accelerate the development of Saito, and develop SDK tools.
summary
Saito plans to combine circular distributed accounting with a consensus mechanism for incentive collection and sharing to fundamentally solve the problem of collective behavior that PoW and PoS hinder the large-scale blockchain, and it can also solve the cost of mining and pledge. Although what Saito can present to users is only some components in the browser, these high-performance “small components” have been more decentralized than most applications on the chain.
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