Saito Fundamental Analysis

Blockchain is an increasingly popular technology being used in a number of industries. It is an integrated solution to store data sets in the most secure way possible. Its basic function is to keep a record of each transaction undertaken by the respective participant.

Each block in the chain contains various transactions. And each time another exchange happens on the blockchain, a record of that exchange is added to each member's ledger. Blockchains make it impossible to alter the data, hack the system or dodge it in any way. From here on, different kinds of variants of blockchains have been developed. One such example is Saito. 

Saito is a sort of blockchain intended to deal with terabytes of information. It is capable enough to decentralize everything from services like small installments, to mass-scale stages such as emails and other social networks. Later on, Saito will possibly offer a decentralized option in contrast to the Lightning Network for off-chain Bitcoin transactions. 

What is Saito 

Saito is an open platform that provides web3 to clients. Applications on Saito can run without plugins, private APIs, and non-open frameworks. Saito runs without an owner while funding the nodes that not only provide routing and user infrastructure to its own network but also to other public blockchains. Saito is secure, Sybil safe, and impervious to centralizing forces and monopolization — keeping web3 open and autonomous. 

Saito is perhaps the next big thing for blockchain technology. In its essence, Saito's is a basic yet rich instrument that fixes the monetary issues in proof-of-work and proof-of-stake organizations. This sets Saito apart from all other blockchains. It comes off as a complex mechanism but in reality, it is quite simple if understood correctly. 

Saito features 

Established in 2017, Saito has been identified to be a disrupting force in the blockchain and cryptocurrency markets. It has a number of different features all of which are aimed at offering a seamless experience to the user. Saito operates through a method called Automatic Transaction rebroadcasting. This powers old exchanges to rival new ones for space on the blockchain. It pays ISPs rather than diggers or stakers, permitting Web3 undertakings to the self-store foundation as opposed to passing expenses to monopolists in the business. 

Its features also include exchange broadcasting; agreement level rebroadcasting to ensure that important information never slips off the chain. Confirmation of exchange; provides Bitcoin level of protection from redesign, charge reusing, and administration assaults. Agreement pay split; provides a reward for hubs that supply data transmission and capacity without a decrease in general security. All in all, Saito is a transient blockchain with a rich pruning strategy that pushes old information off the blockchain at normal stretches. Listed below are highlights of some of the important features that make Saito a competitive network 

• Broad Applications 

• Open Infrastructure 

• Peer-to-Peer Web3 Toolkit 

• Enterprise PKI Support 

• Proper Economics 

• Polkadot Ecosystem 

• App Installation 

Token Economy 

To be an active member of the Saito community, a small fee needs to be paid. The mode of payment for this fee is the tokens that the customers need to possess. The accumulated amount of these fees are what gives the hubs a financial incentive. These payments enable them to provide a framework to other blockchains and parachains. 

Saito tokens are bought by a handful of clients to become a participant of the whole ecosystem. Contrary to what might be perceived, some buyers might not need to spend cash to get hold of the tokens. Saito applications run directly in the browser, users can receive passive token income by installing applications that provide them with residual token income. 

It is understood better with an example of an advertising module. A specific number of ads are displayed on the Saito application without tracking. The consumer is benefited by getting paid directly for impressions and for the data that they provide to the system with their consent while maintaining all the rights over this data. The financial face of this whole situation is similar to that of the current web, the only difference is that the chances of a monopoly are minimum, 

Token economy reduces the possibility of a monopoly on the web3 layer by one entity. The clients are always free to indulge in whatever income-generating application that they wish for. This behavior cannot be controlled even by the nodes providing the customer with connectivity.

Saito Team 

Saito was founded by David Lancashire and Richard Parris. It is estimated that the rest of the team is sized at 11-50 people but their information is held in by the company. Saito’s offices are located in Beijing and Bangkok and some remote opportunities are also offered by the organization. However, the on-site availability of the candidates is preferred. 

It can be said that the team at Saito is on their feet at all times. They have managed to make a name in the market in a considerably short time. Their ability also shows how they have raised millions in funds from potential business partners. 

Saito partners 

Saito announced its alliance with Polkastarter for its IDO launch. Polkastarter is a decentralized protocol for putting forward groundbreaking ideas. Saito will not only be able to raise further funds with this IDO but will also be able to gain more awareness about the project, community interest, and long-term support.  

In addition to that, Saito successfully formed an alliance with Spark Digital Capital, DFG, and Block Dream Fund by OKex. It is also supported by strong entities such as Candaq, Inn 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. 

Final thoughts 

Saito revolves around the idea that eventually, infrastructure will take over mining in the user-facing web3 layer. This is what makes Saito the best thing that has happened to the blockchain space in a very long time. In light of the fact that most blockchains battle to support foundations and infrastructures. Whereas, Saito resolves this particular issue. 

Saito is scheduled to conduct an Initial Dex Offering (IDO) on Polkastarter. The offering is scheduled to go live on April 22nd, 2021. The process to take part in the offering starts with joining @SaitoIO on the telegram group and using the application bot. The bot redirects the user to retweet and shares some minimal information. From there, the selection process begins. It is highly recommended to take part in this IDO due to the huge potential of the ever-growing Saito ecosystem.