Saito - Solving Blockchain Scalability with Proof-of-Transactions

REGISTER here:
https://www.eventbrite.com/e/saito-solving-blockchain-scalability-with-proof-of-transaction-tickets-54958410084

Background:

The Internet and World Wide Web were created to facilitate information exchange. The researchers behind their invention were solving problems of computation and connectivity, and the entrepreneurs of that era embraced the opportunities offered by an open and decentralized Internet architecture where technical creativity and incentive design flourished.

Fast forward 30 years, however, and as the Internet has made the world a smaller place, a dominant business model of monetization through aggregating huge amounts of traffic and data has shifted power to ever-larger centralized service providers. This in turn stifles innovation — making the internet a less interesting and less dynamic place than originally envisioned.

Our Online Future:

The internet’s core services will likely be fundamentally rebuilt in the coming decades. Blockchain has, from its inception, promised to help “take back the web” by providing the infrastructure needed to reverse the current process of centralisation. This will be enabled by crypto-economic networks built on the ideas introduced by Bitcoin and then developed by Ethereum. The best of these crypto-networks unleash the promise of earlier internet eras — community governed and decentralized systems with capabilities that will eventually exceed those of even the most advanced centralized services.

The last year, however, has seen the current class of crypto-networks run into serious scalability issues, with it becoming too slow and too expensive to move data to the blockchain. While there continues to be a whole host of research on technical solutions to this problem — from sharding to side chains — the Saito blockchain proposes an entirely different way of thinking, tackling the issue from an economic perspective, and introducing a new consensus mechanism as a result: Proof-of-Transactions.

What is Saito?

Saito was founded in 2017 by early Bitcoiners and is a generational shift in blockchain technology. At its heart is a simple yet elegant solution that fixes the economic problems in all proof-of-work and proof-of-stake class networks. This makes Saito unlike any blockchain that exists to date. For most of its development, Saito has been distinct from other projects in having working code, an operating network and a genuinely revolutionary approach to scaling.

In the Saito network, the nodes which move the most data into the blockchain are the most profitable. Saito’s key innovations — a transient blockchain, proof-of-transactions (PoT), cascading-signed fees, and "golden ticket" payment mechanism — provide a way to accomplish this securely while preserving the openness of the network. The result is a big-data blockchain that can run bandwidth-intensive applications, ranging from social networks and gaming, to payment channels and more, all without the complex architecture of a virtual-machine layer.

Agenda:

7.00pm-8:00pm — deep dive into blockchain's incentive design; an introduction to Proof-of-Transactions; demonstration of Saito’s current TESTNET
8.00pm-9.00pm — Q&A and networking

Presenter:
Richard Parris — Co-Founder of Saito

Organizers:

Spartan Group
Digital asset fund and advisory group focusing on decentralized finance and internet.

BitTemple
BitTemple is a Global Blockchain Hub dedicated to fostering first-rate blockchain projects worldwide. We link international blockchain companies, incubate promising blockchain programs, and cultivate a global blockchain ecosystem.

Tribe Accelerator
Tribe Accelerator is the first Singapore Government Supported Blockchain Accelerator, championing to be a neutral platform in driving collaboration and growth of the blockchain ecosystem.