AMA Recap: Saito x SnapFingers

Empowering the Polkadot Web3.0 Ecosystem — Saito Network — the next generation infrastructure

Yesterday (30th of June, 2021–20:00 UTC+8), our CEO & Co-founder, Richard Parris, had been given the pleasure & opportunity to do another amazing round of AMA with SnapFingers on their wonderful Wechat community.

We are very pleased to share that the AMA was a huge success, and Richard got to answer many awesome questions. To those who missed the AMA and to those interested to learn something about Saito, stay tuned as we curate his answers in this AMA recap.

TRANSCRIPT BEGINS HERE:

Q1: Hello Richard, this must be your second time visiting our community, we still have a lot of new members who don’t know about Saito, so can you briefly introduce Saito?

Saito is an open network layer that delivers web3 to users. What we mean is that where people often think of blockchains as a database or datastore, Saito is a blockchain as a network.

This is important because for all the decentralisation and trustlessness in ETH/Polkadot/NEAR — all of these ecosystems rely on web 2 (client server) models to connect to users.

Saito fixes this.

Saito is a blockchain and a new kind of network. Saito is not Proof of Work or Proof of Stake (or any other “Proof of” system). Saito consensus is completely new, and pays for nodes in the network to collect user transactions and route them into blocks.

This provides a real, profitable business model to node providers that breaks the ‘data for access’ web 2 business model.

Q2: We know that Saito has some core strengths: efficiency, high security, low cost, user-friendly, etc. Saito is decentralized to enable micropayments, social, games, and other use cases. As a regular blockchain user, or as a developer, how can we participate in Saito? And just another question by myself, can we run a node for the Saito network to make earnings?

Saito is different from other blockchains, Saito creates a business model for anyone who can attract users and their transactions. The most profitable nodes in the Saito network will be the ones providing the best access to users.

There are lots of great ways to participate now — and they are fun. Join the community on the arcade (https://saito.io/arcade/) or in the social channels, try things out and provide feedback.

If you are a dev saito.io/developers is the place to go. We are looking for contributors in both the Rust and node.js implementations.

Mostly, dive deeply into our learning materials. We think they will change how you think about blockchain. And everyone knows that the early adopters do the best in the blockchain space.

Q3: Can you share with us about Saito’s progress in 2021 Q2? For example, some cooperation with other projects, or new product pipelines?

These last few months have been very busy and productive for the team. We have obviously run a successful IDO and listings, bringing Saito to ever more people.

Importantly our community has grown really pleasingly and we have a lot of great activity in our social channels and on the network itself. (Not a lot of people realise there is P2P chat and forums available on saito.io right now. https://saito.io/chat/)

A big part of this is the ambassador program which is really helping us connect with our community. Regular office hours where founders are available in Telegram, and regular updates.

We have established partnerships with Crust, StackOS and just recently Elrond. These all form a big part of our growth strategy moving forward and we hope to add to this list.

On the development front — work is moving quickly on the Rust ‘datacenter ready’ mainnet node implementation. This is a big project for us given above.

And maybe most importantly we have submitted Milestone One of our Web3 Foundation Grant. This is a big step and makes Polkadot ecosystem currencies available on the Saito arcade (saito.io/arcade) and in saito.io generally.

(We recommend using Westend testnet tokens to test things out.)

We will have announcements over the next week on how to get involved with this.

Q4: You just mentioned about “Arcade” and we‘re interested to know how many active users Arcade have? How do we get involved in Arcade? Can players get $Saito incentives for playing games on Arcade?

The arcade is handling about 35,000 transactions a day. As we are web3 we don’t track users individually, but we see hundreds of wallets a day active on the network.

Right now that arcade is on our Canary Network and reward tokens are not permanent. As we move to Mainnet this will change.

Early adopters have been allocated main-net tokens as part of an earlybird rewards program and we plan similar programs in the future.

One of the most rewarding things you can do with Saito is understand it and how it is changing the industry.

Q5: Final question, what is your plan for the rest of 2021, and are there any upcoming events or good news that you can give us a sneak peek?

The web3/Polkadot engagement is right around the corner, which is huge. This both gives users a chance to use Polkadot Ecosystem tokens in applications on the Saito network, it also provides developers with a template for simply integrating Polkadot and Kusama ecosystem parachain tokens into applications on Saito.

This gives developers a very quick and simple path to getting their applications up and running on open infrastructure.

We are also excited to have announced earlier this week Elrond have also partnered with us to provide the same benefits to developers in their ecosystem.

Very exciting times for Saito.

Free question time! Richard, please pick 5 best questions to answer, for those whose questions being picked will be granted $10 worth of Saito.

— OPEN QUESTION —

Q1: What is Saito long-term vision and ultimate goal, and what benefits can these goals bring to users?

This is a great question. So I will start here.

If you think about it — there is something special about any cryptocurrency wallets you have on your phone — compared to any of the other apps.

If you don’t like the wallet you are using — you can change. You have the seed or keys, you can delete the wallet — install another one and import your keys.

The wallet developer — and company behind it can’t trap you.

You can’t do that with 美团 or 微信 or any other app on your phone.

This is what web 3 is about — your chats, emails, short videos — should be yours…

Saito lets Developers create apps that give you this. AND, it creates an on chain economy that lets them get paid — without trapping and keeping your data.

It takes the crypto currency model faaaar past money to the whole web.

Q2: Is there a plan to destroy Saito token?

No, Saito is much like bitcoin. There is a fixed number that can ever exist.

Q3: Does Saito plan support more public chains?

Yes, we just announced a partnership with Elrond and are hoping to expand to many more chains and ecosystems.

Q4: Community building is crucial to a project. How many countries does Saito have communities in? How is the operation? What are the recent activities of Chinese communities?

We are an interesting project with Chinese and Global roots. We often talk about China and RoW (rest of the world) in terms of community.

In reality, in the rest of the world we are strongest in South America, Eastern Europe and North America.

Q5: How is Saito’s test network progressing? When does the main network plan to go online?

Test net has processed over 13,000,000 transactions. The code there is stable.

Our mainnet ‘datacenter ready’ deployment should be up and going in the last quarter of this year.

Q6: What are your different views on the current blockchain market?

I think we are entering a much more stable period that we have ever seen in the industry.

We have seen a lot of banks and big institutions, even countries buying Bitcoin for instance.

There is a lot of innovation in Defi and a wave of innovation coming in the web 3 space.

It will be amazing for the blockchain space to move more and more into the center of the whole Tech Industry.

We are only just beginning — like the internet in the 90’s!

-END-

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Twitter: https://twitter.com/SaitoOfficial
Telegram: https://t.me/SaitoIOann
Blog: https://org.saito.tech/blog
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Reddit: https://www.reddit.com/r/SaitoIO/
Youtube: https://www.youtube.com/channel/UCRUhZVAUH4JyWUFmxm5P6dQ