Discover and read the best of Twitter Threads about #saitonetwork
Most recents (2)
Long thread👇
1/12
There are two incentive problems that Proof-of-Work (PoW) and Proof-of-Stake (PoS) blockchains inevitably encounter that undermines network scalability:
1⃣ Tragedy of The Commons Problem
2⃣ Free-rider Problem
1/12
There are two incentive problems that Proof-of-Work (PoW) and Proof-of-Stake (PoS) blockchains inevitably encounter that undermines network scalability:
1⃣ Tragedy of The Commons Problem
2⃣ Free-rider Problem
2/12
These are types of problem that lead to market failure wherein individuals can profit by behaving in ways that imposes cost on the whole ecosystem.
Let's dive deeper👇
These are types of problem that lead to market failure wherein individuals can profit by behaving in ways that imposes cost on the whole ecosystem.
Let's dive deeper👇
3/12
Tragedy of The Commons Problem:
❗️ Miners make money today by putting data on the blockchain that must be supported by other network members in the future
❗️ There is a privatization of gain (today) and a socialization of losses (tomorrow)
Tragedy of The Commons Problem:
❗️ Miners make money today by putting data on the blockchain that must be supported by other network members in the future
❗️ There is a privatization of gain (today) and a socialization of losses (tomorrow)
THREAD ABOUT $SAITO (#2):
1. Saito is a very new (May 2021) layer one blockchain built for Web 3.0 i.e. the decentralised Internet inc. large dapps e.g. gaming projects…
1. Saito is a very new (May 2021) layer one blockchain built for Web 3.0 i.e. the decentralised Internet inc. large dapps e.g. gaming projects…
2. The Saito blockchain is 1 x petabyte (1PTB) in size, making it the largest of all blockchains, hence it will have the ability to store and process huge amounts of information and transactions…
3. One petabyte of data is equivalent to 1,000 terabytes or 1,000,000 gigs of data storage. To put this into perspective, an average 4k movie is 100GB. This would mean 1 PTB of storage could hold 11,000 4k movies…
