Thread by @Acooomulate

THREAD ABOUT $SAITO:

1. Yesterday I was contacted by my man Maximus (@wind_1919) asking for opinion re: some $Saito FUD posted on 4Chan…

2. I replied, explaining that Blockchain 2.0 (i.e. $Saito) is just getting started, I also pointed out that it's backed by some v. serious VC's inc. NGC (Neo’s investment arm), GBV, Spark Capital & also Gate.io.

3. Any fundamental weakness in the Saito model imo would’ve been picked up and identified by these big brain investors.

4. My take : it’s ‘Horses for Courses’ and an exciting Layer 1 Blockchain like Saito is the future of Web 3.0 and will be most suited to large Dapps inc. gaming/metaverse, instant messaging and decentralised social media, for example.

5. However, I couldn’t answer all his questions fully, so I reached out to David Lancashire, co-founder of Saito. I sent David this link (sent to me by Maximus)  and asked for comment, thinking he probably wouldn’t reply or I’d just p*ss him off...

6. Within 1 hour David replied very comprehensively. He was polite, friendly, open/candid and offered some really interesting insight into $Saito. Here's a summary of what was said...

7. Saito consensus is not secure at 40k transactions per day. It need millions to pull cost-of-attack up, but so does every other blockchain... networks that depend on having a block reward are in for a rude awakening once the plug is pulled on that…

8. At scale Saito should be twice as secure as other blockchains at half the cost. No one is disputing this. Let that sink in!

9. It's tough to respond to a complaint that 84% of tokens have been allocated for X when the chart being screen shotted shows that the number is less than 25% (an amount smaller than most other POS chains - and through contracts that require provision of more than just cash).

10. Saito is a serious attempt to fix the incentive misalignments in POW and POS that are creating economic problems in those networks and pushing them into permissioned corporate ecosystems, meaning…

11. If Saito is right about these issues (and the viability of their solution) “IT WILL BE A TOP 3 CRYPTO!" David believes they are right. So does Richard (other co-founder)

12. This is why Saito push people on the fundamentals even though so few dig down to them. David said the people that do are worth their weight in gold. Hence, he appreciates being challenged bc it brings the facts and fundamentals to the surface for open discussion.

13. They're testing their software daily - the Saito Arcade exists for a reason!

14. The FUD’ers don't understand consensus… there is NO block reward because Saito doesn't have one, and…

15. There are NO mining profits because their security mechanism is driven by fee collection and the payout to miners is contingent on fee throughput, which requires strategic execution of application development to generate.

This info imo speaks volumes for the project and the people working on it behind the scenes inc. David and Richard. Saito will be hugely important to Web 3.0 and your not late to Saito under $1… so pack your bags ppl!! 🚀 #saito #saitoConsensus #saitoarmy #blockchain