1. This is because most people try to imprint or transfer their understanding of POS & POW directly to $SAITO or they try to take fragmented facts & imprint the rest as if it’s understood. In the video describing this, Validators which are $SAITO nodes don’t get paid
(2\11) immediately but they do get paid. The Validators collect TX’s ie value coming into the network. They are incentivized based on the consensus to pass the TX’s to the next Validator or miner along the path as they want to be sure to collect as many Golden Lottery tickets
(3\11) along the way. This is how they get paid. The hops are how $SAITO quantifies the amount to be paid, the golden ticket lottery & as well as the way the initiation for the Lottery is triggered. For instance after a certain amount of time the front facing nodes will have
(4\11) enough in their Meme pool to qualify for the Golden Lottery ticket. The miners are incentive to find the solution as they will get part of the pay split as of now 50% goes to paying Validator/Routing nodes and 50% goes to paying miners. This can be adjusted. Also, the
(5\11) Validator/Routing node that hits the threshold will be much further behind than the nodes behind them that have been collecting TX’s for the network, allowing for decentralization of value distribution (ie allowing for decentralization by design). Also, there is no
(6\11) barrier to entry meaning that anyone can run the $SAITO Validator/Routing nodes by downloading the client & waiting for a round of the history to be shared. 2. It’s important to understand that the rebroadcasting deals with the DATA on the chain being rebroadcasted not
(7\11) the original HASH & transaction. This means that there is always a full history but to keep DATA on chain it has a cost. This is why all blockchains have a Tragedy of the Commons issue which Saito Solves. People are incentivized to do as much DATA on the chain because
(8\11) there is not a known market price to making sure that all the DATA being kept on chain is paid for. This is one of the main economic problems. These problems are known as the Tragedy of the commons is the issue with not understanding that dumping of the DATA that cost
(9\11) is not being adequately accounted for will lead to a collapse of the Blockchain. Miners and stakers today can offload this cost to the future due to the economics 3. An example of a TX’s DATA not TX (history = hash to original provenance on Blockchain) no longer
(10\11) wanting to pay for the rebroadcast fee would be a 1 year full document 📄 of Life Insurance where they needed and wanted it to be on chain but possibly after year 3 it no longer made sense to keep the Data of the document on chain just the TX’s hash provenance to keep
(11\11) the historical record of occurrence.
Thus any idea around a security risk is unfounded. I think it originates from not understanding that the ATR fee is for DATA but NOT for historical provenance of the TX occurring that never goes away
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[1\16]A Psychological walk down #NFT lane. A personal perspective on #NFTs for the sake of #MassAdoption intelligent people should start to pay attention. With new concepts we tend to fragment them outside our context & understanding of human behavior &
[2\16]preference. Why? It’s because we struggle in the beginning to fully understand how this new conceptual technology fits into the paradigm and conceptual framework of human behavior. When something as abstract as an #NFT people have a difficult time comprehending how it
[3\16]might impact human behavior. Many have argued with #NFTs , “you are just owning a JPEG”. The truth is #NFTs don’t allow you to own the content but what they give you is ownership to a Token that is tied to the Artist/Brand and Specific Artwork. This is powerful. I will
(1\8) “It needs to be brought up over & over again that Mark Zuckerberg first iteration of #Facebook@Meta was to rate women on campus against their will on whether they were hot or not. This is very telling of where his mentality is in general. He took a machiavellian $eGLD $GNG
(2\8) approach to all things. The end justify’s the means. This grabs a lot of people that focus on the EGO a lot because they have this freedom to play GOD which is very appealing to Mark & to his credit I think he tries to use that power to effect good but the lore of his
(3\8) core of how he started is very strong at the same time. He is a researcher of the metrics. He is an engineer of the psyche. This is not someone I want to rule WEB3. He already dominated WEB2 & we saw what he did w/ that power. So very much the reason for creating a @Gnogen
1/In early stage TECH, many aspects R highly stigmatized early on due to them not being normalized from a collective social construct. Shame & being perceived as “stupid” often times gives people a reason to look for every reason they could be wrong rather $eGLD $CEL $SAITO #NFTs
2/than intelligently looking at the totality of the market & 🌎 at large. The people who are choosing a different way because certain human needs are not being met. Incumbents from existing industry often stoke the flames of these fears of self shame, fear of looking stupid &
3/ play the role of hero of savior & drive large followings due to often times irrational early stages of excitement that bring ideas that may not exactly have lasting power as reason or justifications of the technological eventual demise. This leaves many in a state of confusion
1/ I bought more $SAITO The breakthrough in $SAITO is more significant than #BTC Reason is simple #BTC is a volunteer network that will never be able to scale commercial sized networks as volunteer🌐turns to a closed point at scale @dlancashi 🧠 I will give an analogy & insight💡
2/ of Trust. Volunteer networks are great at smaller scale but moment U try to scale ⬆️, it’s the same as scaling trust from a family to community, to a city, to a state, to a region, to a country, to a continent. U might trust your brother (family) to come use your computer 💻
3/ In your home, maybe even some of your community (neighbors) to use your computer 💻 the issue is that if U allow them to use it for FREE, they can even use it to make money (similar to Mining ⛏ or hashing on the #BTC network) & BUT computer needs to be paid into to maintain
1/ I want to start off by saying the leadership & communication of @beniaminmincu & TEAM is truly extraordinary. It doesn’t surprise any of us who have been super close to the @ElrondNetwork $eGLD project. They care deeply about everyone. It shows in their actions & words #Crypto
2/ I am sure it surprises many Y I spend so much time, energy & effort educating & sharing w/ community for FREE. I deeply care too. The 🌎 is not set up in a way to help #ThePeople Yes, I could charge a lot of money & hide behind a paywall but I choose consciously not too
3/ Money is not good nor bad it’s a powerful force for creation or destruction. It helps us direct what we want to see more in🌎 I allow donations to let others direct if they see fit but not charge to avoid conflict of interest & promote inclusiveness for those who can’t afford
1/ A case study of $eGLD ⚡️ @ElrondNetwork & @MaiarExchange $MEX Ⓜ️maintenance & explanation of Y economic reward changes needed to be made immediately for everyone’s best interest *except mercenary capital. Y changes were made (speed) & what can be improved going forward #Crypto
2/ As discussed in 2.5 HR 🎥 #MasterClass@MaiarExchange $MEX there can be unforeseen elements. We R investing in disruptive technology w/ A LOT of moving pieces. With great rewards comes complexity & risk. As stated Risk Adverse = only allocate 5% to #DEX
3/ The @ElrondNetwork $eGLD Team did endless bounty testing to ensure things were Secure 🔒 & ready to go for the @MaiarExchange (Paying out a lot of real money to stress test it 2X) This has proved to work according to plan (No security issues).