xMarky 🟥

Hello Marky
Investor, setup chaser

[Saito Network 🟥 @SaitoOfficial]

A Panopticon is a prison designed to enable efficient spying on its inmates.

Let's talk about why the modern internet has been compared to this privacy nightmare, and if web3 is a plausible escape.

🧵

[David Lancashire 🟥 @dlancashi]

Saito Consensus favors the proposals of agents who are cooperating, and cooperation must be welfare-increasing because it requires agents to share claims on the refunds the mechanism will give them exclusively if they don't cooperate with anyone.

[Crypto Fundamentalist @cryptofundst]

There’s an invisible layer in crypto that most never think about: the economic layer.

Everyone talks about scaling, speed, price.

Very few talk about:
•Incentive compatibility
•Truthful preference revelation
•The free rider problem
•Public goods
•Sybils, collusion, and governance distortion
•The tragedy of the commons

These aren’t buzzwords. They’re the silent killers of many protocols. And they’re the reason most blockchains won’t scale sustainably.

Shoutout to David Lancashire (CEO of Saito) for pushing this conversation forward with uncommon clarity. And to @Rosspgreen for the inspiring conversations that helped spark this post.

The future won’t be won by the fastest chain or the loudest narrative.

It will be won by those who align incentives well enough to outlive the hype.

We’re watching that space very, very closely.

#CryptoFundamentalist
#Web3Economics
#LongGame

[David Lancashire 🟥 @dlancashi]

We'll be speaking tomorrow at 11am at the Bleeding Edge Summit at ETH Denver.

Grateful to the event organizers for the chance to speak about such an important topic. It sounds like the event is already fully booked, but if you care about mechanism design 100% do not miss...

[xMarky 🟥 @MarkyCrypt]

@callme_jouloud Thai ?

[xMarky 🟥 @MarkyCrypt]

@Rosspgreen @Saito_XL Of course, even if they're looking for new and interesting technology, they're still in it to make a profit. And right now, it's really hard for us to be that

[xMarky 🟥 @MarkyCrypt]

@fibonaccicheese Alt F4

[xMarky 🟥 @MarkyCrypt]

@solver_cs Xlaunchpad is useful for raising funds for projects. I don't see what's wrong with raising funds in EGLD and then selling them to obtain the liquidity needed to set up the project.

[xMarky 🟥 @MarkyCrypt]

@callme_jouloud Big dick never back in town

[Saito Network 🟥 @SaitoOfficial]

You can build on Saito today! Pioneer Web3 - don't wait for permission.

[Saito Network 🟥 @SaitoOfficial]

👂You may have missed it:

"Quietly confident Saito reaches token persistence ahead of schedule." [27:30]

📉The Token Persistence curve is at 62,000 now. Lower is better.

💸At 0, the door is opened for DeFi, NFTs and more.

🚀Progress on low-fee security accelerates that!

[Muk 🟥 @MukkingAbout]

I'm going to try.

Let's break down this short paper. 🧵

🙋‍♂️ A Simple Auction?
Blockchain fee mechanisms can appear as the simplest thing in the world:

You pay a higher fee, you get into a block sooner - a basic auction.

It turns out there's more to it.

[Saito Network 🟥 @SaitoOfficial]

🧑‍🔬State Bloat Doesn't Exist on Saito

Saito is capable today of what would ruin other blockchains:

Mass-scale, fee-free transactions.

💸This is offered on our official node to accelerate adoption, but it also allows nodes to safely monetize their service in flexible, off-chain ways.

🌋The state bloat this would cause on any other chain would lead to ruin - Saito's circular chain allows this novel setup.

♻️Even for standard fee-paying transactions, the circular chain (ATR) means nodes don't have to charge for 'forever-storage.'

🌟Transactions are significantly cheaper and blockchains autonomously sustainable with ATR.

📜 P.S.
This isn't a technical solution which finds clever ways to make old data more compact or optimize its retrieval.

This is a fundamental economic solution around the incentives that ensures storage pays its market price through a decentralized mechanism, and a solution which leverages UTXOs to enforce it and retain immutability.

State Bloat is the chain being burdened by old data which must be retained but will never pay for itself - old, possibly 'dead' transactions thus raise the costs for everyone, forever! Not on Saito.

A common misconception is that users pay multiple times on Saito, but in reality the same payment is simply spread out over the lifetime of the data, meaning upfront transaction costs are SIGNIFICANTLY cheaper.

The Saito Solution to incentive problems is mechanism design that can pay money to where it is needed without relying on privatization or centralization. We don't need committees or L2s to direct funding efficiently.

[Adam Bates @xAdamBates]

Chess Chat Chill

[Muk 🟥 @MukkingAbout]

Specific questions are always a joy to try and answer.

ATR is an understated revolution.

@SaitoOfficial

[David Lancashire 🟥 @dlancashi]

for those paying attention.

Saito is a Dutch clock auction for block producers...

[⚡️Alin⚡#ZayaAi 🤖🥼 @Alinstm]

@xPortalApp Omg, $Saito in @xPortalApp 🔥🔥🔥

[Saito Network 🟥 @SaitoOfficial]

🗓️We're thrilled to be hosting a conversation @Rosspgreen tomorrow!

📘Ross's book "The Essential Guide to Blockchain Platforms" features in depth look at Saito and other blockchains.

🧠Ross is a pioneer in understanding and explaining Saito - we're very happy to have him!

[fibonaccheese @fibonaccicheese]

🧵 How $SAITO Pays APR for Holding Tokens on Native Layer 1

Did you know that @SaitoOfficial pays APR to all holders on L1 without needing to stake or mine?

This makes everyone an automatic contributor to the network

Lets dive in ↓

[xMarky 🟥 @MarkyCrypt]

@SaitoOfficial Amazing job guys !