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SAITO is the native cryptocurrency token of the Saito layer-1 blockchain. Saito is an open-source blockchain that aims to solve the scalability and centralisation issues that come from building decentralised applications (dApps) on Proof-of-Work and Proof-of-Stake blockchains, such as Bitcoin and Ethereum. The protocol wants to ensure that blockchain infrastructure remains open and that the connection to decentralised applications (dApps) remains decentralised. These issues are sometimes referred to as “Blockchain Bloat”, which is defined by excessive data load slowing down transaction times, and the “Free Rider Problem”, which is the cost of using the network increasing over time. Saito plans to combat the centralisation that comes with node operators; this is often referenced as the Infura problem. Infura is a service provider that allows dApp developers to deploy their applications at scale on the Ethereum and IPFS blockchains. To run dApps developers need to run native nodes, which can be a painful and expensive process. As a result, developers rely on service providers such as Infura to help them run and manage nodes on their behalf. Although convenient, this leaves a centralised bottleneck in the infrastructure where problems can occur. According to the project’s website, to solve this problem the Saito blockchain leverages a user-facing peer-to-peer network to complete transactions instead of relying on miners or stakers. This means that Saito can still host dApps and facilitate dApp development, but it removes the pain points that come with hosting a native node. Saito developed apps can run directly within a browser which means there is no need to use centralised plugins. The network currently offers support for the Polkadot ecosystem with plans to expand into other Web 3.0 blockchains. SAITO tokens are the utility token of the ecosystem and are used by accounts within the network to pay for data services.
Saito (SAITO) is the 523rd largest cryptocurrency in the world by market cap, valued at $36,816,704. The current price of Saito is $0.0238668867, which is -1.626% lower than yesterday. Prices have ranged between $0.0248972442 and $0.0233111916 over the past 24 hours. All prices are listed in Australian dollars (unless otherwise noted) and accurate as of May 24, 2022 10:05 UTC.
| Coin symbol | SAITO |
|---|---|
| Coin Marketcap | AUD$36,816,704 |
| Total SAITO supply | 3,000,000,000 |
| Circulating SAITO | 2,178,496,599 |
| Current price | AUD$0.0238668867 |
| All time high | AUD$0.2256 |
| All time high date | January 03, 2022 |
Historical prices compared with the price of $0.0238668867.
| 1 hour | 1.48% |
|---|---|
| 24 hours | -1.63% |
| 7 days | 4.01% |
| 14 days | -2.69% |
| 30 days | -47.62% |
|---|---|
| 60 days | -39.60% |
| 200 days | -57.20% |
| 1 year | 85.74% |
Disclaimer: Cryptocurrencies, including Saito, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of SAITO is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Saito or any other cryptocurrency discussed.
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