Saito Consensus was invented in the Spring of 2017. Early development focused on assembling a javascript prototype to confirm that the mechanism could be technically implemented. Work building the network began in earnest in 2018, with an initial token sale following in 2021 to raise funding for further development.
The network is currently in a reasonably complete technical state, with a user-facing javascript client, a scalable full-node coded in the Rust programming language, and a suite of useful applications that leverage distributed encryption algorithms to power everything from games to social media and communication apps.
Saito has a nucleus of real usage with a community involved in playing games, using the RedSquare social media platform and communicating with each other using our network's suite of open source PKI applications. We will continue to support these applications while onboarding more users.
In the coming year, with token persistence a reality and ATR payouts scaling with total network fee-throughput, core development will focus on finalizing consensus variables such the burn-fee algorithm, block time and advanced features like congestion algorithms in real-world network conditions. We expect updates and software patches to be applied to the rotating blockchain as is routinely done in other networks.
As development work on the applications-front shifts to open source community devs, core development will shift to focus on advanced features like L2 EVMs and base-layer scripting support. The project retains a leadership role in technical development and advancing the protocol but cedes more management responsibilities to the community for stewardship of the ecosystem.
We expect to work with the community on plans to handle any incentive mechanism surrounding the issuance of any outstanding tokens, or the burning of these tokens or their release into the ATR mechanism in a Bitcoin-style 21-year programmatic release.