{"id":475,"date":"2018-09-28T06:44:05","date_gmt":"2018-09-28T06:44:05","guid":{"rendered":"http:\/\/org.saito.tech\/?p=475"},"modified":"2022-04-21T10:34:10","modified_gmt":"2022-04-21T10:34:10","slug":"saito-raises-2-million-usd-in-seed-round","status":"publish","type":"post","link":"https:\/\/saito.tech\/saito-raises-2-million-usd-in-seed-round\/","title":{"rendered":"Saito raises 2 million USD in seed round"},"content":{"rendered":"

Key institutional investors excited to back new blockchain capable of processing terabytes of data every\u00a0day<\/span><\/strong><\/em><\/p>\n

Note: this is a cross-post from our announcement on Medium<\/a>.<\/em><\/p>\n

Saito is a generational shift in blockchain technology. At its heart is a simple yet elegant solution that fixes the economic problems in all proof-of-work and proof-of-stake class networks. This makes Saito unlike any blockchain that exists to date. For most of our development, Saito has been distinct from other projects in having working code, an operating network and a genuinely revolutionary approach to scaling.<\/span><\/p>\n

In the Saito network, the nodes which move the most data into the blockchain are the most profitable. Saito\u2019s key innovations\u200a\u2014\u200atransient blockchain, proof-of-transactions (PoT), cascading-signed fees, and golden ticket\u200a\u2014\u200aprovide a way to accomplish this securely while preserving the openness of the network. The result is a mass-data blockchain that can run bandwidth-intensive applications, ranging from social networks and gaming to payment channels and more, all without the complex architecture of a virtual-machine layer.<\/span><\/p>\n

We are pleased to announce that we have now closed a 2 million USD raise, and proud that the participants in our seed round\u200a\u2014\u200aa closed offering and not an ICO\u200a\u2014\u200aalso constitute a shortlist of the most sophisticated blockchain investors in Asia, including INBlockchain, Neo Global Capital, Fengshui Capital, Fission Capital, BCH Angel Fund, among others.<\/span><\/p>\n

\n

\u201cSaito\u2019s innovative design addresses key challenges faced by other blockchains, and opens up the possibility of decentralized applications and value transfer at scale. We\u2019re excited to support the team and community as they develop this new network.\u201d
\n<\/span><\/p>\n

 <\/p>\n

\u2014 Li Xiaolai, Founder, INBlockchain<\/span><\/p>\n<\/blockquote>\n

We\u2019re extremely thankful to all our investors, community members and followers for their help and enthusiasm. With this seed funding we will be able to develop Saito further and faster, build out the project\u2019s core team and supporting roles, deepen our engagement with the community, and ensure we deliver on the promise of Saito\u2019s ideas and fundamentals.<\/span><\/p>\n

\n

\u201cNEO Global Capital is defined in part by the success of the projects we work alongside and, as a result, we are very particular about the caliber of projects we work with. Saito has a remarkable team that has inspired us with its determination to bring much-needed scalability solutions to the market. The impact of truly sophisticated and elegant scaling mechanisms will be a game changer for the blockchain industry, and we look forward to ultimately helping Saito make that possible.\u201d<\/span><\/p>\n

 <\/p>\n

\u2014 Roger Lim, Founding Partner, NEO Global Capital<\/span><\/p>\n<\/blockquote>\n

We\u2019re currently working on a refactor of the core code as we move towards making the Saito TESTNET fully operational. Join our\u00a0Telegram group<\/span><\/a>\u00a0for future announcements on this\u200a\u2014\u200aa place for all and any discussions about the project, and where our team is always on hand to answer your questions.<\/span><\/p>\n

\n

\u201cWe value passionate teams that can get things done, disruptive technologies that push the industry forward, and most importantly, solutions to actual existing problems, and the team at Saito has clearly demonstrated all of these values. We\u2019re excited, proud and honoured to be alongside Saito on this journey.\u201d<\/span><\/p>\n

 <\/p>\n

\u2014 Fengshui Capital<\/span><\/p>\n<\/blockquote>\n

Developers can check out our dedicated channel\u00a0here<\/span><\/a>.<\/span><\/p>\n

We\u2019re also hiring so please do reach out to us via info@saito.tech if interested (especially if you\u2019re a network engineer looking to join the project of a lifetime as we move on to the next phase).<\/span><\/p>\n

We\u2019re excited to build a blockchain that achieves a previously unimaginable level of mass scaling\u200a\u2014\u200aall while maintaining openness and security.<\/span><\/p>\n

We hope you are too.<\/span><\/p>\n

\n

\u201cFission Capital believes in pushing boundaries, elegant design and simple solutions. Saito\u2019s revolutionary blockchain provides a solution to scale and power to create a better protocol for the future. We have a vision of the future and Saito makes this vision exciting.\u201d<\/span><\/p>\n

 <\/p>\n

\u2014 Fission Capital<\/span><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Key institutional investors excited to back new blockchain capable of processing terabytes of data every\u00a0day Note: this is a cross-post from our announcement on Medium. Saito is a generational shift in blockchain technology. At its heart is a simple yet elegant solution that fixes the economic problems in all proof-of-work and proof-of-stake class networks. This makes Saito unlike any blockchain that exists to date. For most of our development, Saito has been distinct from other projects in having working code, an operating network and a genuinely revolutionary approach to scaling. In the Saito network, the nodes which move the most […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_import_markdown_pro_load_document_selector":0,"_import_markdown_pro_submit_text_textarea":"","footnotes":""},"categories":[21,36],"tags":[],"class_list":["post-475","post","type-post","status-publish","format-standard","hentry","category-token","category-update"],"yoast_head":"\nSaito raises 2 million USD in seed round - Saito<\/title>\n<meta name=\"description\" content=\"Saito is a generational shift in blockchain technology. 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