Saga functions as a Layer 1 protocol that empowers developers to easily create independent chains, known as "Chainlets," which are VM-agnostic, parallelized, and can seamlessly interact with each other. These Chainlets offer limitless horizontal scalability for applications. Each Chainlet mirrors the Saga Mainnet, maintaining the same validator set and security framework.
Saga's goal is to facilitate the emergence of the next 1000 chains within the realms of gaming and entertainment, contributing to the expanding Saga Multiverse.
To explore Saga in greater detail, you can visit their website.
The widespread adoption of blockchain is on the horizon, necessitating a base infrastructure that is infinitely scalable, interoperable, and cost-efficient to support consumer-facing applications. By enabling developers to initiate dedicated blockspace that scales as needed, offers quick connectivity to other ecosystems, and is affordably priced, Saga delivers the comprehensive infrastructure developers require to construct the next wave of blockchain applications.
What Is the Current Circulation of SAGA Coins?
The SAGA Protocol launched its mainnet on April 9, 2024, with an initial minting of 1 billion SAGA tokens. The inflation of the token supply is guided by SAGA's tokenomics, aiming for an annual inflation rate of approximately 7%.
For more in-depth information about the SAGA token, click here.
Who Founded the SAGA Protocol?
Saga was founded by four individuals: Rebecca Liao (CEO), Jin Kwon (CSO), Jacob Mcdorman (CTO), and Bogdan Alexandrescu (VP of Engineering).
Rebecca Liao has an impressive history of launching successful ventures in both crypto and AI sectors (such as Skuchain & Globality) while also serving as a strategic policy advisor during presidential campaigns (Biden, Clinton). She is recognized for building innovative organizations by bridging different industries.
Jin Kwon has been a contributor to the Cosmos ecosystem since 2018, beginning his journey as Chief of Staff at Tendermint and eventually becoming VP of Corporate Development and managing director of Tendermint Ventures. With a versatile background in engineering, sales, marketing, and finance, Jin is passionate about the everyday integration of web3.
Jacob Mcdorman is an entrepreneur, product developer, and researcher who has been nurturing product ventures, both his own and others, for more than a decade as a startup founder, development studio owner, and advisor. He is both visionary and practical in his approach.
Bogdan Alexandrescu was previously an Engineering Leader at Apple Inc., where he focused on large-scale Distributed Computing, Machine Learning, AI, and infrastructure projects. He also served as Tech Lead for Twitter Ads and is a founding partner at Blocktech Ventures, a venture capital firm specializing in cutting-edge technology and blockchain. Additionally, he is a member of the Bitcoin Foundation.
What Sets the SAGA Protocol Apart?
Saga is unique as the only Layer 1 protocol to launch other Layer 1s, aiming to offer unlimited horizontal scalability for developers. Each Saga Chainlet includes the following characteristics:
- Infinite horizontal scalability: All Chainlets operate as parallelized appchain instances, enabling applications to dynamically scale up to their optimal performance and speed.
- Free transactions and low, predictable chain fees: Developers can select any monetization model, using their own token, fiat, stablecoin, or a token from another ecosystem. Chainlet fees are determined by a daily reverse auction among validators, fostering commodity-level pricing.
- Simplified automation: Developers can create a Chainlet with just a click using the Saga WebApp.
- Seamless interoperability and quick bridging: Users can easily transfer assets between Chainlets, Saga, and other ecosystems thanks to automatic interoperability and asynchronous composability. Fast finality of transactions also facilitates quick bridging to other chains.
- Fully customizable stack: Developers receive their own dedicated chains, offering maximum flexibility and customization of the environment.
The Saga Chainlet Realm automates blockspace beyond the Chainlet stack through the Saga Protocol. Saga Realms allow developers to launch customizable chains on Saga, each offering different features and services like technology stack, security source, and various obligations for those sources. Under the Realms framework, the standard Saga Chainlet becomes just one of many Realms to be supported soon, including ones for Saga’s partners like Ethereum (Ethlets), Polygon, Avalanche, Celestia, XPLA, and more.
How Is the SAGA Network Protected?
The Saga mainnet is a fully decentralized, proof-of-stake chain that relies on Tendermint consensus to ensure its security.
