A non-profit organization, PraSaga™ developed the SagaTech Stack architecture and SagaChain™, a layer-one blockchain designed to address the critical challenges existing blockchain networks face. PraSaga™ will lead a newly formed DTC FinTech Tiger Team.
The DTC FinTech Tiger Team will consist of members from the Consortium representing some of the most vital industries in the world. The member companies are leaders in their respective spaces and work together to solve industry-wide problems. As a first step, the DTC FinTech Tiger team will work on developing open standards requirements benefiting every major industry.
“We are thrilled to be a part of the DTC and to lead the DTC FinTech Tiger Team,” said PraSaga Foundation CEO Michael Holdmann. “The Tiger Team will use PraSaga’s SagaTech Stack architecture to define process flows and create application-specific use cases for implementation across industries for real-world testing.”
Read the full article on Yahoo Finance - https://finance.yahoo.com/news/digital-twin-consortium-welcomes-prasaga-140000463.html
1.Evolving Beyond Smart Contracts
Smart contracts were a great innovation that has allowed for an explosion of tokens and projects, enhancing adoption of web3 technologies. We believe however that their time is coming to an end as more and more projects realise just how limiting that construct is.
They have become a bottleneck for scalability and a root cause of many of the recent security concerns we see hitting headlines. In SagaChain they are no more. Apps make use of being able to call foundation classes that represent real world assets directly from the chain. Transactions are simple Python scripts that enable moving SagaCoin or our new Smart Assets between accounts.
Now, we will see true scalability the likes not seen before, and an account/asset model that enables enterprises to adopt and map their processes as digital twins on the chain. That’s real utility.
2.Solving the Trilemma
The classic trilemma of scalability, security and decentralization had not yet been solved, that is, until SagaChain entered the scene.
We have removed the blockers to scalability through removing the reliance on smart contracts, and through our native sharded architecture with dynamic resource allocation. SagaChain can scale-up to meet any challenge.
We didn’t compromise on security either with our hybrid consensus model users can take advantage of the scalability and speed of a PoS chain, yet rely on the hash power security of a PoW chain, best of both worlds and still more power efficient than a standard PoW approach.
Finally decentralisation: the nodes on the SagaChain network are wholly operated by independent third parties. PraSaga has no oversight on the operation of nodes and when launched has no more vote on changes to the chain than any other node operator, one account one vote. That right there is the trilemma solved.
3.Stabilised Purchasing Power
Web 3 is a volatile market, right? What if we said it didn’t have to be? And no, that doesn’t mean CDBC either, there is another path.
We have designed our monetary policy to deliver stabilised purchasing power purely based upon internal metrics of the running chain. The network will dynamically calculate metrics such as GDP, CPI and RPI, based upon the transactions occurring on the network and the price and inflation are controlled to these metrics, in much the same way as any traditional currency.
It has called for a fresh approach to coin supply but delivers something that will stand the test of time and gives users the stable purchasing economics that we want, oh and some good stable gains along the way too!
Join the blockchain of the future, right now -
https://www.prasaga.com/
PraSaga official Linktree: https://linktr.ee/prasaga
Code: https://code.prasaga.com/sagachain