Saga x Cosmostation — Cosmostation Supports Saga in Horizontally Scaling Blockspace
Cosmostation partners with Saga to take parts in building the scalable and flexible blockchain infrastructure as a node validator, a block explorer provider, and a wallet provider for the Saga mainnet.
Saga — The Next 1,000 Chains in the Multiverse
Saga in a nutshell
The problem is that blockspace is scarce in monolithic blockchains where resources are shared across many individual projects.
The increasing popularity of smart contract applications on blockchains is leading to three primary issues: fluctuating and expensive transaction fees, network congestion, and limited interoperability due to the crowded blockspace shared by numerous applications.
Saga is solving blockchain’s fundamental problem with Saga ‘chainlets’. A chainlet is a dedicated modular blockchain containing just a single contract launched on the Saga mainnet. A chainlet is made of Cosmos SDK modules, connected with IBC, and secured by Saga shared security. With this approach, chainlets can host a wide range of smart contracts written in many different languages without making them compete for a limited blockspace.
In contrast to the problem of monolithic blockchains’ limited blockspace, deploying an application-specific chain on Cosmos used to have some difficulties, particularly in securing the network. This process involves recruiting validators, distributing staking tokens, and creating a token model for network protection. Saga addresses this issue by implementing shared security, allowing its chainlets to be protected by Saga mainnet validators. Saga adopts an approach akin to the Cosmos Hub’s first version of interchain staking, named Optimistic Coordination, to safeguard each chainlet.
Thanks to the shared security model, chainlets can achieve the economic security comparable to the Saga mainnet without bootstrapping a huge set of validators.
One last piece of puzzle that differentiates Saga from the other existing modular shared security models is IBC. Natively equipped with Cosmos Interblockchain Communication tech (IBC) out of the box, the Saga mainnet and chainlets are naturally highly interoperable with each other.
The Team behind Saga
Saga was established by experienced Web3 professionals who recognize that innovation flourishes when product teams can concentrate on creating new things.
Rebecca Liao — CEO
- Co-Founder, Advisor, and former COO of Skuchain, a leading blockchain for global trade, recognized by the World Economic Forum in 2019.
- Advisor to Sommelier Protocol, focusing on DAO design for governance, growth, and compliance.
- Former Director of Business Development and Head of Asia at Globality, Inc., a Softbank-backed AI procurement platform.
Bogdan Alexandrescu — V.P. of Engineering
- Partner at Blocktech Ventures, angel investor, and advisor.
- Co-founder and VP of Engineering at Saga.
- Former engineering leader at Apple & Twitter, focusing on Ads, Data Engineering, ML/AI, and infrastructure.
- Member of Bitcoin Foundation, Ethereum Foundation, BIC.
Jin Kwon — CSO
- Co-founded Saga to enhance accessibility of appchains for developers.
- Former executive at Tendermint, pivotal in launching the Cosmos Hub.
Backers of Saga
Saga has raised a total of $13.5M USD from 25 venture capitals, DAOs, blockchain corporations, and angel investors in total of three rounds. Saga first received 2M USD from Ignite (formerly Tendermint) in 2021. Then Saga raised 6.5M USD investments in the seed round from 19 backers including Maven 11, Samsung Next, Polygon Studios, and LongHash Ventures. The last round was led by Placeholder Ventures in November, 2023, raising $5M USD.
Saga x Cosmostation
Genesis Validator
Cosmostation supports the Saga mainnet as a genesis validator. As a Saga validator, Cosmostation contributes to securing the network by actively participating in the Tendermint BFT consensus behalf of the delegators who stake $SAGA coin with Cosmostation.
In addition to securing the Saga mainnet through the standard Tendermint BFT mechanism, Cosmostation is also responsible for provisioning the Saga chainlets as part of the Saga shared security. Saga validators automatically manage thousands of independent binaries on the servers and keep up with resources needed to maintain them.
Saga validators also relay IBC messages between any two pairs of chainlets to help make the IBC user experience as seamless as possible.
Saga Block Explorer — Mintscan
Mintscan is the most widely used standard blockchain explorer for blockchains built with Cosmos-SDK tech. And it goes beyond the role of a block explorer by providing staking and voting functionalities with wallet connection. Saga users can search transactions, stake $SAGA, vote on governance proposals, view accounts, and check onchain portfolios via Mintscan. Mintscan is built by Cosmostation and it’s been the default block explorer for 60+ block explorers since 2019.
Cosmostation Wallet Support for Saga Mainnet
Cosmostation’s supports Saga with our non-custodial mobile and Chrome extension wallet as well. Cosmostation Wallet provides both mobile and desktop Chrome extension wallet for $SAGA mainnet users. Using Mintscan Wallet, $SAGA holders can stake their assets, vote on governence proposals, claim staking rewards, and swap tokens accross 70+ supported chains. With the recent integration with Mintscan Wallet, Cosmostation extnesion wallet users can check multichain portfolio, create onchain governance proposals, and send tokens to multiple address at once as well.
About Cosmostation
Cosmostation empowers blockchain businesses by providing secure solutions. Securing blockchain networks requires continuous operational oversight. Since 2018, Cosmostation has been providing a suite of robust solutions that enables businesses to contribute to blockchain network security and visibility without the overhead of managing infrastructure.
Links
Mintscan | Extension | Android | iOS | Official | Github | Twitter | Telegram
