In less than two years, Saga has successfully attracted 350 projects, 80% of which are focused on the gaming industry. This modular Layer1 platform tailored for the gaming industry has recently become an innovative player in the crypto space. This article will take a deep dive into what makes Saga unique and its important position in blockchain technology.
What is Saga?
Saga is a modular blockchain platform designed specifically for the gaming industry. It simplifies the blockchain deployment process by providing Chainlet, a dedicated blockchain. Developers can launch Chainlet as easily as deploying smart contracts, saving time and reducing complexity. The Saga protocol runs on a fully decentralized proof-of-stake model, ensuring that each Chainlet maintains the same high security standards as the Saga mainnet and uses the same validator set.
Saga's architecture
Saga's core architecture includes Chainlets, security chains, and platform chains.
Chainlets: Chainlets are automated, high-performance blockchains that are interoperable and customizable within the Saga ecosystem. These Chainlets are protected by the Saga blockchain and are verified through a shared security model called "Interchain Security" and enjoy solid protection. This model enables Saga to provide security guarantees for its Chainlets, ensuring that they have the same level of security and decentralization as Saga itself.
Security Chain: The Security Chain is the main source of security for the Saga protocol and uses the Cosmos-SDK. It is responsible for the minting, staking, and potential penalties for validator misbehavior of $SAGA tokens.
Platform Chain: The Platform Chain is also built on the Cosmos-SDK and is a place for developers to launch and manage their Chainlets. It brings together multiple security sources, including the Security Chain, and extends security to Chainlets through a process called Cross-Chain Verification (CCV), while notifying any reported misbehavior back to the Security Chain for potential penalties.
Saga's influence
Saga's influence is evident in its rapid growth. In less than two years, it has successfully attracted 350 projects, 80% of which are focused on the gaming industry. Strategic partnerships with industry leaders such as Polygon, Avalanche, and Celestia further highlight Saga’s ability to effectively scale infrastructure and support a wide range of blockchain applications.
Partnerships and Alliances
Saga has partnered with multiple leading blockchain protocols to achieve expansion with its Chainlets technology:
XPLA and Com2uS: In November 2022, Saga partnered with XPLA to provide scalable infrastructure for game-specific chains.
Celestia Labs: In January 2023, Saga began implementing sequencers as a service and partnered with Celestia to scale convolutional architectures.
Polygon: In February 2023, the partnership automated super networks to facilitate the deployment of application chain solutions.
Avalanche: In April 2023, Saga automated the instantiation of subnets to enhance the deployment of application chains.
Team and Innovator Program
The Saga team is led by a group of dynamic and experienced co-founders:
Jin Kwon: Co-founder and Chief Strategy Officer, former Vice President of Ignite, holds a Master’s degree in Computer Science from the University of California, Berkeley.
Jacob McDorman: Co-founder and CTO, co-founded software consultancy Cellaflora, holds a bachelor's degree in mathematics from Purdue University.
Bogdan Alexandrescu: Technologist and entrepreneur, active in the Bitcoin Foundation and multiple blockchain projects.
Rebecca Liao: Co-founder and CEO, co-founder of Skuchain, a global trade blockchain. Under her leadership, Skuchain has an annual transaction volume of over $5 billion and was named a top blockchain company by the World Trade Organization in 2020.
As of April 26, 2024, the Saga Innovator Program includes 350 projects, 80% of which focus on the gaming sector, 10% on NFTs and entertainment, and the remaining 10% on decentralized finance (DeFi). These projects leverage Saga's technological innovations and expand its blockchain applications.
Saga Origins
Launch in March 2024, Saga Origins is committed to bringing Web3 games to market. The department actively supports game developers at every stage from initial concept to final release. To promote success, Saga Origins provides a range of services including working with influencers to increase visibility, providing financial support for user acquisition, and extensive promotion support to maximize impact and engagement.
Financing History
In October 2021, the company successfully raised $2 million with investment from Ignite. The following year, on May 19, 2022, it successfully raised an additional $6.5 million in a seed financing round, with investors including Hypersphere Ventures, Maven 11 Capital, SamsungNext, Merit Circle, Polygon, etc.
Conclusion:Saga provides an efficient, decentralized and secure solution for the gaming industry through its innovative modular blockchain architecture and Chainlets technology. Its rapid growth and cooperation with multiple industry leaders further prove its important position in blockchain technology. Saga not only simplifies the deployment process of blockchain, but also provides developers with great flexibility and security. In the future, with the participation of more projects, Saga is expected to continue to lead the trend in blockchain technology.