What is SKALE?

SKALE is a modular, high-performance blockchain network designed to enhance Ethereum’s scalability by providing fast, low-cost, and decentralized applications (DApps). Launched in 2020, SKALE enables developers to deploy customizable, application-specific blockchains without compromising security. The SKL token is used for staking, governance, and transaction fees within the ecosystem.

How is SKALE useful?

SKALE allows developers to create and scale DApps with near-instant finality and zero gas fees, making it ideal for gaming, DeFi, and NFT applications. It operates as an Ethereum-compatible Layer 2 solution, supporting fast transactions, improved user experiences, and cost-effective blockchain deployment. The SKL token is used for staking by validators, rewarding network participants, and enabling decentralized governance.

How does SKALE work?

SKALE uses a network of decentralized elastic sidechains, where each sidechain operates independently while being secured by Ethereum’s mainnet. The protocol employs a proof-of-stake (PoS) consensus model, where validators stake SKL tokens to participate in network security. Smart contract execution and transaction processing are offloaded from Ethereum, significantly reducing congestion and gas costs. The SKL token facilitates staking, transaction processing, and voting on protocol upgrades.

SKALE milestones

Launch of Elastic Sidechains: Enabled scalable, customizable blockchain networks for developers.

• Zero-Gas Transactions: Introduced a fee-less model for seamless DApp interactions.

• Ethereum Compatibility: Strengthened interoperability with Ethereum-based smart contracts.

• SKL Token Staking: Enhanced network security through validator incentives.

• Ecosystem Growth: Expanded adoption across gaming, DeFi, and enterprise blockchain applications.

SKALE continues to push the boundaries of blockchain scalability, offering fast, cost-efficient, and developer-friendly infrastructure for Web3 applications.

Buy SKALE (SKL) on BITmarkets.