SKALE SKL Price

SKALE Network, launched in 2018, stands out as a groundbreaking "elastic" blockchain network, specifically engineered to enhance the scalability of Web3 applications. This open-source, decentralized network uniquely positions itself as a layer-2 scaling solution for the Ethereum blockchain, addressing some of the most pressing challenges faced by developers in the Ethereum ecosystem.

At the heart of SKALE's innovation are its application-specific blockchains, termed as "dynamic shards" or SKALE chains. These operate above the Ethereum blockchain, offering developers private, Ethereum-compatible platforms for smart contract execution. What sets SKALE apart is its ability to deliver faster block times and handle a greater number of transactions per second, significantly surpassing Ethereum's current capacity. This capability allows full-state smart contracts, decentralized storage, and even machine learning algorithms, all within the Ethereum Virtual Machine (EVM) framework.

The SKALE ecosystem is not just about high performance; it's also designed with economic efficiency in mind. By offering elastic sidechains, SKALE enables a substantial reduction in Ethereum's gas fees, a bottleneck for many developers and users on the mainnet. These sidechains, which are customizable and interoperable, allow for the creation of decentralized applications (dApps) such as DeFi platforms, games, NFT marketplaces, and decentralized streaming services, all with minimal delay and high throughput.

What is unique about SKALE (SKL)?

SKALE Network's uniqueness lies in its elastic sidechains, offering reduced operational costs for DApps during Ethereum network congestion, enabling faster transaction throughput, and providing scalable storage and testing environments without affecting Ethereum's mainnet​​.

Who are the founders of SKALE (SKL)?

SKALE Network was founded in 2018 by Jack O'Holleran, a technology entrepreneur with a background in blockchain and decentralized systems, and Stan Kladko, a tech executive with extensive experience in enterprise infrastructure technologies and cryptography​​​​.

Who are the backers/investors of SKALE (SKL)?

SKALE has many investors and backers such as Multicoin Capital, HashKey Capital, Galaxy, ConsenSys, Hashed Fund, Arrington XRP Capital, Boost VC, Hack VC, Blockchange Ventures, Winklevoss Capital, Aspect Ventures among others.

Where can I buy SKALE (SKL)?

You can buy SKALE (SKL) on Binance, MEXC, Gate.ioBitgetOKX cryptocurrency exchanges.