SKALE Network: A Flexible Cross-Chain Solution

SKALE Network, known by its token SKL, is listed on Coinbase Pro's comprehensive section. It's a flexible cross-chain network designed to help developers easily create highly configurable, fully decentralized blockchains that are highly compatible with Ethereum. These blockchains can achieve block times in milliseconds and handle over 2,000 transactions per second on each chain. Moreover, they support full-state smart contracts and can even run machine learning on the EVM.

Latest Price of SKL

$0.05 ≈ ￥0.39

Introduction to SKL's Private Sale and Issuance Price

The issuance price of SKL was $0.088657, with a private sale price of $0.035. It was issued on December 1, 2020. SKALE Network is a flexible blockchain network aimed at providing scalability, efficiency, and cost-effectiveness for decentralized applications, promising a lasting global impact on humanity through decentralized systems.

With the emergence of decentralized systems, secure and private peer-to-peer payments using digital currencies like Bitcoin, and peer-to-peer computing/storage using Ethereum, became possible. These systems, seen as solutions to issues like censorship, lock-in contracts, and regulation, quickly caught the attention of futurists and software enthusiasts.

However, as these networks grew in popularity, their inability to overcome scalability challenges cast doubt on their promise to serve as "world currency" or "world-class computers." In 2018, the first private implementations of systems like Plasma Cash faced several challenges: data invalidity, censorship by a single "operator," and asset fungibility. Additionally, these systems struggled to integrate with existing applications or provide tools for network participants (e.g., service authentication/discovery). These shortcomings limited the application scenarios of current Layer 2 solutions, which lacked standardization in additional network tools.

What is SKL Like?

SKALE Network is a flexible blockchain network designed to optimize the scalability of decentralized applications and improve user experience.

SKALE Network operates on a Delegated Proof of Stake (DPoS) network, utilizing an asynchronous binary Byzantine agreement protocol (ABBA) to achieve network consensus.

SKL is the native functional token of SKALE Network, following the ERC-777 standard, and has the following use cases:

Network Security and Token Staking: SKL token holders can stake their SKL tokens and delegate them to validator nodes. These validator nodes help run SKALE Network by validating blocks, executing smart contracts, and securing the network.

Payment: Developers can use SKL tokens to purchase subscription access to the underlying dedicated blockchain (S-chain).

Governance: SKL tokens will be used for on-chain governance voting to adjust all economic parameters of SKALE Network.

SKALE Network aims to enable developers to run Ethereum applications with high performance and low cost. The project also provides various dedicated blockchain underlays, offering each application a unique blockchain underlay, allowing seamless connection to the Ethereum mainnet without sacrificing the decentralization or security of the application.