What is SKALE?

SKALE (SKL) is a modular blockchain network that seeks to enhance the scalability of Ethereum. It is designed to run an unlimited number of fast, on-demand, pooled-security blockchains with the intention of eliminating gas fees for end users. These individual chains, known as SKALE chains, can be specific to a decentralized application (dApp) or shared. SKALE's architecture aims to address Ethereum's scalability issues and strives to eliminate gas fees for end users, which could be an advantage when the Ethereum network is busy. The network's capacity aims to grow as new nodes join, potentially allowing it to handle a large number of transactions per second. SKALE is a decentralized, open-source, and community-owned project.

How does SKALE work?

SKALE operates as a multichain network composed of many chains that pool security. While these chains do not share performance, they do share security across validator sets. Each validator node can run concurrently on eight chains, and nodes are randomly assigned and rotated to optimize collusion resistance. SKALE uses a proof-of-stake (PoS) consensus model to secure the network. Developers can deploy their own interoperable Ethereum Virtual Machine (EVM) blockchain on SKALE without sacrificing security or decentralization. The network's containerized subnode structure aims to provide high performance and flexibility, potentially offering developers options similar to centralized systems.

What are the potential use cases for SKALE?

SKALE aims to support a wide range of Ethereum-based applications and decentralized solutions. It seeks to scale transaction throughput, transactions per second, latency, and connectivity to API-based wallets, among other things. SKALE aims to be effective for building and scaling Ethereum-based applications, which could range from games to decentralized finance to productivity and media applications. It also enables dApps to store files locally on-chain, opening up new Web3 use cases. Full websites, applications, and AI/ML technology can integrate directly on-chain, and NFT images can be stored on-chain rather than in centralized cloud hosting platforms.

What is the history of SKALE?

SKALE Network was founded by Jack O’Holleran and Stan Kladko, both of whom have extensive experience in the software industry. O’Holleran, the co-founder and CEO of SKALE, is a technology entrepreneur specializing in blockchain and decentralized systems. Kladko, on the other hand, spent many years obtaining a Ph.D. in physics before co-founding SKALE and has co-founded several other companies. The total supply of SKL tokens at the launch of the SKALE Network was 4.1 billion, with a maximum supply fixed at 7 billion tokens.