SKALE Network (SKL)
A Layer-2 Network for Application Scalability on Ethereum.- SKALE Network is a web of elastic blockchains built to optimize scalability and improve user-experience for decentralized applications.
- SKALE Network is a Delegated Proof-of-Stake (DPoS) network, utilizing a type of Asynchronous Binary Byzantine Agreement (ABBA) consensus mechanism.
- SKL is SKALE Network’s ERC-777 native utility token and has the following use cases:
- Network Security and Staking: SKL token holders can stake and delegate SKL tokens to validators who run nodes that make the SKALE Network function by validating blocks, executing smart contracts, and securing the network.
- Payments: developers can purchase subscription access to elastic blockchains (S-chains) using SKL tokens.
- Governance: SKL tokens will be used for on-chain voting, which controls all economic parameters of the SKALE Network.
- SKALE Network aims to enable developers to run Ethereum applications with high performance and low costs. The project also provides application-specific blockchains, which give each application its own blockchain that can connect seamlessly to the Ethereum Mainnet without sacrificing decentralization or security.
- SKALE Network has raised ~22.04MM USD from three rounds of private token sales and one round of public token sales. 47.44% of the total SKL supply has been sold at 0.0034 USD / SKL, 0.0099 - 0.0125 USD / SKL, 0.0152 USD / SKL and 0.03 USD / SKL.