SKALE

What is SKALE?

The SKALE Network represents a blockchain network that boasts high throughput, low latency, and configurability with Byzantine fault tolerance. It has been designed to seamlessly interact with Ethereum. Initially, the primary purpose of this network is to function as elastic sidechains for the Ethereum Blockchain, earning it the designation of an 'Elastic Sidechain Network.'

Within this network, sidechains are managed by a set of virtualized subnodes, which are chosen from a specific subset of nodes in the network. These sidechains operate on either all or a portion (multitenancy) of the computation and storage resources of each node. Each sidechain is highly adaptable, allowing users to customize aspects such as chain size, consensus protocol, virtual machine, parent blockchain, and additional security measures (e.g., frequency of virtualized subnode shuffling).

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Recent Video Interview

Main points of the interview:

• SKALE's approach to Layer 3 scalability, emphasizing modular blockchains and pooled security for decentralized applications.
• The importance of app chains in preventing congestion issues and enhancing user experience, particularly in web3 gaming.
• SKALE is recognized for its instant finality and high throughput.
• Future plans include launching the Levitation Protocol for zero-knowledge proofs and advancing on-chain governance.

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The SKALE Token

The SKALE token serves as a utility token for both work and usage within the network. To participate, nodes need to run the SKALE daemon and stake a set amount of SKALE tokens on the Ethereum mainnet through smart contracts known as the SKALE Manager. Once admitted, a node undergoes regular audits of uptime and latency by 24 randomly selected peer nodes, with results impacting the node's rewards.

This hybrid-use token allows holders to work as validators, stake as delegators, or access network resources by deploying and renting an Elastic Sidechain as a developer. Users pay SKALE tokens in a subscription model to rent resources like computation, storage, and bandwidth through Elastic Sidechains.

Validators stake SKALE tokens to operate nodes, earning fees and tokens through inflation. Delegators can delegate tokens to validators and receive rewards in return.

SKALE Used for Gaming

Why Choose SKALE for Gaming:

1. Zero Gas Fees: SKALE ensures transactions are fee-free. This allows for unlimited free mints, rapid onboarding of players, and the creation of seamless gaming experiences.
2. Game-Changing Speed: Recognized as the fastest blockchain in the industry, SKALE provides unmatched speed, low latency, and instant finality. This ensures that your players experience top-tier performance, making them eager to engage with your game.
3. Built-in Game Development Tools: SKALE offers native file storage, RNG (Random Number Generation), and UX/UI (User Experience/User Interface) tools. This facilitates quicker prototyping, faster development, and more iterations without incurring additional costs.
4. Configure to Your Needs: Whether you want to prototype your game or build your own chain, SKALE allows for customization. Choose between permissioned or permissionless setups to take control of your gaming environment.

SKALE Team Background

The SKALE Network operates under the governance of the SKALE DAO, managing its affairs in a fully open and decentralized manner. The network receives support from over 50 diverse entities, including companies, business entities, organizations, and DAOs, all contributing to the support, operation, and governance of SKALE. Additionally, a vibrant community of thousands of active members plays a crucial role in the project, contributing in various ways, including open-source code contributions.

SKALE is founded by Jack O'Holleran and Stan Kladko. Jack O'Holleran, a Silicon Valley entrepreneur deeply immersed in blockchain and decentralized systems, has a background in machine learning/AI technologies and a history of co-founding Aktana and IncentAlign. Stan Kladko, is a strong advocate for decentralization and cryptography, with a physics background. Co-founding Cloudessa and Galactic Exchange preceded his involvement in SKALE, where he actively contributes to the Ethereum Research Foundation.

SKALE enjoys many backers, the most notable of which are Acrew Capital, Arrington Capital, Blockchange, BoostVC, Cambrian, Canaan, ConsenSys Ventures, DTC Capital, Floodgate, Galaxy, Hack VC...

SKALE Project Development

SKALE, renowned for its gas-free gaming environment, has gained significant recognition in the GameFi Report 2023 by CoinGecko, underscoring its notable accomplishments and increasing influence in the sector. The report singles out SKALE as the most active chain for web3 gaming in November 2023 (followed by Wax, Ronin, and Hive), citing its 230,000 daily active addresses and emphasizing the advantage of its gasless blockchain, which reduces entry barriers for players.

This acknowledgment reflects SKALE's technological excellence and its dedication to transforming the gaming experience for both developers and players. Noteworthy games on SKALE, such as MotoDex, Gamifly, and Untitled Platformer, have amassed millions of transactions and hundreds of thousands of users, solidifying SKALE's position at the forefront of blockchain gaming. Despite being a key player in GameFi, only 42% of SKALE's total transactions are attributed to gaming, highlighting its versatility with diverse dapps and users. The future looks promising for SKALE, with a myriad of use cases spanning AI, DeFi, Social Networks, DePIN, and more.

SKALE Price Analysis

As of November 25 2024 SKALE has a marketcap of $319M. This is {{percentagefromath}} from its all time high of $1.22. In terms of its tokenomics, there's a total supply of 5.5B with 93% currently outstanding. Keep in mind SKALE has a fully diluted value of $342M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.