SKALE Network is an open source Web3 platform designed to bring speed and configurability to blockchains. SKALE Network is a project of the NODE Foundation (Lichtenstein Foundation) to promote the development of Web3 technologies and make the decentralized web more friendly and accessible to users, developers, validators and end users.
NODE Foundation partners with SKALE Labs, other top entities and investors around the world to advance the growth of SKALE Network.
SKALE Labs is the core team involved in creating technical specifications, creating code, and increasing usage and awareness of the network. SKALE Labs is headquartered in San Francisco, California.
Project introduction:
SKALE Network is an elastic blockchain network designed to optimize the scalability of decentralized applications and improve user experience.
SKALE Network is a Delegated Proof of Stake (DPoS) network that utilizes an Asynchronous Binary Byzantine Agreement (ABBA) to achieve network consensus.
SKL is SKALE Network's ERC-777 native functional token and has the following use cases:
Network security and token collateral: SKL token holders can Coins are staked and delegated to validators. These validator nodes make SKALE Network work by validating blocks, executing smart contracts, and securing the network.
Payment: Developers can use SKL tokens to purchase subscription access to the private blockchain underlying layer (S-chain).
Governance: SKL tokens will be used for on-chain governance voting to regulate all economic parameters of SKALE Network.
SKALE Network is designed to enable developers to run Ethereum applications with high performance and low cost. The project also provides a variety of dedicated blockchain bottom layers that provide each application with a unique blockchain bottom layer to allow it to operate without sacrificing the decentralization or security of the application Seamless connection to the Ethereum mainnet.
