SKALE is a blockchain platform crafted for running decentralized applications (dApps) without charging gas fees. It boasts impressive performance and limitless scalability. SKALE functions as an interconnected array of EVM-compatible Layer 1 blockchains, called SKALE Chains. These chains can either be dedicated to a single dApp or shared among several dApps with similar needs. They are highly modular, offering pooled security, adaptable scalability, and customizable resource distribution. This empowers developers to launch dApps with exceptional flexibility and a superior user experience.
Who Are the Founders of SKALE Network?
The SKALE Network was established by Jack O'Holleran and Stan Kladko, both veterans of the software industry.
O'Holleran, who serves as SKALE's co-founder and CEO, is a tech entrepreneur with a focus on blockchain and decentralized systems. He also retains a strategic advisory position at Aktana, a life sciences company he co-founded back in 2008.
Based on his LinkedIn information, O'Holleran kicked off his professional journey as an account executive at Good Technology, staying there for two years before moving to Motorola's business development and product strategy team.
Before co-launching SKALE, Kladko earned a Ph.D. in physics and spent 16 years as a technology executive in the heart of Silicon Valley, San Francisco.
He has also played a role in starting other companies, such as Galactic Exchange and Cloudessa.
What Makes SKALE Network Unique?
SKALE is specifically built to cater to high-performance decentralized applications that require smooth, unobtrusive interactions with the blockchain. Its distinct design, featuring no gas fees, immediate finality, and high throughput, is particularly suited for sectors like gaming, artificial intelligence, and other computation-heavy fields.
How Many SKALE (SKL) Coins Are There in Circulation?
At the time of SKALE Network's launch, 4.1 billion SKL tokens were in circulation. The total cap for these tokens is set at 7 billion.
According to a white paper from July 2020 by the SKALE Network, 33% of the tokens were set aside for validator rewards, 28.1% for delegators, 16% for the founding team, 10% for the SKALE Foundation, 7.7% for the protocol development fund, 4% for the core team pool, and 1.3% for the ecosystem fund.
How Is the SKALE Network Secured?
SKALE functions as a multichain network composed of numerous chains that collaborate for security purposes. While these chains do not share performance, they collectively benefit from security through shared validator sets. A single validator node is capable of operating on eight chains simultaneously. Nodes are ascribed and rotated randomly to optimize collusion resistance.
The network relies on a proof-of-stake (PoS) mechanism to maintain its security.
Where Can You Buy SKALE (SKL)?
SKL tokens can be purchased on several exchanges. Among the first to list SKL are Huobi, Binance, and Uniswap. For more information on converting fiat currency to cryptocurrency, you can explore further resources.
