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The live price of SKALE Network (SKL) today is 0.099345 USD, and with the current circulating supply of SKALE Network at 5,179,144,337 SKL, its market capitalization stands at 514,522,593 USD. In the last 24 hours SKL price has moved ? USD or 0.00% while ? USD worth of SKL has been traded on various exchanges. The current valuation of SKL puts it at #148 in cryptocurrency rankings based on market capitalization.
Learn more about the SKALE Network blockchain network and how it works or follow the price of its native cryptocurrency SKL and the broader market with our unique COIN360 cryptocurrency heatmap.
SKALE Network (SKL) is an Ethereum-compatible, configurable network of elastic sidechains designed to scale Ethereum dApps. It aims to provide developers with the ability to execute smart contracts at a high speed, with near-zero gas fees, without sacrificing security. SKL, the native token of the SKALE Network, is used for staking, governance, and network security.
SKALE Network employs a modified version of the Practical Byzantine Fault Tolerance (PBFT) consensus mechanism, which ensures high transaction speed and network security.
SKALE operates on an elastic sidechain network, which is a set of interconnected blockchains that run parallel to the main Ethereum blockchain. This unique architecture allows for high scalability and interoperability.
SKALE Network provides high scalability by processing transactions on its sidechains, thereby reducing congestion on the main Ethereum network.
SKALE ensures security through its consensus mechanism and the use of SKL tokens for staking, which incentivizes good behavior among network participants.
While SKALE Network is not primarily focused on privacy, it does offer some level of privacy by allowing transactions to be processed on separate sidechains.
SKALE Network is fully decentralized, with no central authority controlling the network. It is governed by its community of SKL token holders.
The SKALE Network project is spearheaded by N.O.D.E Foundation, a non-profit organization based in Liechtenstein. The governance of the network is carried out by SKL token holders who vote on various proposals.
SKALE Network can be used to scale any Ethereum dApp, making it potentially impactful in any industry that utilizes blockchain technology. It could particularly disrupt the gaming and DeFi industries by providing a solution to the scalability issues currently faced by these sectors.
SKL tokens can be purchased on various exchanges such as Binance, Coinbase Pro, and Huobi. They can be bought with either fiat currency or other cryptocurrencies, depending on the exchange.
SKL tokens can be stored in any wallet that supports ERC-20 tokens, such as MetaMask or Ledger.
SKALE Network has partnered with several notable organizations in the blockchain space, including ConsenSys, Multicoin Capital, and Winklevoss Capital.
The SKALE Network project has a detailed roadmap that includes plans for further network upgrades, community expansion, and increased interoperability with other blockchains.
Like any blockchain project, SKALE Network faces potential risks and challenges, including regulatory uncertainties, technological hurdles, and competition from other scaling solutions.
The SKALE Network has a vibrant community of developers, users, and investors who actively participate in network governance and development.
SKALE Network is committed to complying with all relevant regulations and has taken steps to ensure its token sale and network operations are legally compliant.
In conclusion, SKALE Network is a promising project that aims to solve the scalability issues faced by Ethereum dApps. With its unique technology, strong team, and active community, it has the potential to significantly impact the blockchain industry.
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