Scalability is one of the primary challenges associated with blockchain networks, particularly public ones as data growth can quickly outstrip capacity.
The SKALE network is working in tandem with Ethereum to overcome these issues, offering developers an unlimited number of dapp-specific blockchains with no gas fees and instant finality.
Which blockchain challenge has Skale been helping the Ethereum ecosystem to overcome?
SKALE is an open source platform that facilitates developers in creating and running Ethereum-compatible application-specific blockchains. As both an execution and security layer, it provides scalable infrastructure connecting with Ethereum for use as elastic sidechains (elastic sidechains), file storage chains or any other sub chains.
The SKALE network was designed to bring scalability and fast finality to smart contracts on Ethereum. Dapps running Solidity contracts “thousands of times faster at a fraction of mainnet costs”, such as games and content streaming services have already taken advantage of it.
To achieve this, SKALE operates as an independent network of chains using validator nodes from Ethereum’s pool; these nodes only support apps joining SKALE. By employing such an architecture, apps are free from congestion and gas fees on ETH blockchain and can execute up to 2,000 transactions per second without incurring additional costs.
Established in 2017 by Konstantin ‘Stan’ Kladko and Jack O’Holleran, SKALE network is based in Santa Clara and San Francisco in California. O’Holleran has extensive technology entrepreneurship experience working on projects including machine learning and blockchain while Kladko holds a PhD in physics.
According to its website, SKALE is a modular blockchain network created specifically to add scalability to Ethereum. It features a highly scalable infrastructure with many useful capabilities – among them running multiple fast pooled-security Blockchains with zero gas fees for end users.
Developers looking to establish a SKALE chain can either rent an individual chain or join one of our community chains, in which case they will pay a monthly subscription fee to gain access to SKALE’s scalable infrastructure; these fees will then be shared among validators and delegators from within our SKALE community, making SKALE possible while still offering zero gas fees to end-users.
SKALE is an open-source platform used by financial institutions, global enterprises and Ethereum projects to build decentralized applications (dapps) that take advantage of its scalable infrastructure. It can help users create full-state smart contracts, decentralized storage solutions and rollup contracts within EVM deployment; additionally it features flexible governance structures with rewards based on each chain’s performance.
SKALE is an open-source platform that enables developers to construct blockchains that communicate with Ethereum without encountering its scaling issues and gas fees, offering high performance transaction verification solutions and supporting up to 2,000 transactions per second processing on each chain.
SKALE stands out with the use of Elastic Sidechains, independent blockchain systems that users and devs can customize according to their individual specifications. By employing Elastic Sidechains, developers can build and host Dapps without needing Ethereum platform or its API for support.
These sidechains utilize a pool of randomly chosen validators via a proof-of-stake (PoS) consensus algorithm, creating a decentralized and secure network for Dapps on Ethereum. SKALE employs randomness, rotation and incentive-based technologies to maintain security on its network.
To gain access to a SKALE chain, Dapp partners may submit an application via the SKALE Manager for network join. This request includes details regarding prospective nodes’ compatibility with the network; these will then be evaluated by its daemon, who may then send a demand request back to the Manager for consideration.
SKALE chains also feature numerous benefits designed to enhance developer and general public use, such as flexible sidechains, fast commit times, lower transaction costs and scalable capacity – among others.
Scalability in SKALE networks is achieved by breaking up their network into smaller “shards”, each chain processing more transactions simultaneously than would otherwise be possible, thus speeding up verification time and decreasing gas prices during times of congestion.
SKALE features many additional elements to aid its network’s growth and mass adoption, including: white-glove service for Dapp partners; ecosystem clean-up mechanism; token staking model that rewards validator nodes for their contributions towards network security; white-glove program dedicated to Dapp partners and an ecosystem cleanup mechanism.
SKALE’s scalability solutions allow users to test their Dapps on a sidechain before releasing them onto the mainnet, helping ensure any bugs or issues don’t impact primary chains. Furthermore, its flexible sidechains can be used by multiple users simultaneously for testing dapps simultaneously.
Security and Privacy on Blockchains The primary challenge presented by blockchain technology lies in protecting confidential data stored on public protocols without jeopardizing its integrity or compromising privacy. SKALE provides a solution by offering privacy-focused networks which leverage private information for use without risk to data integrity or security.
SKALE provides an “elastic sidechain environment” which can be configured to meet specific Dapp requirements on Ethereum network, enabling developers to build decentralized applications that scale with more transactions per second and shorter block times.
SKALE chains are application-specific smart contract platforms that sit atop Ethereum blockchains. They enable smart contracts to run full state contracts and support decentralized storage while processing rollup contracts and running machine learning algorithms via EVM (Ethereum Virtual Machine).
SKALE was designed to allow multiple Elastic Sidechains to operate concurrently, creating a highly elastic network which will ease congestion on Ethereum mainnet while increasing performance of smart contracts and Dapps. Each Elastic Sidechain has its own set of nodes randomly chosen every five minutes; these nodes act as networking virtual subnode verifier pools to prevent collusion among subnodes on different Elastic Sidechains.
Additionally, various features are provided to protect users’ data privacy, such as secure, private off-chain containers called Keeps that serve as storage space for private information and ensure it won’t be exposed on the public blockchain.
Decentralized governance models offer another key benefit, enabling various stakeholder groups to cast votes on functions, rewards and development decisions – either directly or by delegating their voting power to others.
Delegators or Staking Participants can also help protect the SKALE Network by delegating or staking tokens to SKALE Validators who run and maintain nodes that provide distributed computing power for the network, in exchange for which they receive rewards for their contribution to it.
Like other cryptocurrencies, SKALE prices fluctuate due to a variety of factors such as market sentiment, exchange flows, and economic factors – it is therefore vital that when making predictions of its price future all this information be taken into consideration.
The SKALE network was created to overcome security concerns associated with Ethereum blockchain technology. As an open source platform, it enables developers to build sidechains and decentralized applications (Dapps) that seamlessly communicate with Ethereum network. Furthermore, its Linear Scaling system speeds transactions faster than those possible on Ethereum mainnet, meaning smart contracts running on SKALE chains run much quicker.
SKALE was established in 2017 by Jack O’Holleran and Stan Kladko, two technology entrepreneurs with extensive experience. O’Holleran brings expertise in machine learning, blockchains and PhD physics; CTO Kladko holds his own PhD. Together they founded SKALE Network as a platform that would assist developers address scaling costs associated with Ethereum as well as maintain Dapps at an affordable cost.
To address this challenge, SKALE utilizes a network of nodes to form a pooled security model. Each SKALE chain is secured by validator nodes randomly allocated and rotated into its network on an non-deterministic schedule; these random assignments and rotation ensure each chain enjoys optimal protection while still harnessing resources from across its entirety.
By employing this pooled security model, SKALE can scale its network to support an unlimited number of independent chains without compromising speed or security. According to its team, SKALE’s network can handle up to 2,000 transactions per second – this enables smart contracts on SKALE Chains to execute thousands of times faster than they could on Ethereum mainnet without incurring high gas costs and other issues associated with scaling it.
Developers can build their Dapp on a SKALE chain and launch it without incurring gas fees or latency, saving both time and money by bypassing Ethereum mainnet costs for running and maintaining it.
As such, SKALE has become a go-to platform for Web 3.0 industry dapps such as crypto gaming and DeFi. Furthermore, new and existing projects alike can use SKALE to transition to faster, safer environments.