Skale

SKALE Network aims to solve the technical scalability, cost issues, and user experience problems accompanying decentralized networks. The Elastic blockchain network is built on Ethereum. It has risen in popularity because it is one of the first networks to allow developers to provision highly configurable Layer 2 blockchains quickly. Skale chains provide the benefits of decentralization and configuration without sacrificing computation, storage, or security. Using Skale, developers can scale their Ethereum Decentralized Applications (Dapps) as application-specific blockchains. The staking of SKL, Skale’s native token, takes place on the Ethereum blockchain. By staking SKL, token holders participate in the network’s security and earn an additional passive yield in the form of newly minted SKL.