Market sees renewed interest in low carbon footprint proof of stake networks such as SKALE Networks, that offer high capacity and high throughput
SAN FRANCISCO — May 24, 2021 — SKALE Network, the Ethereum orchestrated multichain network built to help Ethereum Dapps scale to more users with lower costs and better performance, today announced a 50X increase in SKL token holders, growing to over 1,000,000 in just over 4 weeks.
Decentralized finance combined with a surge in interest in NFTs have pushed Ethereum usage to its limits. The result has been a dramatic increase in gas prices and a slowing of the user experience to barely acceptable levels. Recent market volatility and a refocused shift away from power hungry and environmentally unfriendly proof of work blockchains has created the perfect environment for proof of stake networks that offer high capacity and high throughput.
“Crypto markets have cycles with big ups and downs and the best teams, projects, and communities understand this and are always pushing towards mid and long term traction goals,” said Jack O’Holleran, co-founder and CEO SKALE Labs. “Market turbulence, maturation and increased consumer adoption like we’re seeing now draws mindshare from bad projects to ones that deliver tangible value. Over time the market will grow immensely, but the number of tokens and projects that have that share will shrink. In other words, the winners will win big and those winners will be the teams that produce, which I believe is a large part of what we’re seeing with the SKL Token.”
Crossing the chasm from innovation to mainstream adoption for blockchain applications has always been the holy grail. To get there, we need to remove the friction for all blockchain consumers. That means enhancements in wallet functionality, identification, mobile authentication, fiat on/off ramp, enterprise accessibility, evolved government perspectives/legislation, and more. SKALE Network offers developers and projects the foundation needed to enable those dapps and technologies and bring the power and vision of Ethereum to billions of users.
SKALE is a blockchain network of the future. It is not a single blockchain or a sidechain, but an Ethereum orchestrated multichain that can expand and contract according to the needs of a Dapp or project. These SKALE chains can execute sub ½ second block times, run very high tps per chain, run full-state smart contracts, support decentralized storage, execute Rollups, and machine learning in EVM. Someday there will be tens of thousands of SKALE Chains running invisibly and seamlessly creating an Internet of Blockchains.
For more information:
Dapp Developers interested in utilizing SKALE for a project, please apply to the SKALE innovator program.
Documentation on deploying a Dapp to SKALE, can be found in the Developer Portal
To learn more about the SKALE $SKL token, please visit our SKL Token page.
SKALE is an Ethereum native, multichain network that gives developers the ability to easily provision their own dapp specific, fully decentralized blockchains. These SKALE chains can execute sub ½ second block times, run very high tps per chain, run full-state smart contracts, support decentralized storage, execute Rollups, and machine learning in EVM. The SKALE Network is an open source project with many contributors including SKALE Labs, Inc. headquartered in San Francisco, CA. The SKALE Network’s supporters include Arrington Capital, Blockchange, ConsenSys Labs, Hashed, HashKey, Floodgate, Multicoin Capital, Recruit Holdings, Signia VP, and Winklevoss Capital. The SKALE Network is supported by many of the top validators in the world including 01NODE, Ankr, Anonstake, Audit One, Blockdaemon, Blockware, Chainflow, Chainode, Chorus One, Cypher Core, Dokia Capital, Figment Networks, FreshSkale, Hashed x DELIGHT, Hashquark, Staked, Stakin, Stake With Us, WolfEdge Capital, as well as Staking Facilities. SKALE Network utilizes the $SKL token which is listed on 25 exchanges globally, including Binance, Coinbase, FTX, Gemini, Huobi, OKEx and more. For more information please visit www.skale.network, @SkaleNetwork on Twitter, and @skaleofficial on telegram.