SKALE will participate in the Ethereum Community Conference in Brussels on July 9th. The session will focus on the future of AI and DePIN.
Refer to the official tweet by SKL:
Jun 21, 2024
SKL Info
SKALE is a high-throughput, gas-free network of interconnected, modular blockchains. Designed to enhance Ethereum projects, it provides a scalable environment for developers to shift their projects from Ethereum, achieving better performance.
Operating in tandem with Ethereum, SKALE leverages its unique consensus mechanism. It effectively marries Ethereum’s proof-of-stake (PoS) framework with SKALE’s pooled security model. This synergy results in secure, rapid transactions devoid of gas fees, positioning SKALE as an efficient platform, particularly for Web3 and gaming applications, enhancing Ethereum’s scalability for wider adoption.
SKL, the utility token of SKALE, is an ERC-777 token, maintaining backward compatibility with the ERC-20 standard. Offering token-level delegation, it enables non-custodial staking directly from user wallets, bypassing traditional smart contract locks. Within the network, SKL finds its use in payments, especially for SKALE chain subscriptions. Token holders, be it as validators or delegators, can stake SKL to earn rewards. Validators, by running nodes, ensure the network’s security, transaction validation, and smart contract execution, earning SKL in return. Delegators, while playing a passive role, earn a fraction of these rewards.
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