SKALE

What is SKL and how Does It Work?

Skale, a decentralized blockchain network, employs Elastic Sidechains technology to enhance scalability in decentralized applications (dApps). This network was devised by Jack O'Holleran and Stan Kladko, addressing scalability burdens encountered by multiple blockchains. Skale possesses the ability to generate and apply unique elastic sidechains. These sidechains operate as parallel chains in alignment with the Skale mainnet, providing optimal throughput and minimal latency. This network gives developers the convenience of tailoring chains to meet precise prerequisites. Developers are enabled to establish the consensus mechanism, block time, and transaction fees. Proof-of-Stake (PoS) consensus mechanism is in place within this network, empowering token holders to assign their tokens to validators. The SKL token, associated exclusively with Skale, allows staking functions and stands as an integral part of the network's governance process. Additionally, SKL serves as gas fees inside the network. Collaborations with entities such as ConsenSys, Chainlink, and an Ethereum wallet extension mark Skale's journey. A flourishing community is consistently contributing to the advancement of Skale, employing valuable online resources, like an active blog and a variety of enlightening webinars and virtual events.

The Vision and Mission Behind SKL

SKL, otherwise known as Skale, is a blockchain network compatible with Ethereum that collaborates towards utilizing blockchain further afield. It sets its sights on scalability and maintains functionality with its consensus algorithm, the Asynchronous Binary Byzantine Agreement (ABBA). People participate in this network via staking SKL tokens within a shared security model. SKL's functionality allows networks to utilize full-state smart contracts, conduct Rollups, or operate as decentralised storage systems. It puts an emphasis on interchain messaging alongside other Ethereum Layer 1 and Layer 2 systems, enabling continuous dialogue between numerous networks. SKL's interconnected approach presents it as a potential way to increase blockchain engagement.

How to Buy and Store SKL?

To purchase SKL, Flooz.xyz offers a streamlined process. Traders can purchase SKL via Flooz.xyz, a one-stop solution that provides a smooth checkout without the need to own a wallet. Tap tap go! All payment methods are supported. Using Flooz self-custodial web wallet, you ensure seamless SKL transactions, including storing, sending, and receiving tokens. You can create a self-custodial wallet directly on Flooz using your email, Google, and Apple ID in a matter of seconds. This also ensures that you have access over your funds at all times, thanks to the power of cryptography. Flooz.xyz aggregates more than 50+ providers to ensure you with the fastest and cheapest payment routes for your trades. This seamless and optimized trading experience has captivated over 85,000 active traders on Flooz.xyz.

SKL Metrics:

• Current price: $0.0512

• Market cap: $265.37 M

• All-time high: being indexed (being indexed)

• All-time low: being indexed (being indexed)

• Daily trading volume: $9.03 k