What Is SKALE Network (SKL)?

SKALE is a blockchain network designed to power decentralized applications (dApps) with zero gas fees, high performance, and limitless scalability. SKALE operates as a network of EVM compatible, interconnected Layer 1 blockchains, referred to as SKALE Chains. These individual chains can be specific to a single dApp or shared amongst similar dApps. SKALE chains are modular and offer pooled security, dynamic scalability, and tailored resource allocation, enabling developers to deploy dApps with unmatched flexibility and user experience.

Who Are the Founders of SKALE Network?

SKALE Network was founded by Jack O’Holleran and Stan Kladko, both of whom have vast experience across the software industry.

O’Holleran — the co-founder and CEO of SKALE — is a technology entrepreneur specializing in blockchain and decentralized systems. He continues to hold a strategic advisor role at Aktana, the life sciences company he co-founded in 2008.

According to his LinkedIn profile, O’Holleran began the early stages of his career as an account executive at Good Technology. He spent two years there before joining Motorola’s business development and product strategy division.

Kladko spent many years obtaining a Ph.D. in physics prior to co-founding SKALE and worked for 16 years as a technology executive in San Francisco’s Silicon Valley.

He has co-founded several other companies, including Galactic Exchange and Cloudessa.

What Makes SKALE Network Unique?

SKALE is purpose-built to support high-performance decentralized applications that demand seamless, invisible blockchain experiences. Its unique architecture, offering zero gas fees, instant finality, and high throughput, makes it ideal for applications in gaming, AI, and other computationally intensive sectors.

How Many SKALE (SKL) Coins Are There in Circulation?

The total supply of SKL tokens at the launch of the SKALE Network was 4.1 billion. When it comes to the maximum supply, this figure is fixed at 7 billion tokens.

According to a white paper released by the SKALE Network in July 2020, one-third (33%) was allocated to validator rewards, 28.1% was earmarked for delegators, 16% was allocated to the broader founding team, 10% to the SKALE Foundation, 7.7% to the protocol development fund, 4% to the core team pool and 1.3% to the ecosystem fund.

How Is the SKALE Network Secured?

SKALE is a multichain network made of many chains that pool security. SKALE Chains don't share performance but share security across validator sets. Each validator node can run concurrently on 8 chains. Nodes are randomly assigned and rotated to create optimal collusion resistance.

The SKALE Network uses proof-of-stake (PoS) to ensure the network is secured.

Where Can You Buy SKALE (SKL)?

There are several exchanges where one can buy SKL tokens. The first ones to list SKL include Huobi, Binance and Uniswap. Read more about how to convert fiat currencies to crypto here.