The current price of SKALE is $0.020534. Over the last 24 hours, SKALE has increased by +3.06%. It currently has a circulating supply of 5,775,852,671 SKL and a maximum supply of 7,000,000,000 SKL, giving it a fully diluted market cap of $118.64M. At present, the SKALE coin holds the 151 position in market cap rankings. The SKALE/USD price is updated in real-time.
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SKALE is an open-source, customizable blockchain network that equips users and developers with the tools to create Ethereum-based decentralized applications (dApps) with high throughput and performance. SKL is the native ERC-777 standard token of the SKALE Network.
SKALE aims to reduce transaction fees and enable network participants with high throughput by introducing a scalable Web3 sidechain called SKALE chain. The architecture of SKALE is supported by SKL token holders and validators that run nodes.
The SKALE network follows a Proof of Stake (PoS) consensus mechanism that is leaderless and asynchronous. SKALE aims to solve the Ethereum scalability issue with a bridge called Interchain Messaging Agent (IMA), which enables transferring of tokens and messages. These transfers are secured using BLS threshold cryptography.
It resolves technical problems and boosts any application's performance by creating an elastic sidechain that is EVM-compatible and interoperable with Ethereum. SKALE manager is responsible for creating these sidechains. It exists on Ethereum mainnet and handles all operations, such as node creation, withdrawals, and bounties.
The SKALE network also supports Solidity, enabling developers to use the same tools and token standards on the Ethereum mainnet. They can even leverage the Web3 storage layer of the SKALE network to directly store files on the elastic chain. Considering the SKALE network can handle over 2,000 transactions per second, and Ethereum can only execute approximately 10 to 45, this project can be a prominent execution layer for many blockchains moving forward.
To add more utility value to the network, the team at SKALE labs plans to add two main extensions storage and inter-chain communication. These will enhance storage capabilities and message relays between multiple sidechains, respectively.
SKL price and tokenomics
SKL is the native multi-purpose token of the SKALE network. It has a maximum supply of 7 billion. At the time of the network launch, 4.14 billion SKL tokens were released. SKL tokens were publicly sold on ConsenSys Activate, raising over $5 million with over 3,700 purchasers. The SKL price was $0.03, and more than 167 million tokens were purchased.
More than a third of the total supply of SKL tokens went to the validator community at an annual issuance rate of 9.3 percent. An additional 25 percent of tokens were given to network supporters, including validators, delegators, and users of other sidechains. A further 20 percent was distributed to employees and the founding team, with a total vesting period of over 5 to 6 years.
About the founders
On Jan 1, 2018, SKALE was founded by CEO Jack O'Holleran and CTO Stan Kladko. Before starting SKALE, O'Holleran spent over a decade building Aktana, a company dedicated to helping life science companies with their AI-enabled Contextual Intelligence Engine.
Kladko has over 18 years of experience in cryptography and holds a Ph.D. in Physics. At Stanford University, he founded a crypto startup called Ingrian Networks, which SafeNet later acquired.
SKALE has raised a total funding amount of $22.5 million over six rounds. The initial coin offering helped raise $5 million; the rest came from top investors from Korea, the US, and Europe. Arrington Capital, Multicoin Capital, and Blockchange Ventures are a few investors in funding rounds.
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Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 198 new posts about SKALE, driven by 116 contributors, and total online engagement reached 27K social interactions. The sentiment score for SKALE currently stands at 87%. Compared to all cryptocurrencies, post volume for SKALE currently ranks at 5463. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of SKALE.
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Posts
198
Contributors
116
Interactions
27,134
Sentiment
87%
Volume rank
#5463
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Posts
85
Interactions
9,756
Sentiment
96%
SKALE FAQ
What is SKALE?
SKALE is a blockchain network that is open-source and customizable. It provides users and developers with tools to build Ethereum-based decentralized applications (dApps) with high throughput and speed.
What are the benefits of holding SKL?
SKL is a multifaceted token that enables holders to participate in the network's operations as a validator, stake as a delegator, and create an "elastic sidechain" or "elastic blockchain" for a limited time as a developer. Validators can stake SKL to operate network nodes and earn rewards.
Where can I buy SKL?
Easily buy SKL tokens on the OKX TR cryptocurrency platform. OKX TR's spot trading terminal includes the SKL/USDT trading pair.
Currently, one SKALE is worth $0.020534. For answers and insight into SKALE's price action, you're in the right place. Explore the latest SKALE charts and trade responsibly with OKX TR.
What is cryptocurrency?
Cryptocurrencies, such as SKALE, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX TR and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as SKALE have been created as well.
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX TR does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX TR. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX TR does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX TR and its affiliates (“OKX TR”) are not in any way associated with the owner or operator of the TPW. You agree that OKX TR is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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