SKALE Network (SKL)
| Market Cap | $108,729,310 |
|---|---|
| Trading Volume | $8,467,993 |
| Volume / Market Cap | 0.0779 |
| Total Supply | 5,447,166,667 SKL |
| Max Supply | 7,000,000,000 SKL |
SKALE Network is currently trading at $0.0262, after a price change of 1.75% in the last 24 hours.
Ranked as cryptocurrency #173 by capitalization today, SKL market cap is valued at $108,729,310. SKL trading volume reached $8,467,993 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on SKL coin price prediction page.
What is SKALE?
SKALE network is a multichain protocol that acts as an Ethereum Scaling chain. The platform’s operations are managed by smart contracts called SKALE Manager. Each SKALE Chain is secured through the proof-of-stake consensus algorithm. SKALE operates on an EVM client based on Ethereum’s Aleth client.
SKALE is interoperable with Ethereum and uses Interchain Messaging Agent to facilitate token transfer between the two networks. The interoperable transactions are secured using BLS Threshold cryptography. SKALE applies Ethereum’s technology with features like the SKALE Chain creation, delegation, and validator registration executed on Ethereum’s mainnet.
SKL is a utility token native to SKALE used to deploy applications and secure the network. Developers seeking to use the protocol can buy SKALES S-Chains using the token to operate their applications. SKL can be locked on the network by stakers and delegators in return for token rewards.
There are 3.25 billion SKL tokens from a total supply of 4,276,664,349 and a hard cap of 7 billion. The initial token supply was 4,140,000,000, with 15.4% set aside for pre-mined rewards and airdrops. The founding team and investors got an allocation of 37.4% and 47.2%, respectively.
SKALE network was unveiled in 2018 by Jack O’Holleran and Stan Kladko.