Ethereum-compatible scaling solution SKALE Network launches mainnet

Earlier today, the SKALE Network, an Ethereum-compatible layer-2 scaling protocol, launched its mainnet. SKALE features what it calls an “elastic” blockchain network that lets developers deploy configurable, independent chains capable of processing decentralized applications (dApps). Each SKALE chain (or “dynamic shard”) uses a randomly selected subset of the network’s validator pool to verify transactions and state changes.

Today’s launch is the first step in SKALE’s three-phase mainnet rollout.

• Phase 1: The current network is not feature-complete, as it does not support any staking rewards, token transfers, or public access to validator slots.
• Phase 2: The second phase, which will follow SKALE’s upcoming token sale, will unlock staking and new issuance while keeping restrictions on transfers and exchange listings.
• Phase 3: This final stage will take the training wheels off and open the network for its intended purpose.

Why it matters:

• SKALE now joins a growing list of Ethereum-compatible scaling solution to have launched within the last few months. This list includes OMG Network (which also recently partnered with Tether), Matic Network, Matter Lab’s zkSync, DeversiFi’s new DEX powered by Starkware tech, and Loopring’s zkRollup for token transfers, among others.

Source: Messari Portal

• SKALE, alongside these other scaling solutions, could not have come at a more necessary time. Ethereum transaction fees have mooned (not the good kind) over the last few months to their high levels since 2018, making it economically irrational to interact with most apps. The fee spike even prompted miners to start upping the network’s gas limit, which places a greater strain on node operators and client developer teams. Both scenarios are undesirable and unsustainable, respectively. Thus, the viable and immediately available solution is for current Ethereum apps to start integrating with layer-2 scaling infrastructure.

Let us know what you loved about the report, what may be missing, or share any other feedback by filling out this short form. All responses are subject to our Privacy Policy and Terms of Service.