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SKALE is described as a flexible network designed to bring scalability to Ethereum. The decentralized project aims to increase transaction capacity, reduce latency, and enable payments to be made as cheaply as possible.
What is SKALE Network (SKL)?
The project’s website states it aims to allow people to create and run DApps in a “decentralized modular cloud built for the real world’s needs and configured according to requirements.”
According to SKALE, developers of this platform can run Solidity smart contracts “thousands of times faster at a fraction of the mainnet cost.” Among the projects already benefiting from its infrastructure are gaming and content streaming services.
SKALE Network is aimed at improving both the security and decentralization of Ethereum-based applications. Token holders in the SKALE Network are incentivized and rewarded for serving as validators, thereby helping to enhance the platform’s scalability and security.
SKALE Network was the first project to launch a token on the Activate platform by ConsenSys Codefi. Activate is designed to set new standards for the distribution of utility tokens and to ensure networks are fully operational as soon as the tokens are sold. This approach is hoped to help clean up the image of the first crypto coin offering sector, which has been prone to scams in recent years.
By launching a regulatory standard-compliant token, SKALE aims for widespread adoption of the token and to avoid any fraudulent activities.
According to statements, Ethereum is generally slow to verify and authorize transactions. Using the SKALE Network significantly increases Ethereum’s transaction verification speed, as SKALE can operate much faster and handle up to 2,000 transactions per second per chain.
Where to Buy SKL Coin?
SKL Coin can be quickly and securely purchased through Binance, the world’s largest cryptocurrency trading platform by transaction volume.
To buy SKL Coin, one must first sign up for Binance and then send fiat money. After sending a fiat currency like dollars, buying SKL can be done in the Tether (USDT), Bitcoin (BTC), and BUSD trading pairs.
Additionally, on Binance, users can place an order to buy at not only the market price but also at a lower price. For this, using the Limit tab and entering the amount you want to buy and the price you want to pay will be sufficient.
