Skale Network (SKL) is a network of scalable and interconnected blockchains that allows developers to achieve high throughput and zero gas fees by moving their projects from Ethereum. Founded in 2018 by Jack O’Holleran and Stan Kladko, Skale Network supports the development of NFTs, games, and decentralized applications with EVM-compatible blockchains. It integrates with Ethereum, using its own consensus mechanism and pooled security model to offer high-speed, secure, and zero gas fee transactions. In this article, you can find answers to two frequently asked questions: what is Skale Network (SKL) and how to buy Skale Network (SKL) with TRY.
What is Skale Network (SKL)?
Skale Network is a network of scalable, interconnected blockchains designed to help developers achieve high throughput and zero gas fees by moving their projects from Ethereum. Founded in 2018 by Jack O’Holleran and Stan Kladko, Skale Network aims to improve the overall user experience in the blockchain space by making blockchain applications fast, easy, and free for all users. It creates a fast, gas-free ecosystem that supports the development of EVM-compatible blockchains, NFTs, games, decentralized applications (dApps), and more.
Skale Network operates its own consensus mechanism while working in an integrated manner with Ethereum. This design leverages Ethereum’s Proof of Stake (PoS) network and combines it with Skale Network’s pooled security model to offer high-speed, secure, and zero gas fee transactions. This architecture is particularly beneficial for Web3 and gaming applications. It increases cost efficiency and performance and contributes to Ethereum’s scalability for mass adoption.
Skale Network is a modular, multi-blockchain network with potentially unlimited independent, interoperable, and EVM-compatible blockchains. Users can deploy their existing Ethereum-based smart contracts directly on the Skale Network blockchain, enjoying high throughput and low latency. Skale Network’s blockchains can run smart contracts, decentralize storage, execute aggregation contracts, and more. Modified EVM functionality allows for various smart contract use cases, such as storing larger files on network nodes via the FileStorage smart contract. Inter-blockchain communication enables token and NFT transfers between different Skale Network blockchains.
Each blockchain on Skale Network is highly configurable, allowing users to choose their consensus protocols, virtual machines, and security measures tailored to their needs. Developers can choose to have their own Skale Network blockchain or join a community blockchain. To use a Skale Network blockchain, developers pay a network subscription fee via a smart contract called Skale Network Manager on Ethereum. This fee-sharing model between validators and delegators allows Skale Network to offer zero gas fees to end users.
The project uses a decentralized node network to create a pooled security system. Nodes provide resources to multiple Skale Network blockchains, including storage and latency, allowing node owners to manage the native utility token SKL. Skale Network includes the Skale Network Manager and Skale Network Nodes. The SKALE Manager operates on the Ethereum mainnet and supports the creation and destruction of Skale Network blockchains. Validators running Skale Network Nodes stake SKL tokens on Ethereum and support multiple Skale Network blockchains by meeting hardware requirements. Nodes are audited by peer validators to ensure decentralization and are rewarded with SKL tokens based on their performance.
How to Buy Skale Network (SKL) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey looking to buy Skale Network (SKL). On Binance TR, where accounts can be created quickly, more than 100 cryptocurrencies, including SKL, can be bought and sold. To buy Skale Network (SKL) with TRY on Binance TR, follow the steps below.
How to Open an Account on Binance TR?
Opening an account on Binance TR is quite easy. To do this, go to trbinance.com and proceed from the “Create Account” step. In the first step of account creation, you will be asked to enter basic information such as email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.
After entering the requested information completely and correctly, email/sms verification will be done to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification on Binance TR is one of the security procedures that must be completed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can perform the verification process from your phone or via the official Binance TR website. Note that you will need your mobile phone to verify your identity on the website.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click “Verify.” After this step, you will need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, click “Copy URL” to send the identity verification address to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, continue by tapping the “Identity” option first.
Then a screen like the one below will appear. To continue the verification process, first select the document type that suits you best.
After selecting the document type, continue by tapping “Upload Front Side.” After taking a photo of the front side of the document according to the document type you selected, tap “Upload Back Side” and take a photo of the back side of the document and upload it. Make sure that the images are clear and that the information in the photo you took is easily readable when taking photos of the front and back sides of your ID card or driver’s license.
Then continue by tapping the “Selfie” option. At this point, your phone’s front camera will open, and you will need to scan your face. Make sure your face fills the camera area as much as possible once the camera opens.
After completing all these steps correctly and completely, your identity verification process will be completed in a short time.
How to Deposit TRY on Binance TR?
You can easily deposit TRY into your Binance TR account from all banks. You can deposit and trade 24/7 from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. For other banks, you can deposit up to 50,000 TRY 24/7 with FAST. Deposits over 50,000 TRY from other banks are processed during EFT hours.
To deposit money into your Binance TR account, first go to trbinance.com and hover over the “Wallet” option at the top left of the homepage, then click “Deposit” from the drop-down menu.
Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST to that bank. Now, all you need to do is use the information shown on the page of your preferred bank to transfer the amount you want to deposit into your Binance TR account via transfer, EFT, or FAST.
After your bank completes the transfer process, the funds you sent will be automatically reflected in your wallet in your Binance TR account.
How to Buy SKL Coin with TRY on Binance TR?
After the deposit process, you can proceed to the step of buying SKL coin with TRY by clicking on the “Buy-Sell” option in the top left menu of the Binance TR website.
After clicking this option, the page below will open. By typing “SKL” in the search section on the right side of this page, you can go to the SKL purchase page with TRY by clicking on the SKL/TRY option from the results.
Now the SKL trading page below will open. On this page, in the area marked with a red box, you need to enter the price at which you want to buy SKL in the first box and the number of SKL you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy SKL” button.
What is Binance TR?
Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) through direct bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users supported by Binance’s core functionalities can access market-leading spot trading liquidity, a robust matching engine, advanced security protocols, custody solutions, and risk controls through Binance TR.
