Mainnet launches are seen as one of the developments that allowed cryptocurrencies to gain momentum. Indeed, a web3 coin project that recently announced its move to the mainnet has risen to follow this tradition. Here are the details…
Web3 coin project Scale (SKL) surged
Decentralized application protocol Scala (SKL) has launched four version 2.0 staging chains that will be part of the latest testnet, also known as testnet. it took. Skale is designed to help Web 3.0 developers circumvent the congestion on the ETH Blockchain, and the project’s product manager, Chadwick Strange, says the testnet will run for about two weeks before getting the Skale 2.0 mainnet upgrade. Strange also notes that due to the highly decentralized nature of Blockchain, it may take several days for validators or Blockchain participants responsible for verifying transactions to fully update the Skale. According to
Skale, the testnet serves as a way to familiarize validators with concepts such as random node selection and frequent node rotation that are crucial to the security of the protocol. As a result of the developments, SKL rose from $0.138 to $0.322, up more than 100 percent on a seven-day scale. It’s changing hands at $0.289 at the time of writing. As can be seen from the one-day chart above, it has gained close to 24 percent in the last 24 hours.
What is a scale?
SKALE is defined as an elastic network designed to bring scalability to Ethereum. The decentralized project aims to increase processing capacity as well as reduce latency and ensure payments are made as cheaply as possible.
The project’s website says it wants to enable people to build and run decentralized applications (dApps) “in a decentralized modular cloud, built and configured for real-world needs.” According to SKALE, builders on this platform can run games and content streaming services, as well as Solidity smart contracts “thousands of times faster at a fraction of the mainnet cost,” among projects already leveraging its infrastructure.
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