Dear PointPay family, we continue to expand the range of available cryptocurrencies step by step. This Friday, March 10th, the token of the SKALE network, which is native to Ethereum, will appear on the PointPay platform.

SKALE network

SKALE is a network of interconnected blockchains designed to bring unprecedented speed, decentralization and security to various Web3 applications.

With SKALE, developers can quickly create their own blockchain that is decentralized, secure and fast to operate. The created blockchain will be connected to other blockchains as well as the Ethereum blockchain itself, making it as user-friendly as possible.

Unique solutions

SKALE blockchains differ from the usual ones by their special modular architecture. New nodes in the SKALE blockchain can create their own chains, which only increases the throughput as new nodes join! For example, 100 SKALE chains can process 39,770 TPS, while 1000 chains can process 397,700 TPS. Because of this, SKALE blockchains have virtually unlimited scalability.

While each chain has its own processing power, the security of the entire blockchain is distributed across the chains. Each validator can process 8 chains simultaneously. However, the chains constantly mix and swap validators, creating optimal collusion resistance.

A unique feature that makes SKALE particularly attractive to end users is the zero gas fee. SKALE allows the creation of infinite, fast and secure blockchains where the end user pays no fees.

SKL token

The SKALE project has its own token called SKL. This token has four main functions:

  • SKL holders stake their tokens with validators to validate transactions and keep the network running.
  • To keep the network running, there is a monthly reward that is distributed to validators and then to SKL holders.
  • Rewards consist of developer subscription fees. These fees are paid by developers to create and develop their own blockchain on the SKALE network.
  • Soon there will also be an on-chain voting functionality where users can control the economic parameters of the SKALE network. SKL tokens will be used for voting.

Scope of use

The possibilities for using the SKALE network to create and scale DApps are almost limitless. The developers can use SKALE network to build solutions for:

  • Gaming
  • DeFI
  • Web3
  • dE-commerce
  • DAOs
  • NFTs

Behind the SKALE Network is a technology stack that allows the project to be completely unique and offer limitless solutions for creating decentralized blockchains with high speed, bandwidth, security and reliability.

The SKALE Network token, SKL, will be listed on the PointPay platform as early as this Friday, March 10th. And while we're at it, you can read more about the SKALE project on its official website by clicking here:

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