SKL

SKALE price

SKL
|
3.2/5
TokenInsight
3.2
11/20/2022
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USD
USD
$0.074923
-0.26%
1h
24h
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SKALE price live data

The current price of SKALE is $0.074923. Since 00:00 UTC, SKALE has decreased by -0.25%. It currently has a circulating supply of 5,179,144,337 SKL and a maximum supply of 7,000,000,000 SKL, giving it a fully diluted market cap of $387.92M. At present, SKALE holds the 117 position in market cap rankings. The SKALE/USD price is updated in real-time.

SKALE price performance in USD

Time periodChange amount%Chg
Today-$0.00019 -0.26%
7 days$0.0045332 +6.44%
30 days-$0.01080 -12.60%
3 months-$0.01808 -19.44%

SKALE market information

24h low/high
The highest, lowest, and last prices in 24 hours
24h low$0.073943
Last price $0.074923
24h high$0.075823
Heat index ranking
298
Market cap ranking
117
Market cap
$387.92M
Favorited rate
Percentage of users who favorited this asset to all users
0.73%
All-time high
$1.0754
-93.04% (-$1.0005)
Mar 30, 2021 (3 years ago)
All-time low
$0.018840
+297.68% ($0.056083)
Aug 18, 2023 (9 months ago)
ICO date
12/01/2020
ICO price
The price at which this crypto was first traded
$0.088657
Circulating supply
The amount of this crypto that is publicly available in the market
5,179,144,337 SKL
Market cap at circulating supply
Market cap = Circulating supply × Last price
$524.30M

About SKALE (SKL)

SKALE is an open-source, customizable blockchain network that equips users and developers with the tools to create Ethereum-based decentralized applications (dApps) with high throughput and performance. SKL is the native ERC-777 standard token of the SKALE Network.

SKALE aims to reduce transaction fees and enable network participants with high throughput by introducing a scalable Web3 sidechain called SKALE chain. The architecture of SKALE is supported by SKL token holders and validators that run nodes.

The SKALE network follows a Proof of Stake (PoS) consensus mechanism that is leaderless and asynchronous. SKALE aims to solve the Ethereum scalability issue with a bridge called Interchain Messaging Agent (IMA), which enables transferring of tokens and messages. These transfers are secured using BLS threshold cryptography.

It resolves technical problems and boosts any application's performance by creating an elastic sidechain that is EVM-compatible and interoperable with Ethereum. SKALE manager is responsible for creating these sidechains. It exists on Ethereum mainnet and handles all operations, such as node creation, withdrawals, and bounties.

The SKALE network also supports Solidity, enabling developers to use the same tools and token standards on the Ethereum mainnet. They can even leverage the Web3 storage layer of the SKALE network to directly store files on the elastic chain. Considering the SKALE network can handle over 2,000 transactions per second, and Ethereum can only execute approximately 10 to 45, this project can be a prominent execution layer for many blockchains moving forward.

To add more utility value to the network, the team at SKALE labs plans to add two main extensions storage and inter-chain communication. These will enhance storage capabilities and message relays between multiple sidechains, respectively.

SKL price and tokenomics

SKL is the native multi-purpose token of the SKALE network. It has a maximum supply of 7 billion. At the time of the network launch, 4.14 billion SKL tokens were released. SKL tokens were publicly sold on ConsenSys Activate, raising over $5 million with over 3,700 purchasers. The SKL price was $0.03, and more than 167 million tokens were purchased.

More than a third of the total supply of SKL tokens went to the validator community at an annual issuance rate of 9.3 percent. An additional 25 percent of tokens were given to network supporters, including validators, delegators, and users of other sidechains. A further 20 percent was distributed to employees and the founding team, with a total vesting period of over 5 to 6 years.

About the founders

On Jan 1, 2018, SKALE was founded by CEO Jack O'Holleran and CTO Stan Kladko. Before starting SKALE, O'Holleran spent over a decade building Aktana, a company dedicated to helping life science companies with their AI-enabled Contextual Intelligence Engine.

Kladko has over 18 years of experience in cryptography and holds a Ph.D. in Physics. At Stanford University, he founded a crypto startup called Ingrian Networks, which SafeNet later acquired.

SKALE has raised a total funding amount of $22.5 million over six rounds. The initial coin offering helped raise $5 million; the rest came from top investors from Korea, the US, and Europe. Arrington Capital, Multicoin Capital, and Blockchange Ventures are a few investors in funding rounds.

SKL FAQ

What is SKALE?

SKALE is a blockchain network that is open-source and customizable. It provides users and developers with tools to build Ethereum-based decentralized applications (dApps) with high throughput and speed.

What are the benefits of holding SKL?

SKL is a multifaceted token that enables holders to participate in the network's operations as a validator, stake as a delegator, and create an "elastic sidechain" or "elastic blockchain" for a limited time as a developer. Validators can stake SKL to operate network nodes and earn rewards.

Where can I buy SKL?

Easily buy SKL tokens on the OKX cryptocurrency platform. OKX's spot trading terminal includes the SKL/USDT trading pair.

You can also swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for SKL with zero fees and no price slippage by using OKX Convert.

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