Developers of the flexible SKALE blockchain, designed to support Ethereum-based projects, have successfully deployed the second phase of the project’s main network.
The SKALE platform team, which operates on the basis of the Ethereum-as-a-service concept, said that crypto assets worth more than $ 78 million have already been blocked on the network. More than 4,000 users and organizations from 90 countries participate in the platform. helping to protect about 130 network nodes with 46 validators.
SKALE Labs CEO and Co-Founder Jack O’Holleran said SKL token staking “provides PoS security for SKALE Chains, which will run games, DeFi and Web 3 applications.” The modular cloud network will offer developers of Ethereum-based decentralized applications the ability to scale to thousands of transactions per second at a low cost, while reaching a large number of Ethereum users.
Since the transaction fees the network Ethereum sharply increased in recent months due to increased demand for products DeFi, Skale team believes that its decision “flexible” and custom chains will be popular. A project spokesperson said the launch of the second phase “is important as it will offload traffic and reduce transaction costs on the Ethereum blockchain, and developers will be able to create dApps that meet high consumer demands.”
As a reminder, Ethereum developers are also working to increase bandwidth and reduce network fees. The developers plan to launch Ethereum 2.0 in November.