SKALE Network is an open-source protocol that aims to increase the scalability of Ethereum. Jack O’Holleran, a technology entrepreneur specializing in blockchain and decentralized systems, and Stan Kladko, co-founder of Galactic Exchange and Cloudessa, founded SKALE Network in December 2020.
SKALE Network can develop smart contracts, create decentralized applications in the “cloud,” and pay almost no transaction fees. SKALE Network aims to provide developers with a fast and functional experience while remaining secure and decentralized.
The SKALE Network token (SKL) is a utility token that is part of the SKALE Network network and operates on the Ethereum platform in accordance with ERC20 standards. It is used for the following purposes: