Bitcoin

Ether

Cardano

Dogwifhat

Rally

Moss Carbon Credit

Burn

API3

Magic Internet Money

Liquity USD

STEPN

Peanut the Squirrel

1inch

Bonk

Orca

Metis

Solana

Quant

Gemini dollar

Goldfinch

tBTC

NEAR Protocol

Goatseus Maximus

Basic Attention Token

Helium

Radicle

Spell

Tezos

Arbitrum

DerivaDAO

OMG Network

Synthetix

Polygon

Golem

Loopring

Chiliz

Wrapped Filecoin

Total Crypto Market Cap

Illuvium

Gala

Orchid

Lido Staked ETH

Alchemy Pay

Caspian

Samoyedcoin

Keep Network

Refereum

Mask

Loom

PlayDapp

Ankr

Render Token

Cat in a dogs world

Immutable X

SushiSwap

Celestia

Filecoin

Pyth Network

Binance USD

Qredo

Fetch.ai

Wrapped Bitcoin

Terra

Yearn.finance

Alethea Artificial Liquid Intelligence

IoTeX

Wrapped Nexus Mutual

Livepeer

Index Cooperative

Maker

Compound

Stargate

Fantom

Popcat

Maple

Liquity

Balancer

Zebec Protocol

USD Coin

FLOKI

Enjin Coin

TerraUSD

Ocean

Push Protocol

Polkadot

Optimism

Smooth Love Potion

Ethernity Chain

Pepe

Tether

Decentraland

Raydium

Storj

Keep3rV1

Wrapped TON Crystal

Cryptopedia Staff

The SKALE Network (SKL)- Elastic, Scalable Sidechains for the Ethereum Network-100

Covers how the SKALE crypto network and its ERC-777 token — SKALE token (SKL) — help build Ethereum dApps to foster the decentralized blockchain movement.

SKALE Crypto Network: SKALE Token & Ethereum dApps

SKALE is a Layer-2 Ethereum sidechain network that creates a high-throughput, low-latency, low-cost environment for decentralized app (dApp) development.

SKALE Network (SKL): Elastic Ethereum Sidechains for Scaling

SKALE Network (SKL)

Explore our collection of Cryptopedia articles related to SKALE Network (SKL). Discover new topics and the latest insights.

SKALE Network (SKL) Articles - Cryptopedia

Scaling (Layer 1 & Layer 2)

Explore our collection of Cryptopedia articles related to Scaling (Layer 1 & Layer 2). Discover new topics and the latest insights.

Scaling (Layer 1 & Layer 2) Articles - Cryptopedia

Welcome back to our Token Spotlight series! This week we are taking a look at [SKALE](https://www.gemini.com/prices/skale), a fully-decentralized multichain network built to scale Ethereum.

__SKALE Basics__

- __Governance Token__: [SKL](https://www.gemini.com/prices/skale)
- __Underlying Blockchain__: Ethereum
- __Total Token Supply__: 7 billion 
- [__SKALE website__](https://skale.network/)
- [__SKALE whitepaper__](https://skale.network/whitepaper)

__SKALE Use Cases__

[SKALE was designed](https://www.gemini.com/cryptopedia/skale-network-skl-coin-ethereum-dapps-skl-crypto) to offer dApps their own fully [decentralized](https://www.gemini.com/cryptopedia/decentralized-applications-defi-dapps) Ethereum compatible blockchain addressing the challenges of high costs, technical scalability, and user experience. 

The SKALE Network targets these limitations by acting as a multichain [Layer-2 scaling solution](https://www.gemini.com/cryptopedia/blockchain-layer-2-network-layer-1-network) for the Ethereum network that enables developers to bypass congestion on the Ethereum mainnet and offer gas-free transactions. To accomplish this, SKALE migrates most transactions off of the main chain and onto adjacent SKALE-administered chains, known as SKALE Chains, that have no transaction costs while on chain. The various SKALE Chains operate as independent blockchains that integrate with their [parent network or main chain](https://www.gemini.com/cryptopedia/glossary#parent-chain); this is intended to allow dApps to run and scale quickly and efficiently on their own unique chain. 

SKALE also recently announced the upcoming SKALE V2 network upgrade, which is being named the SKALEVERSE and aims to support Web3 projects. The SKALE to V2 upgrade evolves SKALE from a network of siloed L2 chains to a high performance modular L1/L2 hybrid network of scalable interconnected blockchains. Notable improvements to the network include the optimization of support for NFT, Metaverse, and Play-2-Earn applications. Read more about the [coming upgrade here](https://skale.network/blog/into-the-skaleverse-introducing-skale-v2/). 

__SKALE Token (SKL) and Governance Overview__ 

SKL is an [ERC-777 token](https://www.gemini.com/cryptopedia/ethereum-token-standards-erc777-erc1155-erc223-erc1337), which maintains backward compatibility with ERC-20 platforms, but doesn’t require delegators to lock their tokens in smart contracts. Instead, delegators provide a secure key to the staker, ensuring they are able to retain control of their SKL. The SKL token facilitates four main functions on the SKALE Network:

- Security and Staking: SKL token holders can stake, or delegate, their tokens to [validators](https://www.gemini.com/cryptopedia/search?query=validator), the parties who validate transactions. These validators operate the SKALE Network by verifying blocks, executing smart contracts, and securing the network. As validators, they receive SKL crypto rewards for their efforts.
- Payment: Developers use SKL tokens to pay for SKALE Chain subscriptions.
- Rewards: Both delegators and validators receive SKL crypto premiums derived from the subscription fees paid by developers and the inflation of tokens into the network.
- Governance and Voting: The SKL token facilitates on-chain voting, which controls all economic parameters on the SKALE Network.

We are excited for the potential for dApps to benefit from the security, [scalability](https://www.gemini.com/cryptopedia/search?query=Scaling%20Solution), and adaptability of the SKALE Network. It’s yet another step in unlocking the next era of financial, creative, and personal freedom.

Onward and Upward!

Team Gemini

Welcome back to our Token Spotlight Series! This week we are taking a look at SKALE, a fully-decentralized multichain network built to scale Ethereum.

Token Spotlight: SKALE (SKL)

Home

Prices

Skale

Breadcrumb-SKL

What is SKALE?

SKALE Token

About SKALE (SKL)

Apply Now

Gemini Credit Card

Earn crypto rewards on every purchase with The Gemini Credit Card.

Invest in {{coinName}} when you spend.

Skale website

Skale technical documentation

Skale links and resources

Frequently asked questions

Go to cryptopedia

Ether Cryptopedia

Learn more on cryptopedia

SKALE Network is a layer-2 blockchain solution that allows developers to build decentralized applications (dApps) in a secure, reliable, and cost-effective manner. Developers pay for SKALE Chains with SKL tokens to run dApps. SKL tokens can also be used for delegating and staking to secure the network. Stakers and delegators earn rewards in exchange for locking-in their assets.

## Token

SKL is an ERC-777 standard utility token used to support application deployment on the SKALE network.

SKL can be stored in a crypto wallet and custodian like Gemini.

[SKALE website](https://skale.network/)

[SKALE technical documentation](https://skale.network/docs/developers/overview)

SKALE

View the latest SKALE price movements, charts, and supply details. Learn more about SKALE history, use cases, and learn how to buy & store

SKALE Price, Chart, & Supply Details - SKL Price

BOOK OF MEME

MooDeng

You can get $15 in the crypto of your choice and earn up to 25% of your friends' trading fees for a year.

Prices

Prices

Derivatives

Derivatives

All Products

Institutions

Resources

$0.059

About SKALE (SKL)

Refer friends and get crypto

Invest in SKALE when you spend.

SKALE Blogs

SKALE Cryptopedia articles

Skale links and resources

Learn more on cryptopedia