SKALE (SKL) is a cryptocurrency described as an elastic network aimed at improving the scalability of Ethereum. This decentralized project not only strives for an increase in transaction capacity but also a reduction in latency and to ensure cost-effective transactions.

SKALE enables developers to create and operate dApps in a "decentralized, modular cloud" configured for real needs. The emphasis on decentralization does not come at the expense of security. According to SKALE, developers building on this platform can execute Solidity Smart Contracts "thousands of times faster at a fraction of the mainnet costs, including games and content streaming services that already benefit from this infrastructure.

It has a maximum supply of 7,000,000,000 SKL coins. Several leading exchanges, including BYDFi, have listed SKALE for trading.

SKALE Network has focused on improving the security and decentralization of Ethereum-based applications. Token holders in the SKALE network are incentivized and rewarded for their role as validators, contributing to the scalability and security of the platform.

SKALE Network was the first project to launch a token on the Activate platform by ConsenSys Codefi. Activate was developed to set new standards for the distribution of utility tokens and to ensure that networks are fully usable as soon as tokens are sold.

In general, Ethereum is often slow in verifying and authorizing transactions. Using the SKALE Network significantly improves speed, as SKALE operates much faster and can execute up to 2,000 transactions per second per chain.

SKALE Network was founded by Jack O'Holleran and Stan Kladko, both of whom have extensive experience in the software industry. O'Holleran, co-founder, and CEO of SKALE, is a technology entrepreneur specializing in blockchain and decentralized systems.

Kladko spent many years earning a Ph.D. in Physics before co-founding SKALE and working as a Technology Executive in Silicon Valley for 16 years.

The launch of SKALE was a notable event as it was the first project to launch a token on the Activate platform by ConsenSys Codefi. By introducing a token that complies with regulatory standards, SKALE hopes its token will be widely adopted and prevent fraudulent activities.

SKALE has gained attention as an investment due to its role in enhancing the scalability and security of Ethereum-based applications. The demand for improved infrastructure, like what SKALE provides, is increasing as more companies and developers rely on decentralized applications and smart contracts. SKALE also offers incentives for network participation, rewarding token holders who serve as validators, which enhances platform security and scalability. These incentives could drive up demand for SKL tokens, potentially influencing the token's price. Additionally, SKALE has the potential to significantly improve the speed of Ethereum transaction verification, making the network more appealing to users and potentially increasing the value of SKL.

Several factors could positively impact SKALE's price prediction. The unique features of the project, its applications, and its potential for future growth are key considerations. For instance, SKALE's ability to enhance scalability and security for Ethereum-based applications may drive up demand for SKL tokens, leading to a price increase. Moreover, SKALE's capability to execute Solidity Smart Contracts thousands of times faster could make it more attractive to developers and businesses, potentially increasing its acceptance in the broader blockchain community and positively influencing the price of SKL.

At the launch of the SKALE Network, the total supply of SKL tokens was 4.1 billion, with a maximum supply set at 7 billion tokens. The token distribution is as follows:

1. 33% for validator rewards
2. 28.1% for delegators
3. 16% for the broader founding team
4. 10% for the SKALE Foundation
5. 7.7% for the protocol development fund
6. 4% for the core team pool
7. 1.3% for the ecosystem fund

SKL token holders, known as delegators, stake their SKL tokens with validators who operate nodes supporting the SKALE network. These validators process transactions and provide network security. Delegators and validators receive rewards in SKL tokens for their roles. The staking rewards depend on the amount and duration of tokens staked, as well as the validator's contribution to network security and performance. Higher stakes and longer durations offer greater potential rewards. It's important to note that staking SKL involves risks.

SKALE (SKL) being an ERC-20 token, can be stored in any wallet that supports ERC-20 tokens. Popular wallets like MetaMask, Trust Wallet, and Ledger hardware wallets are compatible. These wallets provide secure storage and management of SKL tokens by granting users complete control over their private keys, ensuring high security.

To add SKALE (SKL) to MetaMask, copy the contract address (0x00c83aecc790e8a4453e5dd3b0b4b3680501a7a7) and import it manually. Once added, you can view your SKL token holdings and trade on decentralized exchanges.

SKALE (SKL) serves four primary functions:

1. Validation, Execution, and Security: SKL token holders (delegators) stake their tokens on validators who operate nodes, validating blocks, executing smart contracts, and securing the network.
2. Developer Subscription Fees: Developers use SKL tokens to purchase subscription access to SKALE chains (S chains).
3. Rewards for Validators and Delegators: Monthly rewards are accumulated based on developer fees for chains and monthly token inflation.
4. Governance and Voting: SKL tokens will soon be used for on-chain voting, controlling all economic parameters of the SKALE network.

Additionally, you can trade SKALE crypto against other cryptocurrencies on platforms like the BYDFi Spot Market to profit from market conditions. Whether you buy, sell, or hold SKL, it's essential to conduct your own research (DYOR) before making any trades in the crypto market.