SKALE FAQ

What is the SKALE Network?

SKALE is a multichain network that gives developers the ability to easily provision highly configurable decentralized chains that are native to Ethereum. SKALE chains can execute sub-second block times, run up to 2,000 tps per chain, and run full-state smart contracts in addition to decentralized storage, execute Rollups, and machine learning in EVM. The SKALE Network is an open source project with many contributors including SKALE Labs, Inc.

SKALE technical resources:

SKALE Whitepaper

SKALE Network Primer

SKALE Network Key Attributes

SKALE Network Technical Highlights

SKALE Developers Portal

Why is SKALE an improvement over other layer 2 protocols? 

The philosophy behind the development of the SKALE Network is directly in line with the view of employing multiple elastic sidechains. The ability to deploy and scale sidechains quickly, the use of a pooled validation model for dependable chain validation (even for small sidechains), expandable node configurations, and full-state smart contract processing are just a few of the advantages of deploying SKALE networks as elastic sidechains. In addition, SKALE is providing architecture that can deploy best-in-class research around scaling tech such as Rollups, state channels, and other methods. 

How can I access information regarding the Token and Network Economics?

Token and Network Economic information is here and also listed in the whitepaper starting on page 20.

What is SKALE Labs?

SKALE Labs, Inc. is the core team supporting the SKALE Network, an open source, decentralized, elastic blockchain network protocol. The mission is to make it quick and easy to set up cost-effective, high-performance sidechains that run full-state smart contracts that are instantly compatible with Ethereum. The goal of the network is to deliver a performant experience to developers that offers speed and functionality without giving up security or decentralization. 

SKALE Labs offices are in San Francisco, CA, and Kharkiv, Ukraine. The SKALE Labs investors include Blockchange, ConsenSys Labs, Hashed, HashKey, Floodgate, Multicoin Capital, Recruit Holdings, Signia VP, Winklevoss Capital, and more.

Who founded SKALE Labs and what experience do they have?

SKALE Labs was founded by Jack O’Holleran and Stan Kladko, both serial entrepreneurs. They have consciously built a core team that is filled with experienced software engineers, product marketers, and operations people. As a part of the process, they have made a concerted effort to create a team that is gender and ethnically diverse.  

Jack O'Holleran is Co-founder and CEO of SKALE Labs, and a veteran entrepreneur with a deep background in machine learning, AI, security, and blockchain. Prior to co-founding SKALE, Jack was a founder at multiple Silicon Valley enterprise technology companies. He holds a BS from the University of Nebraska and calls the Bay Area his home.

Konstantin “Stan” Kladko is Co-founder and CTO of SKALE Labs and brings 19 years of experience in cryptography and enterprise infrastructure technologies. He has founded several Silicon Valley venture backed startups and founded and ran a US government certified crypto lab for 7 years. Stan has a Ph.D. in Physics from the Max Planck Institute for Physics of Complex Systems, Germany.

What is N.O.D.E. Foundation?

The Network of Decentralized Economics (N.O.D.E.) Foundation is a non-profit entity based in Liechtenstein created to carry out the mission of supporting the SKALE Network open source project. The foundation is supported by the N.O.D.E. Anstalt, a subsidiary business arm of the Foundation, and SKALE Labs, Inc. headquartered in San Francisco, CA. SKALE Labs provides support to the Network by contributing to the open source code, community growth, and other key efforts to facilitate the growth and adoption of the SKALE Network.

Are there any Dapps that are already using SKALE? 

SKALE currently has over 60 Dapps in its Innovator program. These run the gambit from games to DeFi to streaming music to real estate. 

Why do these types of Dapps prefer SKALE?

Not only is SKALE easy to integrate (you can get up and running with a few lines of code), SKALE offers Dapps benefits that range from order of magnitude gains in transaction time, to order of magnitude drops in gas costs.

Who are the validators running on SKALE?

There are currently over 46 validator orgs running SKALE.

The list includes:

01NODE

Audit One

Blockdaemon

Blockware

Chainflow

Chorus One

Cypher Core

Dokia Capital

Figment

FreshSkale

Staked

Stakin

Stake With Us

WolfEdge Capital

SKALE Validators available on Hubble and Anthem later this year (not available on Activate for the Mainnet Phase 2 launch):

Ankr

Anonstake

Chainode

Hashed x DELIGHT

Hashquark

NGC Ventures

If you’re interested in becoming a validator, please go here.

When will Mainnet launch?

Mainnet launched June 30, 2020, for more information please read this blog.

Why did NODE Foundation choose ConsenSys Activate to launch SKALE as the first network on its platform? 

The N.O.D.E. Foundation chose the ConsenSys Activate platform for the SKALE Network launch because of their approach to the legal and regulatory ambiguity around utility token offerings that decentralized projects face. It’s important to make sure that incentives between the core team, investors, and purchasers are all aligned. For the core team, that means lockups that keep them incentivized to launch a sustainable network. For purchasers, that means getting them to stake into the network to create the security and stability needed for long term success. 

Activate provided a token sale, staking, and delegation platform for fair and distributed token launches. Post sale, SKL token holders can use Activate’s easy token staking and delegation functions to earn network rewards. More information on token delegation can be found in the SKALE Delegator Hub

Utilizing Activate’s more compliant KYC policy, the final number of approved participants in the SKL token sale was 4,533 with $53,300,000 in purchase intent, which was more than ten times the total token availability. On Friday, September 11, 2020, the public token sale of SKL, which powers the SKALE Network’s Ethereum scaling network, concluded. 3,736 people from 90 different countries purchased 167,139,884 SKL at $0.03 USD/SKL, creating a broad network of participants that spans the globe and significantly increases network security.

SKALE’s mainnet phase 2 went live October 1st with over $80 Million USD in Total Value Locked. A global cohort of roughly 4,000 people and entities from 90 different countries secured 135 SKALE Network nodes across 46 validator operators

What were the benefits of SKALE’s token launch occurring on Activate versus another platform?

We believe that Activate has done an incredibly thorough job of creating guidelines that will keep SKALE as compliant as possible in the launch of the network and token offering. By having this, we are also able to gain access to US markets, which is an incredibly important market for SKALE as many projects and Dapps will be created in the US.

At what point can users sell tokens they have purchased?

Purchasers must stake tokens into the network for a two month "proof of use" period. During the two month period the tokens will not be listed on exchanges nor will they be in a transferable state. After this period users are free to sell their tokens, and there will likely be an option to commit to a longer lock period to gain higher staking rewards. SKALE made a concerted effort to align the interests of token purchasers with the core team and early supporters by creating long-term and SAFT purchaser lockups.

How can I participate in the SKALE network?

Reach out and join our community!

Discord: http://skale.chat

Email: [email protected]

GitHub: SKALE Network

LinkedIn: SKALE

Twitter: @SKALENetwork

Telegram: @skaleofficial

If you are interested in purchasing Tokens for staking, you can begin the process with Activate here.

I have questions about the new token launch process?

Please see this FAQ document here.

Can I track the SKL token?

SKL tokens on etherscan

I have questions about the Ledger-Metamask flow on ConsenSys Activate?

See the full flow here