CRASH COURSE ON SKALE NETWORK — A GUIDE FOR NEW USERS

INTRODUCTION

Since the inception of technology, life has seen major revolution, firm the little ways of carrying out several basic routine activities within the immediate environment, to the various industries of the global system.

The blockchain is one of the high profile productions which has emanated from the technological industry over the years, this piece is already gaining momentum within and beyond the financial industry, its decentralized framework and scalable design informs its adoption in various economies. The most notable ones are the bitcoin and Etherum network.

In this skale crash course, I would like to unveil an innovative blockchain structure designed to operate and accentuate the etherum blockchain network as well as improve its performance as regards, this lesson is focused on unraveling the diverse approaches to projects creation and Dapps development on the Etherum blockchain network.

OVERVIEW OF SKALE NETWORK

SKALE network is a unique latency free, configurable, blockchain framework created to interoperate seamlessly with Etherum. The network is also known as an elastic side chain network due to the fact that it serves as multiple blockchains which can be attached to the parent blockchain network(Etherum) and aid in the improvement of its performance while expanding its functions as regards to adoption and dapss development.visit https://skale.network for more information.

This structure possesses an unrestricted number of nodes linked to the parent decentralized blockchain structure which provides proper and highly reliable data feed . The project is developed by N.O.D.E foundation. Click https://skale.network/team/ to learn more about the development.

LESSON 1

THE SKALE NETWORK STRUCTURE
These ideas are a portion of the structure squares of the Skale network, they are both situated in the Etherum foundation.

The Skale administrator is fundamentally a passage point for all shrewd agreements into the skale biological system, it is arranged in the Etherum network to run minds keen agreements and translate which of them have enough space to help the size of subnodes, after which the certified agreements are delegated to flexible chains.

The networks makes arrangement for the creation and demolition of nodes creation, and annihilation of flexible side chains.

LESSON 2

THE RATIONALE BEHIND SKALE NETWORK.

Rationale simply means an underlying reason why a thing is done, in this context, we wanna consider the principles behind skale network’s development.

This network is designed to present the etherum network as a foundation for blockchain and Dapps developers in a gasless subscription based blockchain infrastructure in order to provide stakeholders a completely high throughput, storage enabled,secure Byzantine fault tolerant and EVM compatible blockchain framework.

LESSON 3

HOW SKALE IMPROVE THE PERFORMANCE OF THE ETHERUM BLOCKCHAIN NETWORK.

The Etherum blockchain despite its popularity, especially as a result of its PoS consensus algorithm has over the years facilitated the drive and adoption of DeFi, still possess some loopholes which need to be filled for more adoption within the ecosystem.

Skale facilitates etherums execution of transactions in a highly secure, transparent, cost effective manner with total throughput and finality guaranteed as well as addresses the issues encountered when connecting with API based wallets https://skale.network/whitepaper.

Apart from SKALE’S involvement in transaction, it also supports the adoption of not only the Etherum blockchain but also sophisticated applications developed on it, it also solves the storage problems on Etherum as its storage design is can be expanded beyond limits and is linked directly to the Etherum mainnet.

Recently, the Etherum network gas fee has skyrocketed quite massively, this has become a problem for users of the blockchain as most people tend to spend a lot more than they hoped as fees for executing transactions. Well, SKALE is designed to address these sort of issues. With SKALE network, transactions can be executed on the parent blockchain for a zero network transaction fees for each transaction, it also alleviates the latencies in executing transaction on chain, this way user experience will not only be improved but also be more enjoyable and cost effective, for more information on this, see https://skale.network/blog/the-skale-network-primer/

LESSON 4

UNIQUE SECURITY STRUCTURE OF SKALE.

The blockchain is a next generation technological tool designed to simplify transactions and improve various industries around the globe. Accomodating various digital assets on the blockchain requires high level of security and transparency, that is why every blockchain infrastructure requires an i security design as community funds and assets needs to be kept intact at all times while hedging against shady practices of hackers, cyber attacks and other adversarial attempts to compromise the network.

Let’s consider the components of the SkALE networks security system.

The Asynchronous protocol designed to check activities of nodes on the network, this is aimed at picking up latencies of mode activities within the Skale framework and causing a bit of hesitance in message delivery intervals.

The threshold signature, designed to help achieve randomness in the allocation of nodes as well as interchain communication.

There is also a byzantine fault tolerant which powers the network to attain full consensus regardless whether honourable nodes are outnumbered by malicious nodes in the network.

Leaderless consensus, ensures that node participants on the network possess equal right to initiate proposals for new blocks.

LESSON 5

NETWORK TOKENOMICS

SKALE TOKEN.(SKL)

This is a hybrid cryptocurrency that confers on the holder the right to function as a validator, stake as a delegator or have access to available resources by proffering elastic side chains as a developer.

Below is the token description.

Name: SKALE

Ticker: SKL

Standard: ERC20

Max supply: 7 000 000 000 000

Total supply. 4 414 000 000 000

Public allocation. 175 000 000

Public launch price. $ 0.03

With the SKL, holders can stake or delegate their tokens to node validators on skale and passive rewards, this contributes to the security and of the network.visit https://skale.network/tokenomics for more details.

Below is the allocation of the skale token based on the maximum supply.

1.3 f of the total token supply is channelled towards funding of the ecosystem.

4.0% goes to the core team pool.

7.7% is allocated to the development of the protocol that fuels performance of the network, Skale protocol.

10% goes to the Skale foundation

The broader founding team of the skale network receives 16% of the total token supply.

33% of the total token supply is allocated as reward to noee validators

Early adopters and public allocation grabs the remaining 28.1%.

CONCLUSION

This crash course is basically a guide for beginners who are new in DeFi to have an inkling about this innovative project, SKALE network or Elastic sidechain network. https://skale.network/blog/the-skale-network-primer/

The Skale network is making the adoption and performance of the Etherum blockchain and decentralized applications developed on it quite easy, with this crash course, new and existing users can seamlessly integrate into the network and enjoy amazing user experiences.

Visit the links below to know more about Skale Network:

Website: https://skale.network/

Discord: https://discord.com/invite/uq3Nr6f

Telegram: https://t.me/skaleofficial

Facebook: https://www.facebook.com/SkaleNetwork/

Twitter: https://twitter.com/skalenetwork

Article Written by: Omoniyi Oluwabukola

Telegram : @Omonii