The SKALE Technology
Using blockchains shouldn’t be challenging or expensive. The first blockchain network that is fully designed for Web3 security and interoperability is called SKALE.
With the help of SKALE Network, developers can quickly and easily provision native Ethereum chains that are totally decentralized and extremely programmable. In addition to on-chain file storage and machine learning in EVM, SKALE chains can run full-state smart contracts and execute block timings in under a second.
How SKALE Operates
Due to SKALE’s powerful encryption and pooled security model, speed and decentralization are made possible without compromising security, enabling developers to provide end users with an excellent experience that is free of latency and gas costs.
The SKALE Technology
Leaderless BFT Consensus
A variation of the Asynchronous Binary Byzantine Agreement (ABBA) protocol is utilized as the consensus mechanism for block generation and commitment for each chain, decreasing subnode downtime by recognizing slow links.
Signatures with BLS Thresholds for Interchain Messaging
Once a transaction is uploaded to the Ethereum mainnet, virtualized subnodes for each chain can verify it using the group signature used by the subnodes in the other chain.
Monitoring Nodes
Each SKALE Node has a Node Monitoring Service (NMS) that allows for the performance monitoring of a limited number of additional nodes in the network. A routine operation that pings peer nodes and logs the measurements is used in performance tracking to assess uptime and latency.
Containerized Subnodes Offer Exceptional Performance
Enterprise-grade speed is unlocked by a special containerized subnode structure, which also gives dApp developers choices comparable to those of centralized systems in terms of elasticity, configurability, and flexibility.
Security Protocol: Pooled Validation Model
A mainnet contract distributes and randomly rotates validator nodes to SKALE chains. A non-deterministic schedule will be used to add and delete nodes from one or more chains. Every configurable blockchain can benefit from the security pool of the entire network on behalf of each chain thanks to this revolving process of random node rotation.
Containerized Validator Nodes: Node Architecture
A novel containerized architecture that supports the virtualized subnodes gives dApp developers industrial-grade performance. For great performance and flexibility, SKALE utilizes the resources of the entire network for each independent chain.
Developers may quickly launch their EVM blockchain on the SKALE network without compromising decentralization, speed, or security.
Scaling transaction throughput, transactions per second, latency, accessibility to API-based wallets, cost-effectiveness, seamless messaging between chains, and many other factors are crucial for the adoption of Ethereum-based apps and decentralized solutions in general.
Building and scaling Ethereum-based apps, from games to decentralized finance to productivity, media applications, and everything in between, is greatly facilitated by using an execution layer solution like the SKALE Network.
About us:
NFT Labs is a web3 company exploring big ideas in community, utility and engagement to push the crypto, NFT and metaverse space forward. To learn how your organization can participate in the web3 revolution, write to us at hello@itsmyne.club.
We’re backed by leading blockchain institutions including Longhash Ventures, Antler, Oracles Investment Group, and Shima Capital among others. NFT Labs is also the issuer of the MYNE token ($MYNE), a BEP-20 utility token for Itsmyne and partner applications. MYNE serves as the gateway between traditional social media and blockchain-based social economies.
