March 19, 2021
SKALE Mainnet Upgrade Demo
SKALE’s goal is to bring the power of Ethereum to billions of users. While SKALE Chain functionality has been available for a long time, in order to run the Interchain Messaging (IMA) bridge between Ethereum and SKALE an upgrade was needed. IMA is an important feature as it allows every skale chain to speak back and forth to the Ethereum mainnet. To see the full list of features, please read this community update. With the upgrade audited and complete, we’re very excited to show you a demo of the SKALE Network upgrade slated to go live in the next few weeks.
Without further ado, please see the demo below:
Key facts from the demo
- SKALE Network consists of many blockchains with fast performance at low cost.
- Demo 1: SKALE Medium Chain
- 16 nodes distributed in the cloud running a 1/32 size chain
- More than 2 blocks/second
- More than 100 transactions/second
- 100 transactions/second is about 8.5 Million transactions per day
- Medium chains offer a good balance between price, decentralization, and performance
- Demo 2: SKALE Large Chain (for power hungry applications)
- SKALE consensys running on 16 very powerful machines, pushing performance limits (Showing what a typical credit card processor needs)
- Over 1600 transactions/second in a stable state
- Blocktimes only increased to around 4 seconds even with 16X the transactions of the medium chain
Momentum for SKALE is continuing as the SKALE innovator program grew to 135 teams and our recent Dapp and Partner use case marathon had over 19 announcements. It’s also become more decentralized with new exchanges (Coinbase, CoinbasePro, CoinList, Crypto.com) adding more token holders and over $2 Billion in value staked into the network. Add that to the SKALE Network of 153 nodes run by 46 unique validator orgs and 6 months post genesis epoch we see SKALE is delivering on its vision. Of course, this doesn’t even get into the amazing support from the Community, who are the true owners of the SKALE Network.
Jack - Cofounder
Stan - Cofounder
Serge - Core Team Engineering Lead
Alex - Core Team Software Engineer
If you haven’t been keeping up to date, please check out this recent blog post on why SKALE and Ethereum are able to create a synergy of mutual value capture. Additionally, this page is very useful for learning more about the $SKL token.