SKALE Network Coin is the native cryptocurrency of SKALE network, an open source elastic blockchain network that provides developers with the ability to easily access highly configurable and fully decentralized chains. Detailed information about what is Skale Network coin SKL, how does it work, how much it costs, how to buy, etc. is in the continuation of the content. For information about Unibright coin (UBT), you can check here.
What is Skale Network coin (SKL) and how does it work?
SKALE Network Coin is a mixed use token. SKALE Network Coin is the native cryptocurrency of SKALE network, an open source elastic blockchain network that provides developers with the ability to easily access highly configurable and fully decentralized chains. SKALE uses the SKL coin, a mixed use token that represents the right to operate as a validator on the network, receive a share as an agent, or access a share of its resources.
SKALE acts as a security and execution layer that connects with Ethereum and integrates deeply into the Ethereum network. The network is evolving to support thousands of independent blockchains (elastic sidechains), file storage chains, and other types of subchains, all connected to the Ethereum public mainnet and fully compatible with the entire Ethereum ecosystem.
SKALE Network (SKL) Prometeus (PROM) is a mixed use token. According to the platform’s descriptions, SKALE Network Coin serves to facilitate three main functions:
- Security and Staking: SKL token holders (delegators) issue SKL tokens to validators running nodes that perform the SKALE network function by validating blocks, executing smart contracts, and securing the network. They are rewarded with SKL tokens for their efforts.
- Fee Payments: Developers purchase subscription access to elastic blockchains (S-chains) using SKL tokens.
- Management and Voting: SKL tokens will be used for on-chain voting, which will control all economic parameters of the SKALE Network.
Where to buy Skale Network coin SKL and how much does it cost?
SKL coin can be purchased from listed cryptocurrency exchanges. But before trading, it is necessary to make sure that the exchange is a reliable and well-known cryptocurrency exchange. As of August 23, 2021, the value of 1 SKL coin is around $0.37.
Caution: The information contained in this content is for informational purposes only. It is not investment advice.
For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency
