SKALE Network
SKL
Watchlist
₹5.84
LIVE
Watchlist
24H Low ₹5.55
24H High ₹6.70
Price of SKL today
The current live price of SKL today is ₹5.84, with a 24-hour trading volume of ₹7,63,65,11,408.40. Our SKL to INR price is updated in real-time. SKL has seen a decrease of -11.05% in the last 24 hours. With a live market cap of ₹32,52,78,62,951.40 , the circulating supply is at 5,538,894,337 SKL coins, with a maximum supply of 7,000,000,000SKL coins.
SKALE Network Price History
Date Comparison | Amount Change | % Change |
---|---|---|
Today | -₹0.79 | 11.87% |
7 Days | -₹1.09 | 15.65% |
30 Days | ₹2.00 | 51.68% |
1 Year | ₹2.00 | 51.61% |
SKALE Network Price Information
Price Change (1hr)
12.87%
Price Change (24hr)
11.87%
Price Change (7d)
15.65%
SKALE Network Market Stats
Market Cap
₹32,52,78,62,951.40
Fully Diluted Market Cap
₹41,10,83,92,181.70
24hr Volume
₹7,63,65,11,408.40
54.51%
Circulating Supply
5538894337 SKL
Total Supply
7000000000 SKL
Things to know about SKALE Network
What is the token?
The SKALE Network (SKL) is a hybrid-use token that serves multiple functions within the SKALE Network, an Ethereum-native multichain network. SKL represents the right to work in the network as a validator, stake as a delegator, or access a share of its resources as a developer by deploying and renting a SKALE chain for a set period. The network is designed to enhance Ethereum’s scalability by providing high-throughput, low-latency sidechains with zero gas fees for end-users. Validators stake SKL to run nodes and earn rewards, while developers use SKL to pay for subscription access to SKALE chains for their dApps.
Tokenomics
SKL has a maximum supply of 7 billion tokens, with a circulating supply of over 5 billion. The token is used for staking by validators and delegators, who secure the network and earn rewards. Developers pay for access to SKALE chains using SKL tokens, and rewards are distributed monthly based on fees paid by developers and the monthly inflation of tokens into the network. SKL tokens will also be used for on-chain voting to control the economic parameters of the SKALE Network.
Market Data
As of today #{today’s date}, the price of SKALE Network is ₹5.84 INR or 0.0649 USD, with a 24-hour trading volume of 84850126.76 USD. The market capitalization for SKALE Network is 361420699.46USD. The circulating supply is 5538894337 SKALE Network, with the total supply also being 5976541667 SKALE Network.
Token Pros and Cons
Pros:
Zero gas fees for users can significantly reduce the cost of operating dApps on the network.
High-throughput and low-latency sidechains improve the scalability and performance of Ethereum-based applications.
Validators and delegators can earn rewards by staking SKL, incentivizing network security, and participation.
The token has a straightforward utility within the network and is used for staking, governance, and accessing network resources.
SKALE’s interoperability with Ethereum allows seamless integration with the broader Ethereum ecosystem.
Cons:
The network’s success is heavily dependent on the adoption and continued growth of the Ethereum ecosystem.
Validators face the risk of bounty reduction or future slashing for non-compliance or malicious behavior.
The complexity of blockchain technology and the SKALE Network may present a barrier to entry for new users and developers.
Market volatility can significantly affect the value of SKL, impacting staking rewards and network participation.
SKALE may face competition from other scaling solutions and Layer 2 networks as a relatively new project.
Why Should You Invest in the Coin?
SKALE Network offers a practical solution to Ethereum’s scalability issues, a significant pain point for developers and users.
The network’s zero gas fee model can lead to increased adoption by dApp developers seeking to minimize costs.
SKALE’s modular architecture allows customizable blockchains to cater to specific application needs.
The network’s design promotes a high degree of decentralization and security, which are critical for the success of blockchain platforms.
SKALE strongly focuses on user and developer experience, which could drive long-term growth and demand for the SKL token.
USP of the coin
SKALE’s zero gas fee model is a unique selling point that sets it apart from other blockchain networks, potentially saving users billions in fees.
The network’s ability to run an unlimited number of interoperable SKALE chains provides unmatched scalability options for developers.
SKALE’s hybrid use token model integrates staking, governance, and network resource access, creating a comprehensive ecosystem for participants.
The Problem the coin is solving
SKALE Network addresses the scalability, user experience, and cost issues associated with decentralized networks like Ethereum. By providing high-throughput, low-latency sidechains with zero gas fees, SKALE enables developers to create performant and cost-effective dApps, thereby facilitating broader adoption of blockchain technology.
Founder and team background
Jack O’Holleran and Stan Kladko co-founded the SKALE Network. O’Holleran has a background in entrepreneurship and decentralized systems, while Kladko brings expertise in cryptography and blockchain technology. Together, they aimed to solve the blockchain scalability trilemma and have built a team with experience in fintech, security, and decentralized applications.
ICO Price
SKALE Network successfully raised a total of $17.1 million across its funding rounds, with notable investors such as Arrington Capital, Hashed Emergent, Hashkey Capital, Multicoin Capital, Recruit Holdings, and Winklevoss Capital backing the project.
The network's ICO took place from September 3 to September 5, 2020, with the ICO token price set at $0.03 USD per SKL. The fundraising goal was $4,375,000, and a total of 4,140,000,000 SKL tokens were available during the ICO.
Risks Associated with Investing in the Coin
The SKALE Network’s success is closely tied to the Ethereum ecosystem, and any adverse developments in Ethereum could impact SKL.
Regulatory changes or scrutiny in the cryptocurrency space could affect the operation and value of SKL.
The network faces stiff competition from other scaling solutions, which could limit its growth and adoption.
The technical complexity of the SKALE Network may deter some users and developers, potentially limiting network effects.
Cryptocurrency markets are highly volatile, and the value of SKL could fluctuate widely, leading to potential losses for investors.
Summary of the Whitepaper
The SKALE Network whitepaper outlines the design and architecture of a scalable, high-performance blockchain network that is interoperable with Ethereum. It introduces the SKALE token as a work and usage token that enables validators to participate in the network and earn rewards and developers to access network resources. The whitepaper details the network’s consensus mechanism, node setup, and the creation of elastic sidechains that can be customized to meet the needs of different applications. It emphasizes the network’s focus on resolving scalability and user experience issues while maintaining decentralization and security. The whitepaper also discusses the token distribution, economics, and governance model, highlighting the role of SKL in the ecosystem. The document provides a comprehensive overview of the technical solutions implemented by SKALE to achieve a scalable and user-friendly blockchain network.
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Price as per 07:41 AM • 10 Dec 2024
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What is the price of SKALE Network (SKL)?
The current price of SKALE Network (SKL) in INR is ₹5.84 INR.
What is the current SKL market cap?
The current market capitalization of SKALE Network (SKL) is ₹32,52,78,62,951.40 INR. This value represents the total market value of all coins in circulation, calculated by multiplying the current price of SKL by the number of coins in circulation.
What is the current supply of SKALE Network (SKL)?
The current supply of SKALE Network (SKL) is 5538894337 SKL. This figure represents the total number of coins that have been mined and are currently in circulation.
What is the 24 trading volume of SKALE Network (SKL)?
The 24-hour trading volume of SKALE Network (SKL) in INR is ₹7,63,65,11,408.40. This figure represents the total value of all SKL transactions across various exchanges within the last 24 hours.
How to Buy SKALE Network (SKL) in India?
To buy SKALE Network (SKL) via Mudrex, simply sign up and create an account on their platform. Proceed by completing the KYC process to verify your identity. Once verified, deposit funds into your account using the available methods. With your account funded, you're all set to start investing in SKL.
Can I buy SKALE Network (SKL) with UPI?
Yes, you can buy SKALE Network (SKL) with UPI on Mudrex, which accepts payments through popular UPI apps like Paytm, PhonePe, and Google Pay, offering a convenient and quick way to invest.
How to Convert SKALE Network (SKL) to Indian Rupee (INR)?
To convert SKALE Network (SKL) to Indian Rupee (INR), you can use our SKL/INR conversion rates in real time.