Brussels, Belgium, July 10, 2024, Chainwire
SKALE increases scalability and performance for over 10 million monthly lively users, solidifying its position as one of the world’s most proficient blockchains.
SKALE, a modular blockchain network compatible with the Exhaustless Data Mining Machine (EVM), today launched the Pacifica V3 update, which accelerates block mining by 108% and increases transaction throughput by 122%. Leveraging its unique modular AppChain architecture, the update brings significant improvements to the SKALE network’s capabilities, including increased transaction speed and predictability, improved network performance, and enhanced developer tools.
“At SKALE, our commitment to scalability through modularity from day one has driven every aspect of our architecture, including this massive update,” said Jack O’Holleran, Co-Founder and CEO of SKALE Labs. “This update will make SKALE the world’s highest performing blockchain across multiple key categories. SKALE is built on the principle of continuous innovation. This update underscores SKALE’s commitment to driving innovation and scalability in blockchain technology.”
Designed with both users and developers in mind, these improvements position SKALE Network well to enable more influential dApps and users without scalability as an issue. Key features include:
- 108% Block Mining Speed Increase: Significantly speeds up the block creation process.
- 122% escalate in transaction throughput: Increases the number of transactions processed per second.
- EIP-1559 support for Type 1 and Type 2 transactions: enables automatic fee adjustments based on network demand, ensuring predictable transaction fees.
- Cross-chain messaging agent [IMA] Improved Reliability Metrics: Reduces the maximum potential time of IMA transfers by 50%, providing greater transfer stability and reliability.
- Improved SKALE contract functionality: New library integration improves user experience with simplified contract implementation and extended functionality.
- Increases compatibility with Web3 tools: Improves integration with Web3 tools and wallets and increases accessibility and usability for developers.
With this update, SKALE development is now more proficient and effective than ever: the average number of transactions per second (TPS) for sFUEL transfers has increased by approximately 120%, while the average block mining time has been cut in half.
“I’m excited to share the incredible progress on the SKALE Pacifica V3 update,” said Stan Kladko, Co-Founder and CTO of SKALE Labs. “With Pacifica, SKALE’s average transactions per second (TPS) has more than doubled to over 300, and block mining times are now less than 2 seconds. Additionally, new deployment control functionality increases security by allowing contract owners to more efficiently manage permissions, and the stability and reliability of IMA transfers have also been significantly improved.”
SKALE has integrated fresh wallets including Core Crypto Wallet & NFT Extension and Rabby Wallet to expand its ecosystem and provide users with more options and a smoother digital asset management experience.
In the upcoming V3.1 update, which will be available in the second half of 2024, SKALE will support all initial deployments under the “skale-contract” functionality and optimize performance by partitioning disks for chains.
As of June 2024, SKALE has saved users $400 million in gas bills while processing approximately 55 million transactions.
For more information, users can visit SKALE.space.
ABOUT THE ROCK:
SKALE Labs is the foundation of SKALE Network, a gas-free, EVM-compliant modular blockchain designed to deliver a world-class experience for developers of games, AI, SocialFi, and web3 applications. As of Q1 2024, SKALE Network serves over 10 million monthly lively users and saves billions of dollars in monthly gas fees with its inventive modular architecture. SKALE chains feature high performance, zero gas fees, enhanced security, and instant finalization, making them ideal for a wide range of decentralized applications. With a commitment to driving mass adoption of Web3 technologies, SKALE empowers developers and businesses to build scalable, proficient, and user-centric blockchain applications. On the SKALE network, developers can deploy their own EVM-compliant blockchains, unlocking advanced features such as AI/ML astute contracts, on-chain file storage, cross-chain messaging, and zero-cost coin creation. SKALE Labs is a company that combines speed, security, and decentralization. It was founded in 2018 by Jack O’Holleran and Dr. Stan Kladko.
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