SKALE Network Skyrockets Blockchain Scalability, Fueling Mass Adoption in Q1

SKALE Network, a gas-less Ethereum scaling solution, experienced significant growth in Q1 2024. With over 300 million transactions processed, it saved users $3.1 billion in gas fees. SKALE's AppChains provide high performance, zero gas fees, enhanced security, and instant finality, making them ideal for a wide range of decentralized applications. Key highlights from the quarter include major advancements in blockchain scalability and transaction processing, strategic partnerships, and notable user growth across 20 AppChains.

SKALE Network Propels Blockchain Scalability to New Heights, Driving Mass Adoption in Q1

San Francisco, CA, United States, April 23rd, 2024

SKALE Network, a gas-less EVM-compatible blockchain tailored for seamless Ethereum scaling, has achieved groundbreaking milestones in Q1 2024, solidifying its position as a transformative player in blockchain scalability.

Unveiling the Power of Blockchain Scalability

SKALE Network's innovative approach to blockchain scalability has saved its users a staggering $3.1 billion in gas fees during Q1, a testament to its efficiency and cost-effectiveness. In comparison, prominent blockchains like BNB Chain and AVAX collectively generated over $330 million in gas fees in just March alone.

SKALE's technological prowess is further evident in its significant Mainnet advancements. With the successful deployment of Release 2.2 in January, block mining speed on the Mainnet surged by an impressive 30%. Release 2.3, slated for February, heralds enhanced compatibility with Ethereum. Moreover, SKALE surpassed its 100 millionth block, a testament to its unwavering reliability.

Exponential Growth in Transaction Volume

The SKALE Network has witnessed an exponential growth in transaction volume, surpassing 300 million transactions in January and maintaining a robust average of over 30 million transactions monthly. This surge in activity validates SKALE's ability to handle high transaction workloads without compromising performance or security.

A Catalyst for Mass Adoption

SKALE's user base has experienced a remarkable surge, boasting an impressive 17 million User Active Wallets (UAW) added in Q1. This exponential growth is attributed to the platform's accessibility and scalability, empowering developers and projects to unlock the full potential of blockchain technology.

A Platform for Limitless Innovation

SKALE's Q1 success was fueled by the addition of over 70 projects and integrations, spanning a vast array of industries. From artificial intelligence (AI) and gaming to digital payments and metaverse applications, SKALE's versatility has attracted a diverse ecosystem of projects seeking to leverage its gas-less infrastructure.

"We are thrilled to witness the explosive growth and adoption of SKALE during Q1 2024," said Jack O'Holleran, Co-Founder and CEO of SKALE Labs. "This momentum is a testament to the transformative impact SKALE Network is having on users and projects worldwide. In March alone, SKALE saved almost $2 billion in gas, enabling millions of transactions to be processed seamlessly through our zero gas fee model."

A Glimpse into the Future

SKALE's roadmap for Q2 2024 is brimming with continued partnerships and integrations, further solidifying its position as a leading scaling solution. The platform's gas-less infrastructure will empower a new wave of projects whose innovative use cases can only be realized on SKALE.

By unlocking gas-less mechanisms across blockchains, SKALE aims to make a tangible impact in industries as diverse as decentralized finance (DeFi), sports, and supply chain management.

About SKALE

SKALE, a gas-less EVM-compatible blockchain designed for secure Ethereum scaling, is engineered to provide a world-class experience for games, NFT platforms, and Web3 applications. With over 10 million monthly active users and billions saved in monthly gas fees, SKALE's AppChain model has revolutionized blockchain scalability.

SKALE AppChains offer unparalleled performance, zero gas fees, enhanced security, and instant finality, making them an ideal choice for a wide range of decentralized applications. Committed to driving the mass adoption of Web3 technologies, SKALE empowers developers and businesses to build scalable, efficient, and user-centric blockchain applications.

On the SKALE network, developers can deploy their own EVM-compatible blockchain, unlocking advanced features such as AI/ML smart contracts, on-chain file storage, interchain messaging, and zero-cost minting. Harmonizing speed, security, and decentralization, SKALE Labs was founded in 2018 by Jack O'Holleran and Stan Kladko, PhD.

For more information, visit SKALE.space or follow on Twitter.com/SKALENetwork.