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Ethereum Side Chain SKALE Releases Ecological Report for Q1 2023 Project

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According to reports, Ethereum side chain SKALE has released an ecological report for the Q1 2023 project. During the quarter, SKALE had an average of 65000 active users/wallets pe

Ethereum Side Chain SKALE Releases Ecological Report for Q1 2023 Project

According to reports, Ethereum side chain SKALE has released an ecological report for the Q1 2023 project. During the quarter, SKALE had an average of 65000 active users/wallets per month, promoting over 9 million transactions and saving over $100 million in gas costs. Since the launch of SKALE V2 in June 2022, the usage of the network has significantly increased, handling over 67 million transactions from over 415000 independent wallets.

Ethereum Sidechain SKALE Q1 Report: Monthly average active users are 65000, saving over $100 million in gas costs per month

SKALE, a side chain of Ethereum, has recently released their ecological report for Q1 of 2023. This report reveals some incredible statistics for the network, showcasing the growth and success of the SKALE platform over the last few months. SKALE has become an essential blockchain tool for developers in recent years, and the ecological report highlights why it continues to be a popular choice.

SKALE’s Active User and Transaction Numbers

An average of 65,000 active users/wallets per month has been frequenting SKALE’s platform during this quarter. This statistic is impressive, considering that it only represents one-quarter of 2023. SKALE is experiencing continued growth, expanding their user base regularly.
Additionally, SKALE promoted over 9 million transactions in the quarter, which equates to over 3 million transactions per month. These figures demonstrate the scalability and efficiency of the SKALE platform, and how it is accommodating its user requirements.
Also worth mentioning is the amount of gas costs saved by SKALE users. The platform allowed users to save over $100 million in gas costs, representing substantial savings for both users and developers.

SKALE’s Growth Since the Launch of SKALE V2

SKALE V2 was launched in June 2022, and since then, the network’s usage has increased remarkable growth. In the past nine months, SKALE has handled over 67 million transactions initiated by 415,000 independent wallets.
These figures indicate that SKALE is becoming an increasingly popular choice for developers who are looking for a highly scalable and efficient way to manage transaction traffic. It is excellent news for SKALE enthusiasts, as it shows that the platform is becoming more reliable and stable with increased usage.

The Advancements of SKALE

SKALE continues to evolve, and its platform has been providing a lot of valuable improvements, enhancing user experience and efficiency. The launch of SKALE V2 has been a significant development, which has significantly increased the platform’s scalability.
Much of the advancement of SKALE can be attributed to the community’s involvement in development. Community members contributed to an increased adoption rate and the growth of the blockchain ecosystem, which helped improve the platform.

The Benefits of SKALE

SKALE was designed specifically to solve the scalability problems of Ethereum. As a side chain, it operates in parallel with the main Ethereum network, allowing developers to create decentralized applications (dApps) with much higher performance, lower costs, and transaction confirmation times.
Its unique decentralized access control system ensures that only authorized parties have access to data, and its advanced sharding technology allows it to handle vast amounts of traffic without hardware or software limitations, resulting in improved performance and flexibility.

Conclusion

The SKALE network has been steadily growing since its launch, and the latest ecological report proves this trend. With an average of 65,000 active users/wallets per month, over 9 million transactions, and $100 million saved in gas costs, SKALE continues to deliver exceptional performance for the blockchain community. Its increasing growth since the launch of SKALE V2 shows that the platform is becoming more reliable and stable with expanded usage.

FAQs

Q1. What is SKALE, and what is its purpose?
SKALE is a side chain of Ethereum that operates in parallel to the main Ethereum network, allowing developers to create dApps with better performance, lower costs, and transaction confirmation times. It is designed to solve Ethereum’s scalability problems.
Q2. What is different about using SKALE compared to Ethereum?
SKALE’s advanced sharding technology allows it to handle vast amounts of traffic, resulting in better performance and flexibility compared to Ethereum. Additionally, its unique decentralized access control system ensures that only authorized parties have access to data.
Q3. What are the benefits of using SKALE?
Using SKALE, developers can create dApps with better performance, lower costs, and transaction confirmation times. It is a great solution to Ethereum’s scaling problem that offers improved performance, efficiency, and flexibility.

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