SAN FRANCISCO, Feb. 13, 2019 /PRNewswire/ -- SKALE Labs Inc. today announced the launch of the SKALE DevNet. The SKALE Network helps decentralized applications (dApps) scale execution of smart contracts and transactions. The DevNet is a distributed network that acts as a secure, Ethereum integrated, developer friendly, testing environment. This release precedes the SKALE MainNet launch which is a fully permissionless, open source, P2P network supported by the SKALE Foundation, scheduled for release later this summer.
Following the DevNet launch, developers at the ETHDenver Hackathon will be able to run Ethereum dApps on the SKALE DevNet in a fully integrated manner with Ethereum and other related Web3 infrastructure and tooling. Effective immediately, the DevNet is available to developers upon acceptance into the SKALE Innovator Program.
With SKALE, any developer familiar with Amazon EC2 or Google Cloud can easily create a SKALE Chain instance. Server and chain configuration all happen automatically on behalf of the user. In under a minute, a developer's dApp can access fast, secure, and cost-effective smart contract execution. SKALE also provides easy-to-understand documentation and plug-and-play code snippets to help developers build applications rapidly. Using the SKALE DevNet, applications can achieve millions of transactions per second across the network at a fraction of standard costs. The network can scale linearly to millions and potentially billions of transactions per second.
"We are obsessed with helping developers scale their Ethereum dApps. The current scaling pains are real in terms of cost and latency. They can cripple a project. Devs need a solution now, not two years from now," said Jack O'Holleran, CEO of SKALE Labs. "I'm incredibly proud of the world-class tech our team has created, but perhaps the greatest differentiator of the project is that we are executing and delivering product."
This news comes following an announcement in October 2018 that SKALE Labs raised $9.65M from Multicoin Capital, Aspect Ventures, Blockchange Ventures, Boost.VC, Canaan Venture Partners, Galaxy Digital, FLOODGATE Fund, Hack.VC, Neo Global Capital, Signia Venture Partners, and others. The project is tracking against its development timeline. For more frequent updates, please visit the SKALE blog.
"ETHDenver is the perfect place to debut our technology and get it into the hands of the people who are actually building dApps," said Stan Kladko, CTO of SKALE Labs. "This is the first in a line of exciting product releases over the next few months. In addition to consensus, smart contract execution and inter-chain messaging, we will provide storage and other required components to scale a decentralized application. We aim to bring a suite of AWS-like performance and configuration capabilities to developers."
Parties interested in being among the first to develop dApps using the SKALE infrastructure should apply to the SKALE Innovator Program here.
Project and technical details are available via the SKALE Website and Medium Page:
https://www.skalelabs.com/ and www.medium.com/skale
About SKALE Labs:
SKALE's mission is to help developers scale Decentralized Applications (dApps) in an easy, fast and secure manner. Decentralized Systems need greater throughput and lower transaction fees in order to meet the requirements of dApps. Currently dApps with high frequency transactions are unusable due to latency and high transaction fees. SKALE acts as Layer 2 for high speed consensus and empowers dApps to run smart contracts at the rate of millions per second with platforms such as Ethereum. The SKALE Network is a fully decentralized, open-source P2P network that is run using the SKALE utility token which is staked by dApps and supported by SKALE Validator Nodes.
SOURCE SKALE Labs, Inc.
