SKALE — Onboarding the Next Wave of Crypto Users
TLDR: Use our link here to access our ‘opinion and comparable’ report on SKALE. For a more in depth approach to SKALE, check out our deep dive here.
The Crypto-Verse and the Blockchain Trilemma
Since Bitcoin’s inception on January 3, 2009, blockchain and crypto projects have seemingly proliferated in every nook and cranny of our world. We see crypto projects ranging in goals from separating state and money, to simply giving creative power back to artists.
Regardless, crypto is promoting some honorable causes, and the industry’s growth emulates just that. However, despite crypto’s immense growth over the past decade, the projects that will persuade the next wave of users to jump ‘legacy-ships’ are likely going to have to compete in a more technical and competitive manner. For instance, crypto projects will have to find a way to scale to much larger capabilities — and do so in a seamless manner.
The difficulty when it comes to scaling crypto and blockchain-related projects is ‘The Blockchain Trilemma.’ Said trilemma acknowledges the shortfalls of blockchains in one of three regards: 1) speed, 2) security, and 3) decentralization. Even today, 14 years after Bitcoin was conceived, we are still struggling with this same problem. Yet, if we, as an industry, ever wish to disrupt legacy systems, we need to find a way to ensure our projects capitalize on all three of these blockchain pillars.
One possible solution to this blockchain trilemma, as mentioned above, is an emerging scaling solution for the Ethereum ecosystem known as SKALE. SKALE is a purpose-built blockchain scaling solution that is focused on bringing a network of interoperable, sharded-blockchains to the Ethereum network. SKALE’s hope, and many in the industry’s, is simple — create a better user experience through faster (and more seamless) technology that upholds crypto’s key pillars of security and decentralization.
Building the Future
In order to onboard the next wave of crypto-users, its paramount that our blockchain solutions offer technological capabilities that rival those of their centralized counterparts. With a more competitive technology stack, developers have even greater incentive to join the decentralized movement, which also encourages user adoption through a wider, and more diverse array of crypto projects and solutions.
It’s in this regard that SKALE aims to accomplish their goals — offer lightning fast blockchain technology atop a secure and decentralized base layer that is Ethereum. In our latest blockchain metric tests — SKALE managed to come out on top in both Transactions per Second (TPS) and Time to Finality (TTF). First in their respective categories, SKALE managed to clock an average of 397 TPS and 1.46s in time to finality. Beyond their technological capabilities, SKALE is seeing immense growth in both the quantity (as well as quality) of projects. Along with the enhanced number and use-cases, SKALE is starting to see significant traction in usership for these dApps. Most notable of which are projects such as Exorde and Cryptoblades — which we highlight in detail in our deep dive report.
SKALE has managed to onboard projects to their network that are deploying high-demand dApps. To better understand SKALE’s ballooning demand, their monthly transaction count doubled in three months, jumping from 6M to 12M between October ’22 and January ’23. Beyond transaction numbers, SKALE is also seeing a monumental jump in unique users, with numbers increasing nearly 200% in the same time frame (<40,000 in October to ~100,000 users in June).
The Deep Dive and Dartmouth Blockchain’s Concluding Remarks
Below, we’ve attached our series of blockchain metric tests. Note SKALE’s performance, seriously outperforming competing chains, including multiple chains that advertise themselves as ‘crypto’s scaling solution.’
To learn more about SKALE, our thoughts on the project, and more conclusive data relating to SKALE’s blockchain performance, use our links offered below.
In conclusion, SKALE exists as a potential expedient to the blockchain trilemma. With promising technology and an extremely dedicated team, SKALE warrants further research and attention from the crypto-verse.
Please note the following reports were both sponsored by SKALE Labs. As a general disclaimer, please understand the inherent risks of crypto in general, as nothing we’ve published in the past should be taken as financial or life advice. Instead, we implore you, the reader, to use our research for exactly what it is — research. Finally, understand that our research and gathered results may change over time and by trial — blockchain performance metrics are volatile figures, and can change dependant on load, time, date, and style, all of which can change at a moment’s notice. We implore readers to verify results for themselves.
Dartmouth Blockchain’s Op-Ed piece, including our blockchain metric tests, opinions on SKALE, and our interpretation of a bull and bear case for the project.
Dartmouth Blockchain’s deep dive into SKALE — including an analysis of SKALE’s history, technology, ecosystem, and token. For more information, please utilize SKALE’s website, linked here: www.skale.space
