Brussels, Belgium, July 10, 2024, Chainwire
SKALE is improving scalability and efficiency for over 10 million monthly active users, cementing its position as one of the most efficient blockchains in the world.
SKALE, the gasless EVM-compatible modular blockchain network, today released the Pacifica V3 upgrade that accelerates block mining speed by 108% and increases transaction throughput by 122%. Leveraging its unique modular AppChain architecture, this upgrade brings significant advancements to SKALE Network’s capabilities, including improved transaction speed and predictability, enhanced network performance, and enhanced developer tools.
“At SKALE, a commitment to scaling through modularity from day one drives every aspect of its architecture, including this massive upgrade,” said Jack O’Holleran, Co-Founder and CEO of SKALE Labs. “This upgrade will make SKALE the world’s top-performing blockchain across several important categories. SKALE is built on a founding principle of constant innovation. This upgrade underscores SKALE’s commitment to driving innovation and scalability in blockchain technology.”
These improvements, designed with both users and developers in mind, position SKALE Network well to incorporate higher-impact decentralized applications and users without scalability being an issue. Key features include:
- 108% increase in block mining speed – significantly speeds up the block creation process.
- 122% increase in transaction throughput – increases the number of transactions processed per second.
- EIP-1559 support for Type 1 and 2 transactions: Enables automatic fee adjustments based on network demand, ensuring predictable transaction fees.
- Cross-chain messaging broker [IMA] Metrics for improved reliability: Reduces the maximum potential time for IMA transfers by 50%, ensuring more stable and reliable transfers.
- Improves SKALE Contract Functionality – New library integration improves user experience with streamlined contract implementation and expanded functionality.
- Expands Web3 tool support: Improves integration with web3 tools and wallets and expands developer accessibility and usability.
This upgrade means that building on SKALE is now more powerful and efficient than ever: average transactions per second (TPS) for sFUEL transfers has increased by approximately 120%, while average block mining time has been cut in half.
“I’m excited to share the incredible advancements of the SKALE Pacifica V3 upgrade,” said Stan Kladko, Co-Founder and CTO of SKALE Labs. “With Pacifica, SKALE’s average transactions per second (TPS) for transfers has more than doubled to over 300, and block mining time is now under 2 seconds. Additionally, new deployment control functionality improves security by allowing contract owners to manage permissions more effectively, while the stability and reliability of IMA transfers has also been significantly improved.”
SKALE has integrated new wallets, including Core Crypto Wallet & NFT Extension and Rabby Wallet, to expand its ecosystem and provide users with more options and a smoother experience when managing digital assets.
In the upcoming V3.1 update coming in the second half of 2024, SKALE will support all previous implementations of the “skale-contract” functionality and optimize performance through disk partitioning for chains.
As of June 2024, SKALE has saved users $400 million in gas fees while successfully supporting approximately 55 million transactions.
For more information, users can visit SKALE.space.
About SKALE:
SKALE Labs is the foundation behind SKALE Network, a gas-free, EVM-compatible modular blockchain that is designed to provide a first-class experience for developers of gaming, AI, SocialFi, and web3 applications. As of Q1 2024, SKALE Network serves over 10M monthly active users and saves billions in monthly gas fees with its innovative modular architecture. SKALE chains offer high throughput, zero gas fees, enhanced security, and instant finality, making them ideal for a wide range of decentralized applications. Committed to driving mass adoption of Web3 technologies, SKALE enables developers and enterprises 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, cross-chain messaging, and zero-fee coin minting. SKALE Labs, which harmonizes speed, security, and decentralization, was founded in 2018 by Jack O'Holleran and Stan Kladko, PhD.
ContactPublic Relations ManagerKyle HeiseSerotonin[email protected]
This article was originally published on Chainwire
