SKALE announces Go-Live as it goes head to head with Polygon (MATIC)
SKALE, a multichain network of unlimited Ethereum blockchains, has announced that it has rolled out the first few dapps onto its mainnet today.
The company has said that it picked out a handful of companies that were allowed to launch on the mainnet from among the 100s of applications that it had for the same. Each of these dapps and protocols will have its own specific SKALE chains which means that SKALE would truly be the internet of blockchains that is capable of the biggest scaling Layer 2 solution of all.
The first few partners that were onboarded are Boot.Finance, Covey, CurioDAO, HUMAN Protocol, Ivy, and Minds. SKALE is a multichain that is capable of ‘scaling’ up to any number of blockchain networks that can be assigned to other dapps and networks which could then onboard millions of users onto the main network and their own chains as well.
“To find the best investors, Covey records trade data for every investor on an immutable ledger open to anyone, we started on Ethereum but high transaction costs made this unfeasible,” said Brooker Belcourt, founder of Covey. “We knew we needed a scalability solution and SKALE
offered us precisely what we needed at a reasonable cost, with remarkable speed, and a connection back to Ethereum.”
This is one more Layer 2 solution of Ethereum that has been hit hard by the launch and growth of several such networks. The biggest and most famous of them all has been Polygon (MATIC) which also seeks to build an internet of blockchains and now with the launch of SKALE which plans to do a similar thing, it is likely to be a big competition between all the Layer 2 protocols.
So far this year, Polygon has been operating with almost no competition which has seen it grow very strongly over the last few months as developers have tended to shift towards this network and avoid Ethereum due to high gas fees and also due to scaling issues. The developers would likely continue to look for alternate solutions until Ethereum comes out with ETH2.0 next year which is expected to resolve these issues for good. Till then, the Layer 2 protocols would be enjoying their time in the sun and we would have to wait and see what ETH2.0 brings up and how the users and developers would respond to that.