SKALE’s Monthly Transactions Reach New Record of 47 Million

The number of transactions on the SKALE network crossed 47 million.

The number of transactions on the SKALE network reached a new record in monthly terms, surpassing the 47 million mark one day before the end of May, according to data from The Block.

The SKALE chain has been around for about two years and started to gain traction in the summer of 2023.

SKALE is an Ethereum-compatible blockchain network offering zero gas fees, instant finality, and a modular architecture for building all kinds of decentralized applications (dapps). As a sidechain, it combines elements of layer 1 and layer 2.

It positions itself as a hybrid layer 1/layer 2 chain that partially borrows security features from Ethereum while offering performance and decentralization of a Layer 1.

Web3 Gaming Drives SKALE Activity

SKALE has a modular architecture where communities can build and manage hub chains by category, which act as a Web3 services layer. The most popular hub chains are Europa (for DeFi), Nebula (for gaming), Calypso (for NFTs), and Titan (for general apps).

The network also hosts app chains, which are dedicated chains that provide high performance for individual dapps, such as Exorde and Cryptoblades.

As of today, Nebula accounts for the largest share of transactions and users on the SKALE ecosystem, suggesting that the EVM chain is actively used for Web3 gaming.

So far, Nebula has seen over 30 million transactions performed in May, a new record high.

This month, Nebula had over 3.5 million users, which is about 90% of the active user base of the entire SKALE ecosystem.

However, unlike the transaction count, the number of active users on SKALE has been declining since February of this year, when it reached an all-time monthly high of over 7.5 million.

SKALE claims that it has saved over $7 billion in gas fees.

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