An interoperable layer-2 Ethereum (ETH) scaling solution is on the rise after the announcement of mainnet upgrades.
According to a new blog post by Chadwick Strange’s vice president, the decentralized application protocol Scale (SKL)has released four version 2.0 staging chains that will be part of the latest testnet, also known as “testnet”.
Skale is a platform designed to help Web 3.0 developers circumvent congestion on the ETH blockchain. Also, Strange says the testnet will run for about two weeks before performing the Skale 2.0 mainnet upgrade.
Strange also notes that due to the highly decentralized nature of the blockchain, it may take several days for validators or blockchain participants responsible for verifying transactions to fully update Skale. In such developments, such fluctuations in the price of the cryptocurrency can often be experienced in the process leading up to the launch.
“Unlike a traditional software release, this is a decentralized effort with 46 Validator organizations and 150+ nodes. This means that it can take several days for network upgrades to occur, as validators often run different hardware configurations and different software.
According to Skale, the testnet serves as a way to familiarize validators with concepts critical to the security of the protocol, such as random node selection and frequent node rotation.
After this announcement, Skale, which experienced a great movement in its price, increased by an astonishing 102 percent from $0.138, a seven-day low, to $0.322. Stabilizing since then, the cryptocurrency is trading at $0.25 at the time of writing, up over 10% in the last 24 hours.
You can check the price movements here.
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