SKALE Enhances Scalability and Efficiency with Pacifica V3 Upgrade: Accelerates Block Mining Speed by 108% and Increases Transaction Throughput by 122%
Brussels, Belgium, July 10th, 2024 - SKALE, the gas-less EVM-compatible modular blockchain network, has launched the Pacifica V3 upgrade, solidifying its position as one of the world's most efficient blockchains. This upgrade brings significant advancements to SKALE Network's capabilities, including improved transaction speed and predictability, enhanced network performance, and improved developer tools.
"At SKALE, the commitment to scaling through modularity since Day 1 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 most performant blockchain in the world in a number of major 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."
Key features of the upgrade include a 108% increase in block mining speed, a 122% increase in transaction throughput, EIP-1559 support for Type 1 & 2 transactions, Interchain Messaging Agent [IMA] metrics for enhanced reliability, improved SKALE contract functionality, and amplified Web3 tool compatibility. This means that building on SKALE is now more powerful and efficient than ever, with significant improvements in average transactions per second and block mining time.
In June 2024, SKALE saved users $400 million in gas fees while successfully supporting roughly 55 million transactions. The forthcoming V3.1 update in the last half of 2024 will further optimize performance and support all pre-deployments in "skale-contract" functionality.
SKALE has integrated new wallets to expand its ecosystem and provide users with more options and a smoother experience when managing digital assets. For more information, users can visit SKALE.space.
In conclusion, the SKALE Pacifica V3 upgrade is a game-changer in the world of blockchain technology. With improved scalability, efficiency, and developer tools, SKALE Network is well-positioned to onboard more impactful dApps and users without scalability being an issue. This upgrade not only benefits developers but also users, as it enhances the overall experience of using the SKALE Network. If you're looking to invest in cutting-edge blockchain technology with real-world applications, SKALE should definitely be on your radar.