Skale Network (SKL) is a revolutionary network of interconnected blockchains that offers developers the opportunity to achieve high transaction speeds and eliminate gas fees by migrating their projects from Ethereum. Founded in 2018 by Jack O’Holleran and Stan Kladko, Skale Network is dedicated to supporting the development of NFTs, games, and decentralized applications (dApps) through its EVM-compatible blockchains. By integrating with Ethereum and utilizing its own consensus mechanism and pooled security model, Skale Network enables fast, secure, and gas-free transactions. In this article, we will explore the answers to two commonly asked questions: What is Skale Network (SKL) and how can one purchase it with TRY?
Table of Contents
1. What is Skale Network (SKL)?
2. How to Buy Skale Network (SKL) with TRY?
3. How to Open an Account on Binance TR?
4. How to Verify an Account on Binance TR?
5. How to Deposit TRY on Binance TR?
6. How to Buy SKL Coin with TRY on Binance TR?
7. What is Binance TR?
What is Skale Network (SKL)?
Skale Network is a cutting-edge network of scalable and interconnected blockchains designed to assist developers in achieving high transaction speeds and eliminating gas fees by migrating their projects from Ethereum. Established in 2018 by Jack O’Holleran and Stan Kladko, Skale Network aims to enhance the overall user experience in the blockchain industry by making blockchain applications fast, user-friendly, and free for all users. It creates a fast and gas-free ecosystem that supports the development of EVM-compatible blockchains, NFTs, games, dApps, and more.
Skale Network operates using its own unique consensus mechanism while seamlessly integrating with Ethereum. This design combines Ethereum’s Proof of Stake (PoS) network with Skale Network’s pooled security model to offer high-speed, secure, and gas-free transactions. This architecture is particularly advantageous for Web3 and gaming applications, as it enhances cost efficiency, performance, and contributes to Ethereum’s scalability for widespread adoption.
Skale Network is a modular and multi-blockchain network that has the potential to support unlimited independent, interoperable, and EVM-compatible blockchains. Users have the ability to deploy their existing Ethereum-based smart contracts directly onto the Skale Network blockchain, benefiting from high transaction speeds and low latency. Skale Network’s blockchains can execute smart contracts, decentralize storage, execute aggregation contracts, and much more. The modified EVM functionality enables various smart contract use cases, such as storing larger files on network nodes via the FileStorage smart contract. Additionally, inter-blockchain communication enables token and NFT transfers between different Skale Network blockchains.
Each blockchain on Skale Network is highly configurable, allowing users to select their preferred consensus protocols, virtual machines, and security measures tailored to their specific needs. Developers can choose to have their own dedicated Skale Network blockchain or join a community blockchain. To utilize a Skale Network blockchain, developers pay a network subscription fee through a smart contract called Skale Network Manager on Ethereum. This fee-sharing model between validators and delegators enables Skale Network to offer gas-free transactions to end users.
The project employs a decentralized node network to establish a pooled security system. Nodes provide resources to multiple Skale Network blockchains, including storage and low latency, and node owners manage the native utility token SKL. Skale Network consists of the Skale Network Manager and Skale Network Nodes. The SKALE Manager operates on the Ethereum mainnet and facilitates the creation and termination of Skale Network blockchains. Validators running Skale Network Nodes stake SKL tokens on Ethereum and support multiple Skale Network blockchains by meeting hardware requirements. Nodes are audited by peer validators to ensure decentralization and are rewarded with SKL tokens based on their performance.
How to Buy Skale Network (SKL) with TRY?
For investors in Turkey looking to purchase Skale Network (SKL), Binance TR is the most suitable cryptocurrency exchange. Binance TR allows users to quickly create accounts and offers over 100 cryptocurrencies, including SKL, for buying and selling. To purchase Skale Network (SKL) with TRY on Binance TR, follow the steps below.
How to Open an Account on Binance TR?
Opening an account on Binance TR is a straightforward process. Simply visit trbinance.com and proceed to the “Create Account” step. During the initial account creation step, you will be required to provide basic information such as your email address, phone number, name, date of birth, nationality, and T.C. identity number.
After entering all the requested information accurately and completely, the next step involves email and SMS verification to confirm your details. Once this process is completed, you can proceed to the second step, which is identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification on Binance TR is a crucial security measure that must be completed before engaging in cryptocurrency trading or during the account creation process. This verification process is essential to safeguard both the user and the cryptocurrency exchange. You can perform the verification process using your phone or through the official Binance TR website. Please note that you will need your mobile phone to verify your identity on the website.
To verify your identity on the Binance TR website, hover over the “Profile” option at the top right and click on “Identity Verification and Limits” from the drop-down menu. Then click on “Verify.” After this step, you will need to scan the QR code displayed using your phone’s camera and continue the process on your phone. If you are unable to scan the QR code, click on “Copy URL” to send the identity verification address to your phone via SMS.
Once you enter the address on your phone or scan the QR code, a screen similar to the one below will appear. From here, tap on the “Identity” option to proceed.
Then a screen like the one below will be displayed. To continue the verification process, select the document type that best suits you.
After selecting the document type, proceed by tapping on “Upload Front Side.” Take a photo of the front side of your document based on the selected document type and then tap on “Upload Back Side” to take a photo of the back side of the document and upload it. Ensure that the images are clear and that the information on the document is easily readable.
Next, tap on the “Selfie” option. Your phone’s front camera will open, and you will need to scan your face. Once the camera is open, make sure your face fills the camera area as much as possible.
After correctly and completely following all these steps, your identity verification process will be completed in a short period of time.
How to Deposit TRY on Binance TR?
Depositing Turkish lira (TRY) into your Binance TR account is a simple process that can be done from any bank. You can deposit funds and trade 24/7 using your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. For other banks, you can deposit up to 50,000 TRY 24/7 using FAST. Deposits over 50,000 TRY from other banks are processed during EFT hours.
To deposit money into your Binance TR account, go to trbinance.com and hover over the “Wallet” option at the top left of the homepage. Then click on “Deposit” from the drop-down menu.
A page like the one below will appear. You can proceed with the deposit process by selecting your preferred bank from this page. If your preferred bank is not yet integrated with Binance TR, click on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST transfer to that bank. Use the information displayed on the page of your preferred bank to transfer the desired amount into your Binance TR account via transfer, EFT, or FAST.
Once your bank completes the transfer process, the funds you sent will be automatically reflected in your wallet within your Binance TR account.
How to Buy SKL Coin with TRY on Binance TR?
After completing the deposit process, you can proceed to buy SKL coin with TRY by clicking on the “Buy-Sell” option in the top left menu of the Binance TR website.
Upon clicking this option, the page below will appear. Enter “SKL” in the search section on the right side of the page and click on the SKL/TRY option from the search results to access the SKL purchase page with TRY.
The SKL trading page will open, as shown below. In the red-boxed area, enter the price at which you want to buy SKL in the first box and the quantity of SKL you wish to purchase in the second box. After entering the desired amount, complete your purchase by clicking the “Buy SKL” button.
What is Binance TR?
Binance TR is the cryptocurrency exchange platform launched by Binance, the world’s largest cryptocurrency exchange by trading volume, exclusively for cryptocurrency investors in Turkey in 2020. Headquartered in Istanbul, Binance TR can be accessed at trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) through direct bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users supported by Binance’s core functionalities can access market-leading spot trading liquidity, a robust matching engine, advanced security protocols, custody solutions, and risk controls through Binance TR.
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Disclaimer:
The information provided in this article does not constitute investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry inherent risks. It is important to conduct thorough research and analysis before engaging in any cryptocurrency investments.
