Skale Network (SKL) is a revolutionary network of interconnected blockchains that provides developers with a scalable and efficient platform to move their projects away from Ethereum. Founded in 2018 by Jack O’Holleran and Stan Kladko, Skale Network supports the development of NFTs, games, and decentralized applications by offering EVM-compatible blockchains. It seamlessly integrates with Ethereum while utilizing its own consensus mechanism and pooled security model to facilitate high-speed, secure, and gas-free transactions. In this article, we will address two commonly asked questions: What is Skale Network (SKL) and how can one purchase Skale Network (SKL) using TRY.
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 groundbreaking network of scalable and interconnected blockchains designed to enable developers to achieve high throughput and zero 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 providing fast, user-friendly, and cost-free blockchain applications. It creates an ecosystem that supports the development of EVM-compatible blockchains, NFTs, games, decentralized applications (dApps), and more. For the latest financial and business news, visit COINTURK FINANCE.
Skale Network operates its own consensus mechanism while seamlessly collaborating with Ethereum. This architecture combines Ethereum’s Proof of Stake (PoS) network with Skale Network’s pooled security model to facilitate swift, secure, and gas-free transactions. This design is particularly advantageous for Web3 and gaming applications, as it enhances cost efficiency, performance, and Ethereum’s scalability for mass adoption.
Skale Network is a modular and multi-blockchain network that has the potential to support unlimited independent, interoperable, and EVM-compatible blockchains. Users can deploy their existing Ethereum-based smart contracts directly on the Skale Network blockchain, benefiting from high throughput and low latency. Skale Network’s blockchains can execute smart contracts, decentralize storage, implement aggregation contracts, and more. The modified EVM functionality enables various smart contract use cases, such as storing larger files on network nodes through the FileStorage smart contract. Inter-blockchain communication allows for seamless token and NFT transfers between different Skale Network blockchains.
Each blockchain within the Skale Network is highly configurable, allowing users to select their preferred consensus protocols, virtual machines, and security measures based on their specific requirements. Developers can choose to have their individual Skale Network blockchain or join a community blockchain. To utilize a Skale Network blockchain, developers pay a network subscription fee via a smart contract called Skale Network Manager on Ethereum. This fee-sharing model between validators and delegators enables Skale Network to provide zero gas fees to end users.
The project employs a decentralized node network to establish a pooled security system. Nodes contribute resources to multiple Skale Network blockchains, including storage and latency, and node owners manage the native utility token SKL. Skale Network encompasses the Skale Network Manager and Skale Network Nodes. The SKALE Manager operates on the Ethereum mainnet and supports 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 undergo peer validator audits 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 seeking to purchase Skale Network (SKL), Binance TR is the most suitable cryptocurrency exchange. Binance TR provides a quick account creation process 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 simple process. Visit trbinance.com and proceed to the “Create Account” step. In the initial stage of account creation, you will be required to provide basic information such as email address, phone number, name, date of birth, nationality, and T.C. identity number.
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After providing the requested information accurately and completely, the information will be verified through email or SMS. Once this process is completed, proceed to the second step, which is identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification is a crucial security measure that must be completed before engaging in cryptocurrency trading and during the account creation process on Binance TR. This process ensures the protection of both the user and the cryptocurrency exchange. Identity verification can be carried out either through your mobile phone or the official Binance TR website. Keep in mind that you will need your mobile phone to verify your identity on the website.
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On the Binance TR website, hover over the “Profile” option at the top right corner, click on “Identity Verification and Limits” from the dropdown menu, and then select “Verify.” After this step, you will need to scan the QR code that appears using your phone’s camera and continue the process on your phone. If you are unable to scan the QR code, click “Copy URL” to receive the identity verification address via SMS on your phone.
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Once you enter the address on your phone or scan the QR code, a screen like the one below will appear. Tap on the “Identity” option to proceed with the verification process.
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The following screen will allow you to select the document type that is most suitable for you. Choose the appropriate document type to continue the verification process.
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After selecting the document type, tap on “Upload Front Side.” Take a clear photo of the front side of your ID card or driver’s license based on the selected document type, and then tap on “Upload Back Side” to capture and upload a photo of the back side of the document. Ensure that the images are clear and that the information on the document is easily readable.
Proceed by tapping the “Selfie” option. Your phone’s front camera will open, and you will need to scan your face. Make sure your face fills the camera area as much as possible once the camera is activated.
Once you have completed all these steps accurately and thoroughly, your identity verification process will be finalized within a short period of time.
How to Deposit TRY on Binance TR?
Depositing Turkish lira (TRY) into your Binance TR account is a straightforward process that can be done from any bank. You can deposit funds and engage in trading activities 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 exceeding 50,000 TRY from other banks are processed during EFT hours.
To deposit funds into your Binance TR account, go to trbinance.com and hover over the “Wallet” option at the top left of the homepage. From the dropdown menu, click on “Deposit.”
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The following page will open, and you can continue the deposit process by selecting your preferred bank. If your bank is not yet integrated with Binance TR, click on the “Other Banks” option.
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In this example, we will continue with Vakıfbank, but the process is the same for all other banks. Selecting the Vakıfbank option will display an account name and IBAN address to which you can make a transfer, EFT, or FAST payment. Use the provided information from your preferred bank’s page to transfer the desired amount to your Binance TR account via transfer, EFT, or FAST.
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Once your bank completes the transfer process, the funds will be automatically reflected in your Binance TR account’s wallet.
How to Buy SKL Coin with TRY on Binance TR?
After completing the deposit process, you can proceed to purchase SKL coins with TRY by clicking on the “Buy-Sell” option in the top left menu of the Binance TR website.
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Upon clicking this option, the following page will open. Type “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.
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Now, the SKL trading page will appear. In the red box area, enter the desired purchase price for SKL in the first box, and specify the quantity of SKL coins you wish to buy in the second box. After entering the required information, complete your purchase by clicking the “Buy SKL” button.
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What is Binance TR?
Binance TR is the official platform launched by Binance, the world’s largest cryptocurrency exchange in terms of trading volume, to cater to cryptocurrency investors in Turkey. Established in 2020 and 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 easily 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 should not be considered as investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry inherent risks. It is advisable to conduct thorough research before making any investment decisions.
