Protocol Village: SKALE\'s \'Pacifica V3\' Upgrade to Double Transaction Throughput

The latest in blockchain tech upgrades, funding announcements and deals. For the period of July 18-24.

Modular blockchain network SKALE (SKL) launched the Pacifica V3 upgrade on Monday, which the team said will double transaction throughput.

According to a press release shared with CoinDesk, the upgrade will increase block mining speed by 108% and transaction throughput by 122%.

“Leveraging its unique modular AppChain architecture, this upgrade brings significant advancements to SKALE Network's capabilities, including improved transaction speed and predictability, enhanced network performance and improved developer tools,” the announcement stated.

The upgrade will also introduce a new "transaction priority fee mechanism" to help users prioritize their transactions during periods of high network congestion.

SKALE, which recently raised $30 million in a Series B funding round, is designed to be a gas-less, EVM-compatible blockchain that can be used to deploy decentralized applications (dApps) at scale. The network consists of a main chain, called the SKALE Hub, and a network of sidechains, called AppChains.

Developers can use the SKALE Hub to create and deploy AppChains, which are customized to meet the specific needs of their applications. AppChains can be configured with different parameters, such as block size, gas limits and transaction fees.

Once an AppChain is deployed, it can be connected to the SKALE Hub and begin processing transactions. Transactions on AppChains are included in blocks, which are then submitted to the SKALE Hub for finalization.

The SKALE Network is designed to be highly scalable and efficient, and it can reportedly process thousands of transactions per second (TPS) at a very low cost. The network is also interoperable with Ethereum (ETH), which means that users can easily transfer assets and deploy dApps between the two blockchains.

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