Codefi, SKALE Team Up to Launch First Network on Active

Utility tokens issued on the platform cannot be flipped on the market for speculative trading.

ConsenSys’ Codefi on Tuesday announced its partnership with SKALE to launch the first blockchain network on the Active platform.

Introduced last October by Codefi, Active is designed to launch decentralized networks and allow customers to purchase, manage, and use their tokens on a single platform. It also requires networks to launch and be usable at or immediately after selling any tokens to participants.

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Moreover, participants on Active cannot simply flip tokens for passive speculative purposes, but rather requires them to use their tokens for their intended purpose.

SKALE is the first client on Active, and together they are preparing to launch SKALE Network, a decentralized elastic blockchain platform for securely scaling Ethereum based decentralized applications (dApps).

Commenting on the development, Jack O’Holleran, co-founder, SKALE Network, said: “SKALE was really a project born out of a passion for scaling the Ethereum ecosystem to one billion-plus people. After talking to the Activate team, it quickly became clear that their approach to managing a network launch was aligned with our core values of putting developers and the health of the network first.”

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SKALE Chains can execute sub-second block times with over 2,000 transactions per second (tps) on every chain and run full-state smart contracts, per the company.

No timeline provided

To participate in the token sale, users need to pre-register themselves along with the proper KYC process.

The platforms, however, did not reveal any dates for the anticipated launch of the network.

“Layer-two scalability solutions are bringing lightning-fast high transaction throughput and more flexibility to Ethereum. The SKALE Network is a state of the art solution, representing a configurable and low cost layer-two platform for developers to enable near instant execution of smart contracts,” Joseph Lubin, founder of ConsenSys and co-founder of Ethereum, said.

“Activate is setting the standard for fair and maximally distributed token networks, while providing a seamless and consistent validator and user experience to ensure all participants interact meaningfully with the SKALE Network — and decentralized networks of the future.”

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