SKALE Network, the leading Layer 2 Dapp platform has announced a major update: The launch of SKALE Pacifica V3. This new release represents a significant improvement in the network infrastructure, with many improvements to its developers and user-facing experience.

By building Pacifica V3, the new SKALE release has attempted to tackle two of blockchain technology’s major issues as for scalability and transaction efficacy. The updated includes improvements which increase block mining speed by 108% and transaction throughput by 122%, cementing SKALEs place at the forefront of blockchain innovation.

This not only speeds up the network, it changes how predictable and efficient its operation is, which is crucial for supporting the increased demand from a growing number of users and applications. The updates to SKALE were introduced in order to drive the scalability of blockchain technology on multiple applications as they become more available and easy.

Applications on Ethereum can now benefit from faster transaction speeds and more reliable network performance, necessary for real-time applications issuing blockchain interactions.

Welcome to the new wave of modular blockchain technology 🌊

Introducing Pacifica V3 – the next evolution of SKALE!

SKALE is now MUCH FASTER 💨
– 122% Increase in Transaction Throughput
– 108% Increase in Block Mining Speed

And that’s not all frens, the Pacifica V3 upgrade also… pic.twitter.com/1BMGEgqNvn

— SKALE (@SkaleNetwork) July 10, 2024

Technical Enhancements and Future Roadmap

Pacifica V3 shows much faster block mining speed (the average time is 1.85 seconds while in Pacifica it was as high as 3.84.). Overall, the improvement has driven block creation time down almost 2X from previous version on the SKALE Network for even faster confirmations and optimized transaction experience in all applications.

The upgrade also increased the network’s transaction processing capabilities from 144 transactions per second (TPS) to a significant 320 TPS. These developments make sure SKALE has the capacity to accommodate massive numbers of transactions at one time without it reaching its ceiling, which is crucial for enterprise-scale applications.

Further enriching the user and developer experience, Pacifica V3 introduces several new features such as EIP-1559 support for Type 1 & 2 transactions, which helps in automating fee adjustments based on network demand, thereby stabilizing transaction costs. 

Additionally, the Interchain Messaging Agent has been improved that allows for 50% faster transfers thus ensuring better reliability in cross-chain communication. These efforts are furthered by smart contract enhancements enabling the smarter and more secure management of deployment permissions, which allows verifiers to fairly restrict changes unauthorized from being deployed into their contracts.

Stan Kladko, Co-Founder and CTO of SKALE Labs, expressed his enthusiasm about the upgrade, noting the substantial improvements in transaction speed and system efficiency. He went on to underscore that not only do these improvements streamline operations, but they also greatly cut operational costs – as demonstrated by SKALE users saving $400m in gas fees just last month.

Looking ahead, SKALE plans to continue this trajectory of innovation with the upcoming V3.1 update, which will introduce additional features like disk partitioning for chains and expanded pre-deployment capabilities in the SKALE contract functionality.