Let's be honest: When you have the opportunity to earn free cryptocurrency, you take it. And when you can get it through Coinbase, one of the most trusted crypto exchanges in the world, earning the free crypto is a no-brainer.
We've talked about Coinbase's "learn and earn" feature before. You can earn free cryptocurrency for watching educational videos and answering a couple of questions. The courses usually take less than five minutes of your time, and they couldn't be easier.
The cryptos you can earn rotate in and out on a regular basis, with recent options including notable cryptos like Ethereum (ETH), Fetch.ai (FET), and Stellar (XLM), among others.
But more often than not, you'll find relative unknowns that are trying to get their coins in front of investors - and that means many of you likely own cryptos that you otherwise may not have heard of.
One of those is SKALE Network (SKL), which was available to earn through Coinbase last month. You might even have SKL in your portfolio today without realizing its real potential.
We'll give you an inside look at SKALE today and show you why this is one crypto you need to be paying attention to, and why even folks who didn't earn it through Coinbase may want to buy some...
The Technical Side of SKALE
SKALE is an open-source security and execution Ethereum (ETH) Layer 2 scaling solution that relies on elastic sidechains to divert processing off the mainnet.
The decentralized project looks to diminish response time and confirm that payments can be made as inexpensively as possible while also boosting transaction capacity.
The SKALE Network consists of high-performance sidechains executing sub-second block times, running up to 2,000 transactions per second (TPS) per chain. It offers speed, functionality, and the ability to sustain thousands upon thousands of independent blockchains of all subtypes.
According to SKALE, those who build on its platform can run Solidity (an object-oriented programming language) smart contracts countless times faster at a percentage of the mainnet cost. The SKL token grants a right to take part as a network authenticator, stake as an authorizer, or access a share of the network's budget as a developer.
Video games and content streaming services are among the projects that are already taking advantage of SKALE's infrastructure.
The Practical Side of SKALE
Here's the upshot of all the tech speak: SKALE is pitching itself as a widely accessible platform that has a flexible range of use cases, and it offers efficiency and capacity benefits to people who want to develop applications using its framework.
A crypto's utility is one of the major indicators of whether an asset has staying power. Those with staying power have a much greater chance of increasing in value and therefore making investors more money.
SKALE already has over 40 partners within its Ethereum network, indicating that it has adoption power that will continue to grow.
And because SKALE uses technology that employs elastic sidechains, users and developers can modify it to custom specifications that will suit the growth process for building specific dApps (decentralized applications), which will be essential in the next phase of the Internet - Web3.
It also draws value potential from the fact that Ethereum still does not have the required volume to support high traffic fees on the network, which increases gas rates throughout cycles of saturation and makes dApp creation and arraying less sustainable. Developers are going to be looking for alternatives, and SKALE is poised to step into the gap.
All of these things add up to make SKALE a serious contender for potential returns.
SKALE Tokenomics
There are currently 3.74 billion SKL in circulation. SKALE Network has a limited total supply, which acts as an anti-inflation mechanism. Unless it is voted otherwise in the future through its decentralized governance model, no new SKL will be minted once the total supply is exhausted.
SKALE's max supply is 7,000,000,000 SKL. At the time of writing, SKALE is trading at $0.194 and is available to buy and trade on Coinbase.
So in sum, what we have here is a true "penny crypto," based on innovative tech, that's already seeing some practical use and has a lot of potential to be one of the major beneficiaries of mass adoption.
Anyone who already earned it for free on Coinbase got a hell of a bargain. And for everyone else, there's still plenty of opportunity to get in before it takes off.
The team at Alternative Wealth Network specializes in finding picks like this - cryptos you may never have heard of and can get for pennies on the dollar compared to Bitcoin, but have the potential to beat the mainstream coins many times over in proportional returns.
You can go here to learn how to access their complete model portfolio, packed with crypto profit plays. Our complete panel of experts, including yours truly, has hand selected these recommendations for sheer profit potential. We're particularly excited about two small coins that could each soar more than 5,000% in the next five years. Take a look...