ConsenSys Codefi adds SKALE network to suite of enterprise developer tools

SKALE Network, an open-source modular protocol for building application-specific blockchains, has been added to ConsenSys Codefi's suite of tools for enterprise developers. 

Starting now, the financial institutions, global enterprises, and Ethereum projects who work with ConsenSys Codefi will have the ability to "rent" SKALE chains and run full-state smart contracts, access decentralised storage, execute rollup contracts (a layer-2 scaling solution), and deploy machine learning algorithms using the EVM (Ethereum Virtual Machine). 

“Building an enterprise blockchain offering that is flexible and scalable is an absolute must for today’s enterprises, which is why SKALE is such a compelling partner to our offering,” says Didier Le Floch, CTO ConsenSys Codefi. “By adding SKALE Network to our solutions, enterprise customers will get subsecond transactions and fast finality all in a gasless offering. This is absolutely critical for enterprises as they adopt open networks.”

The combination of the power of the Ethereum Network with SKALE’s Layer 2 solution provides enterprise apps and platforms the ability to achieve higher transaction speeds at lower costs without compromising security. With enterprise blockchains moving into a stage of rapid growth, the ability to solve the congestion issues that plague the performance of private-permissioned blockchain networks on Ethereum have become mission critical. 

“In order for enterprises to effectively run open blockchains they need a strategic approach married with software and implementation services that will allow them to hit the ground running on day one,” says Jack O’Holleran, co-founder and CEO SKALE Labs. “SKALE is designed to be an enterprise grade open source network because decentralisation should not mean a sacrifice on quality and performance. ConsenSys is a clear global leader in enterprise Ethereum software and services and we're pleased they will partner and support the SKALE network for enterprise clients."

The ConsenSys Codefi suite of financial applications was built to converge existing financial applications and decentralised financial (DeFi) technologies to create more accessible and equitable financial services. ConsenSys’ enterprise offerings encompass open source software, strategic consulting, and implementation products and services. From asset management to capital markets, decentralised finance, global trade, payments, and countless other industries, blockchain technologies and solutions are being explored by leading enterprises and institutions to solve critical business problems and propel economies of scale.