SKALE Network is an open-source, decentralized "elastic" blockchain network designed to scale Web3 applications. SKALE chains are configurable, application-specific blockchains (often called "dynamic shards") that exist one layer above the Ethereum blockchain. Developers can rent SKALE chains that each act as a private Ethereum-compatible smart contract platform with faster block times and the ability to process more transactions per second. According to core developer SKALE Labs, SKALE chains can run full-state smart contracts, support decentralized storage, execute rollup contracts (a layer-2 scaling solution), and run machine learning algorithms using the EVM (Ethereum Virtual Machine). In combination with Ethereum, SKALE Network aims to allow Web3 apps to compete with traditional apps on a cost and performance basis.