Everscale

What is Everscale?

Everscale (EVER) stands as a swift and secure layer-one blockchain, capable of managing a staggering number of transactions each second. It operates much like a virtual supercomputer, similar to other layer-one blockchains such as Ethereum. Its origins trace back to the development of the Telegram Open Network (TON), an ecosystem that revolves around decentralized communication (Telegram), data storage, and various decentralized applications.

The Everscale blockchain employs a sharding mechanism, boasting an impressive 232 chains for transaction processing. Its primary chain, known as the masterchain, keeps track of essential information and parameter values gleaned from other active blockchains, referred to as workchains. Workchains serve as the arena for transaction processing and the execution of smart contracts, accommodating a variety of tokens. These workchains are further subdivided into a maximum of 260 sharded blockchains, referred to as shardchains, each responsible for handling a portion of the workload designated to their corresponding workchain. This innovative structure empowers Everscale to achieve the remarkable scalability it promises, capable of generating up to 232 unique tokens, one for each shardchain in operation.

---

Recent Video Interview

Main points of the interview:

• DEX platforms, including Flat Cube and Flex, innovating with order book capability and speed.
• Everscale adopts a fair launch model, distributing tokens through contributions and contests.
• Supported by popular wallets like Free Wallet, Lumi, and exchanges such as Gate.io and MXC.
• Future Plans: Expanding DeFi, NFT, and metaverse projects.

---

How Does Everscale Work?

Everscale operates on a Proof-of-Stake consensus algorithm, with validators responsible for verifying data and producing blocks. The network employs a security and validity protocol known as Soft Majority Fault Tolerance (SMFT) to ensure the correctness of blockchain data. Validators select one participant to propose a new block, and a group of validators confirm its correctness.

Everscale's architecture consists of multiple blockchain levels:

• Masterchain: This singular blockchain verifies the network's core data and confirms the accuracy of all workchains' data.
• Workchains: These blockchains run various components of the ecosystem, like decentralized applications. Each workchain can have its own characteristics, but compatibility is ensured by the masterchain.
• Shardchains: These mini-blockchains are basic elements that may contain one or more blocks. Multiple shardchains can exist within a single workchain.

Everscale utilizes sharding and multithreading, making it the first multi-threaded blockchain. Sharding allows parallel execution of operations by validators, facilitated by the network's layered architecture. The number of shardchains storing transaction data varies based on the current workload.

Everscale Team Background

Everscale emerged from a collaborative effort involving multiple companies and teams with a shared interest in continuing the work initiated by the Telegram Open Network. A dedicated team of over 200 individuals is actively engaged in the full-time development of the network and its surrounding ecosystem. The project maintains an ongoing search for fresh initiatives and talented developers, facilitated by the Grants Programme and hackathons.

In January 2023, the company secured $5 million in funding from the Venom Ventures Fund. This funding injection is earmarked for expanding the engineering team and supporting various ecosystem development endeavors.

Everscale Project Development

Everscale's roadmap for 2023 includes:

• Metaverse SDK MVP: The product is tailored for individuals or entities looking to construct metaverses on Everscale. It encompasses a suite of tools designed to facilitate the incorporation of features showcased in their GameFi pilot projects.
• EVM compatible workchain: A distinctive feature of Everscale is its ability to initiate smart contracts from an EVM-compatible Workchain to other Workchains within Everscale, and vice versa. This capability establishes a seamless ecosystem for smart contract execution, facilitating genuine EVM integration into Everscale. It also enables the development of synchronous, asynchronous, or hybrid applications within a single blockchain or the extension of existing ones.
• True NFT improved standard: TIP-4 represents a standard in which each NFT functions as a miniature smart contract, associated with its respective owner. Furthermore, within each NFT collection, a single smart contract consolidates all pertinent collection information. Additionally, there exist smart contract indexes dedicated to each NFT, facilitating rapid on-chain searches. Notably, TIP-4 is already integrated into Ever.Surf and GrandBazar, with plans underway to incorporate it into other wallets in the near future.

Everscale Price Analysis

As of December 25 2024 Everscale has a marketcap of $36M. This is {{percentagefromath}} from its all time high of $2.56. In terms of its tokenomics, there's a total supply of 2.1B with 94% currently outstanding. Keep in mind Everscale has a fully diluted value of $38M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.