Everscale is a decentralized global blockchain network launched on top of Ever OS on May 7, 2020. On November 10, 2021, by the decision of its community, it was renamed Everscale from Free TON. Everscale is a new and unique blockchain design that proposes a scalable decentralized world computer, paired with a distributed operating system, Ever OS.
It is governed by a decentralized community founded upon meritocratic principles via the Soft Majority Voting protocol. Everscale has powerful developer tools, such as compilers for Solidity and C++, APIs, an SDK that includes client libraries for 13 programming languages and all popular platforms, a local node for DApp testing, CLI tools, and a range of decentralized browsers and wallets, empowering many applications in the DeFi, NFT, tokenization, and governance domains.
Everscale’s infinite scalability has been envisioned in its architecture since its inception. This approach comes in contrast to the one Ethereum took, resorting to scalability just recently. The Everscale network is split into data shards called work chains. Each election cycle, the global set of validators rotates and is assigned to a workchain. Validators store data and process transactions only for their assigned workchain. As long as validators download blocks of other workchains and update their state based on the changes that occurred, all workchains can run in conjunction.
In Everscale, the asynchronous architecture was designed from scratch. All contracts communicate with each other via messages. Therefore, the only thing needed for sharding to work is the synchronization of message queues between shards. At the same time, since Everscale was developed by blockchain maximalists, they went even further. That is to say, they developed not just a form of classical sharding, but infinite sharding.
Everscale governance is very simple — anyone can upload a proposal for which the community votes with their WEVER (wrapped EVER) tokens using the Soft Majority Voting (SMV) mechanism. Soft majority voting is a transparent voting process with advance announcements and clear deadlines. If members don’t have an opinion and/or are reluctant to vote, it is assumed that they are neutral.
Who are the founders of Everscale (EVER)?
The founder of Everscale is Alexander Filatov.
What is Everscale (EVER) used for?
Everscale boasts a record-breaking network throughput of 55,000 TPS and allows for the transfer of digital assets across borders.
It equips users with voting rights through a governance model that is centered on a soft majority voting mechanism.
Everscale offers comprehensive data on blocks, transactions, messages, and accounts, allowing developers across the world to engage in dynamic sharding.
EVER is primarily used to pay network commissions to validators and to accrue rewards during DAO processes.
It employs a proof-of-stake (PoS) consensus mechanism that allows users to generate new blocks in shard chains and master chains.
How is Everscale (EVER) unique?
Ever OS is capable of processing millions of transactions per second, with Turing-complete smart contracts and decentralized user interfaces. Everscale presents some new and unique properties, such as dynamic multithreading, soft majority consensus, and distributed programming, which enable it to be scalable, fast, and secure at the same time.
As of now, Everscale consists of two global shards: the masterchain and the main workchain. Everscale’s architecture can potentially accommodate up to 232 workchains. Each newly created workchain can have its own configuration parameters, virtual machine, and native currency.
Everscale never looks for easy and uncostly ways to solve blockchain issues. Therefore, every highlighted problem is resolved with the maximum efficiency and accuracy possible. In Everscale, each contract address is a uniquely computed value. A contract address is a hash of the contract code and initial data (initial data is a value of static variables, and not what you pass to the constructor, since in Everscale the constructor is a function that you call after the deployment of the contract in one transaction).
How many Everscale (EVER) coins are in circulation?
There are 1,793,348,658 EVER coins in circulation.
How is the Everscale network secured?
As the number of shards increases in the network, there are fewer instruments to watch over each one of them. Therefore, in the event of a high block mining rate, it may lead to the collusion of the validators of a single shard. This, in turn, could end with someone creating the original message that carries the money, which does not belong to the originator of the contract.
Everscale consensus (dubbed Catchain by its author) solves this. It is a proof-of-stake consensus algorithm from a family of Byzantine Fault Tolerant (BFT) algorithms. It includes the consensus algorithm as well as a protocol for message exchange between validator nodes in a network.
BFT consensus is based on Byzantine General’s agreement and describes a problem of reaching a consensus in a distributed system when each network participant does not have any information about the whole network and may not trust any of its participants. It takes advantage of the current architecture of Everscale, where validators share computation among themselves. This way, all validators always have the data for all shards. It means that each newly issued block can be validated independently.
To prevent consensus monopolization, the algorithm uses a round-robin role transfer from the validator to the validator. So for each round and each attempt, several validators are assigned to generate blocks, and one validator is assigned to propose a block for voting. As validators change roles from an attempt to an attempt, the consensus mechanism cannot be blocked by a failure to get a decision from the majority of validators.
How do I buy Everscale Space (EVER)?
The EVER token can be used for a wide range of purposes, like staking and governance.
EVER tokens can be easily purchased by following the following steps.
Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and buy EVER through your trading account by swapping with BTC, ETH, or USDT pairs.
Which Cryptocurrency Wallet Supports Everscale Space (EVER)?
The PTPWallet platform supports many cryptocurrencies, with EVER soon to be included. Because of its vast use case, PTPWallet has grown to become one of the most popular platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. The platform offers a simple user interface, is supported by both Android and iOS devices, and comes with its own mobile wallet app.
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