The Beginning of EVERSCALE
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Everscale is a blockchain based on the open-source Telegram Open Network (TON), a platform that was derailed by a lawsuit between Telegram and the U.S. Securities and Exchange Commission (SEC) in May 2020.
FREE TON was rebranded as Everscale in late 2021 to signify its gold of ‘limitless scalability.’ As its name suggests, Everscale is a massive decentralized supercomputer with speed, security, and scalability that can handle millions of transactions per second.
In fact, Everscale is far more than that. You might call it a ‘super server,’ designed to host a variety of services.
The Ultimate Goal of EVERSCALE
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The ultimate goal of Everscale is to integrate a myriad of blockchains into one universal network.
There are a variety of blockchains in the world. New blockchains are emerging even as we speak. With the passage of time, blockchains will make their way into every nook and cranny of our life with even more different types of cryptocurrencies performing various roles and functions.
What this means is that we will have a large pool of coins to choose from, as opposed to a single type of coin with no other alternatives.
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To illustrate, we don’t need to stick to Bitcoin, which suffers from sluggish processing speeds and high transaction fees, when we want to transfer coins. We need to choose a type of coin that fits our needs and circumstances.
That is just one of many reasons for the emerging diversification of coins that serve different practical purposes. Facilitating the use of diversifying blockchain technologies requires an integrated ecosystem that ensures interoperability across different blockchain networks.
From its conception, Everscale was developed focusing on this particular need. The ultimate goal of Everscale is to incorporate major blockchains that have practical applications in our life into a single environment with limitless scalability.
Everscale continues to improve its bridge platform and mechanism to turn this goal into reality. Everscale will play the role of a bridge connecting otherwise disconnected blockchain networks worldwide.
Key Features of EVERSCALE
Among the key features of Everscale are the highest processing speed and the lowest fees on the market.
Processing Speed
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Everscale is a decentralized blockchain network driven by the Ever operating system (OS) and constitutes an ecosystem in which transactions occur at the fastest speeds ever. Designed in a unique decentralized and scalable structure, the Everscale blockchain is paired with the decentralized Ever OS.
Ever OS smart contracts and distributed user interface enable Everscale to process millions of transactions per second.
This is the fastest processing speed ever, beating Ethereum and Solana in terms of transactions per second. Numerical metrics show a significant gap in performance among some leading blockchains.
Everscale handles a whopping more than 45,000 transactions per second, easily outpacing Bitcoin’s 7 TPS, Ethereum’s 20 TPS, and Solana’s 1,000 TPS, Ripple’ 1,500 TPS, and EOS’ 3,000 TPS.
On top of this, Everscale’s new and unique properties, such as dynamic multi-threading, soft majority consensus, and distributed programming, ensure scalability and high-speed making the platform super-fast and super-safe.
Security
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Virtual assets need to be kept safe and secure 24/7. Everscale is the perfect security solution. Everscale, with its state-of-the-art technology and development, provides enhanced security for every transaction through end-to-end encryption.
Minimum Fees
Another feature of Everscale is minimal fees. One of the thorniest issues confronting coin users as well as coin developers is the considerable cost they have to bear in fees.
As Everscale aims to converge all blockchain networks into a single integrated environment, it offers low transaction fees for users through instant payments and various ways to stake and park your tokens.
‘Everscale WM’—EVERSCALE’s unique virtual machine
Everscale has introduced EVER OS on which assembly codes can be executed to enhance users’ convenience in using the blockchain. The virtual machine that carries out the process is called “Everscale WM.’ enabling the execution of assembly codes without relying on a designated hardware device.
Powerful Developer Tools
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Compilers for Solidity and C++ Everscale has powerful developer tools, such as compilers for Solidity and C++, SDK and API, client libraries ported to more than 20 languages and platforms, an array of decentralized browsers and wallets empowering many applications in DeFi, NFT, tokenization, and governance domains.
Prospects of Everscale
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Today, blockchain networks remain discrete and independent lacking intercommunication and interoperability. In their nascent stages, Bitcoin and Ethereum attracted a lot of liquidity as virtual assets.
But they have hindrances to clear, such as slow transaction speeds and exorbitant fees to meet the performance requirements of blockchain technology that the times require.
Integration will loom large as a challenge for blockchains. Meeting the challenge depends in large part on scalability and speed.
Everscale generates high expectations for the future given its features such as fast transaction speeds, minimal fees, improvement in its bridge platform, and an effort to converge different blockchains into one fully encompassed network.
