What is Everscale? Everscale (EVER) is a highly scalable Blockchain network capable of processing over 100,000 transactions per second. cryptocoin.com In this article, we answered questions such as what Everscale is, what it offers, what it is EVER, what it does, how to get it. Let’s examine this layer-1 network, which offers high speed and security, together.
What is Everscale?
Everscale (EVER) is a fast and secure layer-1 Blockchain network capable of processing thousands of transactions per second. The network is similar to other layer-1 Blockchain networks such as Ethereum. Accordingly, they work as the equivalent of a virtual supercomputer. It originated at the time of the creation of the Telegram Open Network (TON), which focuses on instant messaging, data storage, and other decentralized applications. TON is a decentralized Blockchain ecosystem.
Everscale is a segmented network with 232 chain processing. Blockchain is divided into 3 categories: main chain, business chain and shardchain. The main chain contains basic information about the network. Business chains collect and save general information and parameter values from other networks. These are used to process transactions and execute smart contracts. Some of the business chains can also evolve into up to 260 fragmented chains called shardchains. Accordingly, shardchains have functions such as creating 232 tokens.
What does Everscale offer?
Everscale is capable of handling potentially several million transactions per second. It also uses a Proof-of-Stake (PoS) consensus mechanism like Solana. PoS is much more energy efficient than Bitcoin’s PoW model. Everscale’s architecture, consisting of three different chain layers, provides high scalability. In addition, the architecture allows writing with Solidity and C++ and supports the creation of up to 232 different tokens.
Developers can quickly create tokens with the TIP-3 contract within the network. However, they can also develop NFT and DeFi applications. The high speed, multi-programming language support and security provided by the network create an environment suitable for developers. Everscale aims to get ahead of its competitors such as Avalanche, faster, safer and more diverse. However, the main thing that supports the platform is an altcoin named EVER.
What is EVER? What does it do?
EVER is the native cryptocurrency of the layer-1 network Everscale. This altcoin has a number of use cases within the network. Accordingly, it facilitates the work of developers and users and serves as fuel for the network. The use cases of EVER coin on the platform include:
- Staking
- Yield Farming and liquidity provisioning in DeFi protocols
- Governance in the community and participation in DAO voting
- Paying fees on transactions such as token swaps and token bridging
- Payments in decentralized apps (dApp)
What is Everscale? How to take EVER?
Everscale is an altcoin traded on many major cryptocurrency exchanges. Users can access EVER coin through exchanges such as MEXC, KuCoin, Bitrue and Gate.io. Users can purchase the token by depositing an asset suitable for EVER pairs after becoming a member of one of these exchanges.
