Everscale

Everscale (EVER): A Deep Dive into This Innovative Cryptocurrency

What is Everscale (EVER)?

Everscale (EVER) is a powerful, fast, and secure blockchain platform designed to handle a vast number of transactions. Originally developed from the TON (Telegram Open Network) concept, Everscale has evolved into an independent, community-driven project with its own unique features and capabilities. The native cryptocurrency of this network is called EVER (formerly known as TON Crystal), which serves as the fuel for the entire ecosystem.

Everscale stands out for its unique architecture that enables unlimited scalability through dynamic sharding, allowing the network to process millions of transactions per second without congestion – a significant advancement compared to many existing blockchains.

How Does Everscale (EVER) Work?

Everscale operates on a Proof-of-Stake (PoS) consensus mechanism, utilizing a technology called "Infinite Sharding Paradigm." This approach divides the network into multiple "shardchains" that can work in parallel, drastically increasing transaction throughput.

The Everscale network is built with:

• Masterchain: The main coordination chain
• Shardchains: Multiple chains that process transactions in parallel
• Workchains: Specialized chains that can run with different rules

Its smart contract system is highly sophisticated, offering developers the ability to create complex decentralized applications with minimal fees and maximum efficiency. The platform uses a unique approach to smart contracts with the TVM (TON Virtual Machine), which supports several programming languages including Solidity and C++.

Staking and Validation in the Everscale (EVER) Network

Everscale does offer staking as part of its PoS consensus mechanism. EVER holders can participate in network validation by staking their tokens, either directly (if they have sufficient technical knowledge and resources to run a validator node) or through delegation to existing validators.

The staking process works as follows:

• Validators stake EVER tokens as collateral to earn the right to produce and validate blocks
• Regular users can delegate their EVER to validators and receive a portion of the rewards
• Rewards are distributed proportionally based on the amount staked
• Staking helps secure the network while providing passive income to token holders

Unlike Bitcoin or Ethereum's original consensus, Everscale does not use mining. There is no Proof-of-Work component, meaning that EVER cannot be mined using computational power. All validation happens through staking in the PoS system, which is significantly more energy-efficient than traditional mining.

What is EVER Used For?

The EVER token serves multiple purposes within the Everscale ecosystem:

• Transaction fees: Users pay EVER to execute transactions on the network
• Staking: EVER can be staked to participate in network consensus and earn rewards
• Governance: Token holders can participate in decision-making regarding protocol updates and changes
• DApp interactions: EVER is used to interact with decentralized applications built on Everscale
• Value storage and transfer: Like other cryptocurrencies, EVER can store and transfer value

The utility of EVER continues to expand as the ecosystem grows, with new use cases emerging as more developers build on the platform.

Initial Distribution of EVER Tokens

The initial distribution of EVER tokens (when they were still known as TON Crystal) occurred after the project diverged from the original TON concept. The distribution was designed to be fair and to ensure broad participation in the network.

The token distribution included:

• A portion allocated to early developers and contributors
• Community distribution through various mechanisms
• Ecosystem development funds to support future growth
• Strategic partnerships and investments

Since the initial launch, the project has gone through rebranding from FreeTON to Everscale, with continued development and expansion of use cases for the EVER token.

Additional Information About Everscale (EVER)

Everscale has several unique features that differentiate it from other blockchain platforms:

• DeBot Technology: Interactive smart contracts that create better user experiences
• Crystal Wallet: The official wallet for storing, sending, and receiving EVER tokens
• TIP-3 Token Standard: Everscale's equivalent to Ethereum's ERC-20, allowing for token creation on the platform
• EverX Labs: A development team working on core infrastructure for the Everscale ecosystem
• Cross-chain compatibility: Bridges to other blockchains, enabling interoperability

The Everscale community is active and growing, with regular updates to the platform's technology and expanding partnerships in the DeFi, GameFi, and enterprise spaces.

Trading Everscale (EVER)

Interested in trading EVER? You can trade Everscale (EVER) on various cryptocurrency exchanges with ease using Cryptohopper's automated trading bot. Cryptohopper allows you to set up sophisticated trading strategies for EVER and other cryptocurrencies, enabling you to take advantage of market opportunities 24/7 without having to monitor the markets manually. Whether you're a beginner or an experienced trader, Cryptohopper's tools can help optimize your EVER trading experience across any supported exchange.