EverscalePrice

(EVER)

Everscale is a decentralized blockchain network launched in May 2020. It was initially built using the open-source code of the Telegram Open Network (TON) after its original developers were compelled to discontinue the project due to legal challenges. It later rebranded from "Free TON" to "Everscale" in November 2021 to clearly establish its identity as an independent and continuously evolving blockchain ecosystem, distinguishing itself from its foundational architecture.

The EVER token serves multiple critical functions as the native currency of the Everscale network. It is utilized for paying transaction fees, smart contract execution, and data storage, typically at very low costs. EVER is also integral for securing the network through staking in its Proof-of-Stake consensus model, allowing participants to earn rewards. Furthermore, it enables governance, empowering holders to vote on project proposals via the Ever DAO, and acts as a medium of exchange within various decentralized applications (dApps), including NFT marketplaces and games.

EVER operates under an inflationary model, featuring a fixed emission rate of approximately 2 million tokens per month to compensate validators. However, it is capped by a total supply limit of 5 billion EVER. The network also employs burning mechanisms, such as fees from services like EverName, to help mitigate inflation. WEVER (Wrapped EVER) is a TIP-3.1 standard token crucial for governance and DeFi interoperability. Users must wrap their native EVER into WEVER to participate in the voting processes of the Ever DAO.

Everscale achieves its high transaction speed and scalability through its sophisticated architecture, which incorporates Dynamic Sharding and Multithreading. The network is structured around a "Masterchain" and multiple "Workchains." A key innovation is that these workchains can dynamically split into "Shardchains" as network demand increases. This parallel processing capability allows the Everscale network to efficiently manage and process millions of transactions per second (TPS), ensuring robust performance even under significant load.

In Everscale's "Everything is a smart contract" paradigm, every account on the network, including simple user wallets, is functionally a smart contract. This contrasts with other blockchain designs that differentiate between user accounts and contract accounts, allowing for more complex and automated functionalities at the base account level. The network's security is underpinned by Soft Majority Fault Tolerance (SMFT), a unique consensus algorithm. SMFT mandates that validators provide verifiable proof of block verification, making it exceptionally difficult for a malicious entity, even with a substantial stake, to compromise the network's integrity.

Users can stake EVER tokens through the official Everwallet or via specialized staking platforms. A common method involves joining "Decentralized Pools" (DePools) to contribute stake to network validators. Everscale also provides liquid staking, where users receive 'stEVER'—a liquid token that appreciates in value—allowing them to maintain liquidity while earning staking rewards. The Ever DAO acts as the project's decentralized governing body. Any holder possessing at least 100,000 WEVER can submit a proposal, and the community then votes on diverse matters, from technical upgrades to treasury allocations.