Owotunse Adebayo
The rapid growth of the cryptocurrency space continues to see the ecosystem thrive beyond borders. The increase in value of the digital assets in the terrain remains a massive determinant of its mainstream adoption. Also, another factor spearheading such growth is the creation of new blockchain firms. These new enterprises apply blockchain to solve issues concerning crypto and its uses. This is why the growth of space is now unstoppable. However, One such blockchain enterprise propelling such growth is Everscale crypto, formerly known as Free TON.
What is Everscale Crypto?
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Founded in May 2020, Everscale crypto is a fast, secure, user-friendly, and scalable blockchain on the EVER OS protocol. It is an end-to-end decentralized blockchain capable of handling millions of transactions per second. In simple terms, Everscale is a distributed supercomputer, or super server, designed to host and provide multiple services. Formerly known as Free Telegram Operating Network (TON), Pavel Durov’s Telegram team implemented its design. TON was a decentralized ecosystem that existed on the principles of a peer-to-peer network.
This was why it powered DApps to run messaging, value, data storage, and an entire operating system very fast. Notably, the new rebranding still comprises all the previous Free TON ecosystem entities. Entities like TON OS, TONSwap, TON Bridge, and TON’s Defi infrastructure are still in Everscale. TON Swap allows the buying, selling, and investing of TIP-3 tokens. Everscale also possesses unique properties like soft majority consensus. This is why the Blockchain is scalable, fast, and secure. The native and utility token of the Everscale chain is EVER.
How Does Everscale Work?
Everscale offers users dynamic scalability, 100% free technology, and immense speed. Due to its functionalities, the network is regarded as the Blockchain of tomorrow. This is because its governance is dependent on a decentralized community. It is also founded upon meritocratic principles via Soft Majority Voting protocol. Everscale runs on a Proof-of-Stake (PoS) consensus mechanism. It offers DApps developers an ecosystem with smart contracts and DAOs.
Its network architecture also focuses on fundamental properties of scalability and decentralization. It uses like native sharding equipped with infinite scaling opportunities. These opportunities allow the addition of new validators to help execute smart contracts. Alternatively, the multi-sharded and multi-threaded Blockchain of Everscale allows the parallel execution of smart contracts. Its affiliation with the TON Bridge also enables it to function as a gateway for the Blockchain. TON Bridge links Everscale to other blockchains like Binance Smart Chain, and Ethereum. Fortunately, this allows users to transfer their assets from the chain to other networks.
Features Of Everscale Network
Everscale remains a high utility network, offering users high speed. Users also enjoy low-cost commissions, and a real decentralization experience. Also, the network is rapidly upgrading its service and offerings. Using its technical superiority and advantage, it attracts developers and users globally. Below are the network’s ideologies;
Everscale as a governance
After its launch, the network’s community’s growth began to expand globally. It started attracting users with the same interest. One of its principles is complete decentralization, which it has achieved via support from its Sub-governances. Sub-governances consist of a group of individuals with immense expertise in various specializations. These groups are responsible for upgrades to the chain. They receive rewards in EVER when their initiatives turn out successful. As of today, Everscale continues to establish partnerships that will improve the offerings of these community-focused groups.
Everscale as a collection of Blockchains
Everscale operates as a collection of Blockchains to process millions of transactions per second. The most important Unique Master Chain, contains information vital to its existence. The remaining 200+ Blockchains are also called the working chains. These chains have value-transfer and smart contract transactions. They are regarded as the primary workers of the Everscale network. Each workchain is divided into 260 shard blockchains (shardchain). They are identical in block format and rules to the original workchain. However, they are only responsible for a subset of accounts, depending on some factors. The blocks in the shardchain and masterchain are also blockchains.
Everscale as a profitable space for validators
As a validator on Everscale, one must deploy a node and generate ADNL keys. To complete the process, one must stake a certain amount of EVER. Users who do not have enough funds to run a validator node can approach DePool. DePool is a service that allows users collect funding from third-party network participants. Alternatively, they earn rewards from a portion of the profit generated from block validation. The maximum number of validators must not exceed 1000 persons. Validators are selected via election to ensure the creation of blocks in a specific workchain.
Why Should I Use Everscale Crypto?
Everscale’s architecture is a unique and better approach to blockchain technology implementation. This architecture satisfies the three primary properties: scalability, security, and decentralization. As a blockchain, it possesses features that distinguish it from others. The network operates an Infinite Sharding Paradigm, which enables it to maintain the number of shards per load. Another advantage it possesses is integrating native sharding with infinite scaling capabilities.
As new validators join the system, its smart contract executions increase proportionately. The instant hypercube routing of the chain allows users to access shards directly. The Everscale Virtual Machine (EVM), provides support to developers. Everscale’s EVM aids Turing in completing smart contracts and allows them to write in Solidity and C++. Everscale also possesses client libraries available in multiple languages, decentralized browsers, and wallets empowering DApps. The networks also cater to NFT, tokenization, and governance domains.
The EVER Token
EVER is the native token of the Everscale chain, and it complies with a TIP-3 token standard. The TIP-3 token standard describes the basic principles of building smart token contracts. Smart contracts of custom wallets can deploy only the root smart contract from their address. User wallets also have the same code as root smart contract but may contain different user data. EVER’s use case also involves paying network commissions to validators and accruing rewards during DAO processes. Its initial issue was five billion tokens at an annual 0.5% inflation rate. At the time, all distributed tokens were shared on non-financial terms. The token is available for trading on many exchanges.
How To Buy EVER On Gate.io
Using your Everscale account, wallets like Crypterium and Kilox Wallet allow you to buy and sell EVER. The token has a circulating supply of 1,228,574,554 coins and an infinite maximum supply. To buy EVER on Gate.io, you will follow the simple steps below;
Step 1
For new users on Gate.io, you will have to sign up for an account. Using your details, you can do that on the Website. Users can also download the gate.io mobile app. It is available on android and iOS. Signing up is seamless and complete after supplying a few details. You will also need to verify the information you provided. However, existing users will only need to log in to their gate.io accounts.
Step 2
After logging in, it is important to have funds or digital assets in your account. This will enable you to complete the purchase of EVER smoothly. You will need to buy USDT on the platform. You can buy USDT via a Debit/Credit Card or even a bank deposit. There is also an option to obtain USDT via peer-to-peer trading. The minimum amount you need is 30 USDT. Select payment method, purchase, and finalize your payment for the USDT.
Step 3
The next step is to trade and click on spot trade. Search for EVER, and carefully select the amount of USDT you want to exchange for it. You will then confirm the purchase, and the new EVER tokens will automatically enter your wallet. Finally, now that you have your assets, you can either hold or trade them. You are also eligible to stake them and earn passive rewards. Always ensure to read instructions before making decisions.
What Does The Future Hold For Everscale
In the Everscale roadmap, its future will continue to improve the blockchain space. Fortunately, the status quo of EVER in the Everscale chain will never change. However, with Everscale’s offerings, most of which are to DeFi and NFT enthusiasts, will further increase value. The project wants TON Bridge to add support for new blockchains and increase its productivity.
In 2022, the Everscale Community plans to improve its contribution to the Blockchain. Meanwhile, are targeting more on-chain rewards. According to Ponomarev, The Everscale network has changed its name to reflect its emergence as one of the DeFi sector’s most prominent ecosystems. This is with a range of decentralized browsers and wallets empowering many developers in the industry. Many believe that the Everscale project will propel into massive upgrades this year.
EVER Price Prediction – Will EVER Crypto reach 1$?
According to CoinMarketCap, EVER is one of the highly-rated low-cap tokens in the crypto market. However, it is gradually climbing up to its ATH of $1.70, reached in 2020. EVER’s average 24hour trading volume is $13,648,690.48, with a market cap of around $730 million. This week, the token’s 58% price gain is phenomenal, as investors are starting to lurk around. Unfortunately, its long-term performance predictions are unstable. This has caused crypto analysts have divided opinions. DigitalCoin is bullish, predicting it will reach $0.58 this year.
Crypto analysts are confident that EVER will reach $1.5 in 2029. Although, PricePrediction is slightly bullish about EVER, they see the token hitting $0.4 this year. PricePrediction also predicts it to cross $1 by 2025. Unfortunately, WalletInvestor is pessimistic about the future of the token, as they predict a bearish run. The Crypto analysts see EVER falling by 93% this year. According to WalletInvestor, EVER will trade at $0.0206 by December 2022. Notably, Predictions of this nature are not strange to low-cap tokens, as they are volatile. However, while forecasts are great, cryptocurrencies remain volatile, and anything can happen in the future. The advice to investors is to commit funds they can lose to crypto assets.
Conclusion
Touted as the future of Blockchain, Everscale is a fast, secure, and scalable network on the EVER OS protocol. Furthermore, the project was known as Free Telegram Operating Network (TON). Pavel Durov’s Telegram team implemented its design. The native and governance token of the Blockchain is EVER. The future of EVER is uncertain, as it is a low-cap asset perceived as high risk. Even though there is some degree of pessimism, there is still belief around the token concerning a bullish future.
