Everscale EVER Price

What is Everscale (EVER)?

Everscale (formerly known as FreeTON) is a next-generation blockchain platform designed for high scalability and flexibility. Launched in 2020, Everscale aims to provide a decentralized environment for developing decentralized applications (dApps) and services. The platform utilizes a unique architecture that enables it to process millions of transactions per second (TPS) while maintaining low fees and high performance. Everscale's consensus mechanism, called the Dynamic Multithreading system, allows for parallel processing of transactions, making it stand out among other blockchain networks.

Who are the Founders of Everscale?

Everscale was founded by a diverse group of blockchain enthusiasts, developers, and entrepreneurs. The core team includes individuals like Alexander Filatov, who has a background in software engineering and experience in the cryptocurrency industry. The project was initiated by the FreeTON community, which was composed of various independent developers and contributors from around the world, fostering a decentralized governance model. Notably, the project emphasizes community involvement and decentralized decision-making, which is reflected in its structure and operations.

How does Everscale Work?

Everscale operates on a unique sharding architecture, where the network is divided into multiple shards or segments, allowing it to process many transactions simultaneously. This sharding mechanism enables the network to scale horizontally, meaning that as more nodes join, the capacity and throughput of the network increase. Everscale employs a consensus algorithm known as Proof-of-Stake (PoS), which enhances security and energy efficiency compared to traditional Proof-of-Work (PoW) systems. The platform also supports Smart Contracts, which are executed in a secure environment and can be used to create complex applications on the blockchain.

Key Features of Everscale:

• High Scalability: The sharding technology allows Everscale to handle millions of transactions per second.
• Low Fees: Transaction fees on the Everscale network are significantly lower compared to many other blockchains.
• Decentralized Governance: The community-driven model allows token holders to participate in decision-making processes.

Top Use Cases of Everscale

Everscale supports a variety of use cases that highlight its versatility and efficiency:

• Decentralized Finance (DeFi): Everscale enables the creation of DeFi applications such as decentralized exchanges (DEXs), lending platforms, and stablecoins, allowing users to engage in financial activities without intermediaries.
• Non-Fungible Tokens (NFTs): The platform supports NFT marketplaces and minting, providing a space for artists and creators to tokenize their work.
• Game Development: Everscale is suitable for building blockchain-based games that require fast and scalable solutions, enhancing user experiences.
• Supply Chain Management: The transparency and traceability features of Everscale make it ideal for tracking products throughout the supply chain.

How to Keep your Everscale Safe?

Ensuring the safety of your Everscale (EVER) tokens involves several best practices:

• Use a Secure Wallet: Choose wallets that support Everscale and have a strong reputation for security, such as hardware wallets for offline storage.
• Enable Two-Factor Authentication (2FA): If your wallet or exchange supports it, enable 2FA to add an extra layer of security to your account.
• Be Wary of Phishing Scams: Always verify the URLs of websites and be cautious of unsolicited messages asking for your private keys or sensitive information.
• Keep Software Updated: Regularly update your wallet software and keep your devices secure from malware and viruses.
• Backup Your Wallet: Make sure to create and securely store backups of your wallet recovery phrases and private keys in a safe location.