Everscale

Everscale
Official logo of Everscale
Denominations
Symbol	Ē
Ticker symbol	EVER
Development
White paper	Everscale is the trustless worldwide operating system.
Initial release	May 7, 2020 (2020-05-07)
Development status	Active
Written in	Rust
Developer(s)	EverX Labs, Broxus and others
Website	https://everscale.network/
Ledger
Timestamping scheme	Proof-of-stake
Block explorer	ever.live everscan.io
Supply limit	2 billion

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Everscale is a fifth generation PoS blockchain, with a native token called Everscale (EVER). In Everscale’s architecture, special attention is paid to solving the trilemma of security, scalability, and decentralization.

The key feature of Everscale is the ability of the blockchain to dynamically divide into threads, depending on the system load. Each thread forms its own blockchains. This guarantees parallel execution of operations, enabling the network to achieve a total execution speed of more than 1,000,000 transactions per second with low transaction costs and four-second finalization.

Everscale is completely based on a system of smart contracts executed in its own virtual machine: TVM (Trustless Virtual Machine). A change in the blockchain can only be made by execution of a smart contract. Smart contracts interact with each other and users through messages built in a single queue.

Everscale is in the top 200 blockchains by market capitalization.

EVER

Everscale native token is called EVER. All network commissions are paid in EVER. EVER's top emission is about ~2 billion coins. The initial issue of tokens was 5 billion, but following a community decision, 3 billion EVER were burned by sending tokens to a "black hole" account.

The EVER coin is traded on exchanges such as Gate.io, MEXC, Bitrue, Coinone, Bitmart, KuCoin and others.

The native EVER token is also available on the Ethereum and BNB Chain networks..

Tokens on Everscale

The Everscale network also provides the opportunity to issue tokens. The standard for interchangeable tokens is called TIP-3. TIP-3 is the Everscale token standard describing the basic principles of building smart token contracts. Smart contracts of user wallets are only allowed to deploy the root smart contract from their address. This standard supports the circulation of EVER – WEVER wrapped tokens for DEX and Bridge operations.

The objective of this standard is to implement the fundamental features of Everscale, such as multithreading. Due to the standard, each account stores its own smart contract that processes transactions with tokens, unlike ERC-20 tokens, where one large smart contract stores information about all accounts.

TIP-4 is a standard for non–fungible tokens (NFTs), which also implements the multi-threaded processing capabilities of Everscale and has architecture similar to TIP-3.

Management

Everscale is managed as a decentralized autonomous organization (DAO). All decisions on project development are taken based on voting by EVER token holders in the EVER DAO system. For a decision to be made, it is necessary to raise at least 5,000,000 coins and get a majority of votes in favor. To put forward an initiative, token holders need to lock 100,000 EVER in the stack.

Everscale features

Smart contracts system

Everscale implements a unique approach to smart contracts, assuming that "everything is a smart contract." The exchange of information between smart contracts, as well as between user and smart contract, occurs through messages.

There are two types of messages within the network:

• External messages are sent from an outside blockchain or come to the blockchain from outside. These messages are signed with the cryptographic signature of the account owner and organize the interaction of the Everscale blockchain and the user (dApp) without carrying information about the currency.
• Internal messages are sent from within the blockchain from one Everscale blockchain account to another. Only these messages can carry information about the cryptocurrency.

Both internal and external messages are queued and necessarily executed in a strictly determined order, due to implementation of the Reliable External Messaging Protocol (REMP).

In Everscale, a transaction can only be performed by a smart contract; therefore, each active address must have an expanded smart contract. Here, a wallet is also a smart contract distributed within the network itself. During the operation, the client performs programmed functions and independently exchanges messages with other smart contracts.

The wallet address is discovered by combining the user's public key and the hash of the source data, including the code of the smart contract deployed. Given that a user can deploy any number of smart contracts, a public key in Everscale can have millions of addresses associated with it. This leads to a new paradigm for blockchain developers called "distributed programming."

Multithreaded architecture

Everscale has a two-level structure and consists of a Masterchain and workchains (shards). The Masterchain is responsible for validating Everscale. It contains the block hashes of all workchains. Each new workchain is formed when the capacity of all current workchains is used by 90%, in order to prevent overload. Both the Masterchain and the workchains are split into threads depending on the load. The threads are their own combinations of addresses, processed by their own group of validators who are selected on the basis of a pseudo-random algorithm from the group of validators of the blockchain for a short time.

This splitting can reach a limit, when there is one blockchain account in the shard with a smart contract contained in it. At the same time, all threads are interconnected, and if data from one thread is needed for calculation of the other, this is performed directly, bypassing the masterchain, which is only needed for confirmation. When the load is insufficient, the threads are joined into one.

Validation and staking =

Validators are nodes that produce blocks on both the Masterchain and the workchains. Each validator must lock 350,000 EVER or more in order to join the network and be able to produce and validate blocks. If a validator acts maliciously, i.e. tries to send incorrect blocks, slashing is applied to them, meaning a decrease in the share of locked funds.

The Everscale network has high requirements on the equipment of validators and network bandwidth; however, due to the multithreading of the blockchain, the load can be evenly distributed among validators, which reduces the requirements for machines compared to some other highly productive blockchains.

There are currently about 180 validators registered in Everscale. For every 18-hour cycle, elections are held among them. The owners of the maximum stakes become validators of the Masterchain blocks; the rest of those selected validate the workchain. The maximum number of main validators is 100; the minimum is 13.

DeBots

A DeBot (Decentralized Bot) is a special kind of smart contract that can be executed both on the blockchain and locally. When executed locally, a DeBot ensures the operation of user interfaces, such as encryption, signatures, encoding with parsing and JSON interface formation, working with GraphQL, reading, searching, sending requests, and receiving information about accounts, transactions, and blocks.

DeBots do not have access to the user's keys, which guarantees secure interaction. Unlike Web3, DeBots do not need an additional layer between users and Everscale. They can be used for a variety of things, like games, wallets, etc.

The aim of DeBots is to provide truly decentralized interaction between user and blockchain.

Interactivity

Due to the fact that the order of processing messages in the Everscale blockchain is strictly determined, it is possible to calculate the state of the blockchain before transactions are completed.

This means that the user will see the result of their transaction within 0.2 seconds, although its completion will occur later.

This makes Everscale not only the fastest blockchain in terms of the total number of transactions, but also the most interactive, blurring the line between a regular application and an application using blockchain technology (dApp).

The SMFT protocol and security

To achieve security, Everscale implements a version of the Proof-of-Stake consensus model called the Soft Majority Fault Tolerance (SMFT) protocol.

To prevent the spread of false blocks, the SMFT protocol requires sequential verification of each block sent to the network:

• First, the flow collator, i.e. the validator offering a new block, sends it to all nodes of the workchain for verification.
• Next, some nodes of the workchain, called Broadcast Protectors (BP), make sure that the block has been sent to at least 51% of validators, and send this information to the Masterchain.
• Then, the validators randomly select a certain number of verifiers who must verify the correctness of the block and then also send proof to the Masterchain.

All malware trying to disrupt the network can be financially punished for its actions at any stage: the collator may lose its share for sending an invalid block and the validators may lose their share for not sending proof of receipt of the block, while the classifier may lose part of its share for not sending a verification message.

To perform a successful attack, most nodes would need to be malicious, because it is impossible to calculate which node will become the verifier. Therefore, the best strategy for all verifiers who want to keep their share intact is to remain honest. The security of the SMFT protocol is thus comparable to that of Bitcoin.

Fees

Everscale fees comprise several types:

• Storage phase: a storage fee for storing the contract code and data on the blockchain.
• Crediting phase: a fee for importing a message into the blockchain. There are many types of such payment, depending on the origin and routing of the message, commonly referred to as import fees.
• Computing phase: collects gas fees by paying for the execution of a smart contract inside a virtual machine.
• Action phase: collects some payments for composing outgoing messages and performing special manipulations, collectively referred to as an action fee.
• Bounce phase: If this happens, a fee is collected for forwarding a special message, the "bounce," to the original sender.

Fees do not depend on the transfer amount – they are based on the smart contract being executed. The average total fee at the moment is ~0.1 EVER.

Development tools

Everscale’s set of development tools includes Solidity and C++ compiler APIs, SDKs and libraries for popular platforms and programming languages, built-in node command-line tools for dApp testing, and several decentralized browsers and wallets.

Ever SDK

Ever SDK (Everscale Software Development Kit) is a basic client library used for the development of distributed applications (dApps). This basic client library is developed in Rust and can be connected dynamically.

Ever SDK supports dynamic loading of classes that provide work with resource-intensive components and functions, such as the TVM, the Ever transaction executor, communication with ABI, data transfer and encryption functions for the development of distributed applications, such as dApps, mobile dApps, web dApps, server dApps, corporate dApps, etc. The library supports many programming languages and platforms.

NFT SDK

Everscale solves one of the problems of NFT tokens related to the lack of standardized practices for their use. NFT functionality includes conditions of ownership, transfer of control, release, incineration, etc. Within the Everscale community, it is proposed to develop a standard toolkit using the NFT SDK that can be easily applied in practice for working with non-interchangeable tokens. The Everscale NFT SDK is based on the idea of creating a set of library implementations of basic functionality that can be extended without interfering with the main implementation.

Therefore, for such practices as token burning or working with closed collections (where only the author can create something), or with open collections, when any user can create an NFT within the collection, but with the obligatory signature of the author, Everscale offers a basic client library, where any user can get what they need.

Invisible Bridge

A service designed to work with the TVM virtual machine, bypassing the blockchain itself. For external users who do not have EVER tokens, when Invisible Bridge is accessed, the credit processor is triggered. As a result, users do not need to independently exchange tokens to pay for gas and deposits. After the operation is completed, Invisible Bridge automatically calculates the funds spent on it in the currency that the user owns and in an amount equivalent to the amount spent in EVER provided by the credit processor.

Ecosystem

Everscale’s developers include several development teams, including Evers, Boys, SVOI.dev, Radiance, ITGold, Pruvendo, Hyperflex, etc. Everscale’s validators include major international validators: p2p.org, Certus One, Chorus one, and Everstake.

Nowadays, almost 700,000 accounts have been opened on the Everscale network and more than 66 million transactions have been processed. An average of 40,000 new accounts are opened per month.

The base layer on top of the Everscale protocol is the Ever OS operating system, which has a wide range of tools for development on Everscale including SDK, cloud, compilers, and useful bindings.

Everscale ecosystem Products =

• Wallets: Several wallets with various functions have been developed for Everscale: EverSurf, EVER Wallet, Everspace, and ScaleWallet.
• Financial protocols:
  • FlatQube is a decentralized exchange (DEX) for digital assets that provides users with the opportunity to exchange cryptocurrencies and a variety of passive income options using farming and staking mechanisms.
  • Flex is a new generation DEX, made in the form of an order book. It stands out due to its unprecedented performance comparable to centralized exchanges. Its distinctive feature is that each exchange order is a smart contract distributed on the network which is executed automatically, without KYC, and at each stage of execution the assets belong only to the owner
  • EverLend is a lending protocol whose users can both borrow against collateral from decentralized stock pools and supply liquidity to them.
• Bridges
  • Octus Bridge allows both token transfer and seamless transfer of liquidity between the Everscale, Ethereum, Binance Smart Chain, Fantom Opera, Polygon, Avalanche, and Milkomeda networks.

ADAEVER is a bridge between the Everscale and Cardano networks.

• NFT marketplaces
  • GrandBazar is a trading platform selling NFT tokens.
  • ChessNFT is an NFT marketplace on the Everscale blockchain, launched jointly with FIDE during the World Chess Championship in 2021
• Launchpads:
  • EverStart is a launchpad platform for crowdfunding projects on the Ethereum, Polygon, BNB Chain, and Everscale blockchains.
  • The Killer Whale Podcast is an online show with presentations of investment projects in the Everscale ecosystem and with its own KWT tokens.
• Social projects

Everscale is the organizer and sponsor of large-scale conferences on the study and development of the crypto industry.

History

Launch

After Telegram announced completion of work on TON, the project code was posted in open access under the GPL license. This gave independent projects the chance to implement TON's ideas.

On May 7, 2020, a group of professional validators and developers, including the EverX team (the one that developed an operating system on top of TON), as well as Broxus, Everstake, Chorus one, Certus one, P2P.org , Dokia Capital, Bitscale Capital, MinerGate, Block rock, and several others, launched the Free TON blockchain platform. The launch of the project was broadcast live on YouTube. The blockchain token was named TON Crystal. Later, teams such as Warp Capital, IT Gold, and several others also became members of the global management.

The blockchain development concept contained the idea of meritocratic distribution of project tokens through contests initiated by users themselves and aimed at improving the network and introducing new solutions.

Blockchain evolution

Throughout 2020 and the first half of 2021, the blockchain was substantially redesigned. The Everscale whitepaper was released, which determined the further development of the network. The node's software was completely redesigned using the Rust programming language, leading to a substantial increase in the network’s scalability and a significant technological change. The network thus became an original solution of the developers. This led to the idea of rebranding being discussed among both users and developers.

Rebranding

Voting was completed on November 8, 2021, which resulted in the Free TON project's name being changed to Everscale. The reason given for rebranding was the need to emphasize the significant differences from TON formed as a result of the network’s development. As a result of this rebranding, there were also changes to the names of all the leading objects in the ecosystem. The currency changed its name from TON Crystal to Everscale, and the token ticker changed its name to EVER. Everscale launched a grant distribution system.

Links

1. Website
2. Everscale Wiki
3. Everscale Blog
4. EverX is the lead developer of the Everscale blockchain
5. Broxus is a developer of the Everscale blockchain ecosystem

References

This article "Everscale" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Everscale. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.

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