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Everscale, an infinitely scalable, blockchain that can handle 64,000 transaction per second (live-tested) is clearly one of fastest. If H1 2022 is any indication, it is also advancing at a rapid pace.
Despite seriously bearish trends in the crypto market triggered in large part by the collapse of Terra’s LUNA token and UST stablecoin, and later compounded by a significant crisis for crypto lender Celsius, Everscale continued to bolster its already considerable advantages at a rate of knots, ticking off plenty of roadmap goals as it went. Listings on major crypto exchanges such as Huobi, KuCoin, and BitMartare a testament to the blockchain’s achievements over the period.
Everscale’s transaction costs were already comparatively very low before the recent developments, but Q1, which was still a green one for most tokens and positive for the industry in general, saw the platform’s gas fees reduce to just 0.014 EVER (currently around $0.0014). There was good news for anyone interested in building on the blockchain too, as all necessary documentation for everyone from validators and developers to NFT creators and regular users became available online in the platform’s docs database.
Everscale launched its lending protocol during the first quarter. It allows users to borrow, lend, and receive WEVER tokens and USDT. In addition, they launched DEXADA (a Cardano-based exchange decentralized platform), which offers the community the unique ability to transfer liquidity between Cardano and other blockchains.
As if that wasn’t enough, the release of NFT SDK tools in Q1 enabled Everscale developers to take advantage of even more methods to cover all possible NFT use cases, thus boosting the capabilities of the platform’s highly advanced TIP-4 NFT standard, which was successfully implemented in Q2. It can be found already on GrandBazar’s NFT marketplace.
TIP-4 NFT SDK on Everscale.
Another new arrival in the first quarter was that of the TIP-3 euro-pegged stablecoin EUPi on FlatQube, the DEX, which is an important part of Everscale’s ecosystem.
One might expect that things would slow down significantly with the start of the crypto winter in Q2 but Everscale demonstrated it had just been warm up in quarter one to really begin blazing new trails.
Everscale started its migration to the Soft Majority Fault Tolerance agreement (SMFT), in the second quarter. This complex move could take many months as it requires alignment of core elements.
Security and protocol for SMFT.
This stage is complete. The SMFT Code can be used along with Reliable External Messaging Protocols (REMP) to increase security and speed up message processing.
Everscale’s REMP – what is it?
Everscale released Evercraft in Q2. This was the first demonstration of its GameFi SDK. The metaverse holds great prospects for the onward course of the crypto industry, and Everscale’s capability to handle thousands of players simultaneously ideally positions it to venture into such projects, as well as MMORPGs. This is why the team wants to attract more game developers and create some buzz in this space.
EverX’s Git Open Source Hodler or GOSH was another solution to emerge in the second quarter. The Git Open Source Hodler, or GOSH, is a distributed git that leverages Everscale tech. This pioneering innovation is, as its name implies, a first-ever git blockchain. It’s not surprising that GOSH is now being recognized by major players who have partnered with Docker. Although GOSH is separate from Everscale, the latter will benefit from the Docker partnership, as this is sure to raise awareness of Everscale’s tech in the wider IT industry and attract major new partners to the network.
A further product designed to make developers’ lives easier also came out in Q2: Ursus – a formal verifications framework that evolved out of the network’s industrial tools for smart contract verification. Ursus includes an interface to translate the Ursus programming language into Solidity. Smart contract developers will know how time-consuming and expensive verification can be. They’ll appreciate the many hours that this unique product saves them.
Everscale has also reached the DAO Constructor milestone for the second quarter. Now, Everscale boasts two DAOs: EVER DAO (and Octus Bridge DAO). And finally, the Milomeda Rollup – an L2 for Ada to Octus Bridge – was integrated. This was a big step, bringing Everscale ever closer to becoming a decentalized hub for a wide variety of projects, and it’s far from the last step in this regard, as Broxus is working continuously on adding more chains to its products.
Everscale ran a lot of rubber during the second quarter. It raced through its plan and achieved many of the main goals. Nevertheless, with a list of targets as ambitious as this, it’s perhaps only natural that infrastructure projects were prioritized and some points got shifted to Q3. Private workchains are on the agenda, currently in testing. EVM workchains are also being evaluated.
What else is Everscale doing in H2 then? It doesn’t matter if the green candles continue lighting up for cryptocurrency, Everscale is going to keep working tirelessly in order to bring more developments to the market and increase industry awareness. Promo is a big part of Everscale’s work. There are conferences, hackathons and grants that take place behind closed doors. Developers who want to be part of the network will also receive incentives. Everscale incorporates almost all modern blockchain concepts, and there are few other projects whose tech is comparable, so it’s only a matter of time before the eyes of the industry and individuals start to properly focus on this speeding bullet coursing straight for mass adoption.
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