Key Takeaways
- Everscale is an asynchronous blockchain working on a Proof-of-Stake consensus protocol, launched in 2020 by a group of enthusiasts led by EverX and Broxus using the publicly available Telegram Open Network (TON) source code.
- The key feature of Everscale is the virtually infinite scalability without losing in decentralization and security, which makes Everscale one of the few blockchains capable of hosting the most demanding decentralized applications, including CBDCs.
- The Everscale network has a two-tier structure, consisting of the masterchain and multiple autonomous blockchains called workchains.
- Validators produce new blocks and reach the network consensus in Everscale using the novel Soft Majority Fault Tolerance (SMFT) algorithm.
- Everscale runs on an open-source virtual machine called Threaded Virtual Machine (TVM). Smart contracts for TVM are written in Threaded Solidity, a modified version of the Solidity language used in Ethereum.
- Among other distinctive technical features of Everscale are the Distributed Programming principle, made possible thanks to the “everything is a smart contract” paradigm, and the REMP protocol for managing network messages.
- The everscale ecosystem incorporates various decentralized applications, including DeFi protocols, wallets, NFT marketplaces, a domain name system, GameFi projects, a cross-chain bridge, and an encrypted email service.
- Everscale's native cryptocurrency, EVER, is traded on leading crypto exchanges. Holders of EVER tokens can lock funds in staking to earn rewards. There is also an option to participate in liquid staking with the stEVER token.
Threaded Virtual Machine (TVM): Heart of Everscale
Threaded Virtual Machine (TVM) is a virtual machine responsible for operations with smart contracts in Everscale. Built on the TON Virtual Machine designed by Nikolay Durov for the original TON, TVM received new opcodes that broadened its capabilities.
With TVM, Everscale strives to solve the blockchain trilemma, i.e. ensure an equally high level of scalability, decentralization, and security in the network. To overcome the throughput limits, TVM supports dynamic sharding built in Everscale, which is a process of dividing a single workchain into several parts called threads that verify blocks independently yet share the same data.
Below, you can see an illustration showing the difference between Threaded Virtual Machine (TVM) and Ethereum Virtual Machine (EVM):
All smart contracts in TVM are written in Threaded Solidity (T-Sol), a modified version of the acclaimed Solidity language used for smart contracts in Ethereum. Threaded Solidity is easier to learn, which makes smart contract creation in Everscale more accessible. We urge you to look into our comprehensive tutorial on writing smart contracts with Threaded Solidity, as well as the case study about recreating Gwent’s game logic on Everscale.
Masterchain and Workchains
Everscale is essentially a multichain, two-tier blockchain that consists of a single masterchain and multiple workchains, also called shards. Workchains represent the “execution” layer for smart contracts, while the masterchain establishes the foundational rules across the whole network and performs a consensus algorithm.
At the same time, each workchain is highly customizable, meaning that software developers can lay down a proprietary logic for smart contracts and even run a separate virtual machine. This makes a perfect use case for EVM-compatible or application-specific chains (appchains) within the Everscale network.
Under normal conditions, Everscale contains one masterchain and at least one workchain. To prevent overloads, a new workchain (shard) is formed once the capacity of all the current ones reaches 90%.
The multichain architecture is shown in the graphics below:
How Everscale Achieves Limitless Scalability With Dynamic Sharding
What distinguishes Everscale from other blockchains is the ability to scale almost infinitely by splitting workchains (shards) into threads, batches of addresses processed by validators concurrently, i.e. in parallel. Such a division can continue unless a new thread carries only a single blockchain account.
Combined with other solutions, dynamic sharding allows Everscale to increase its throughput depending on the network load, all without sacrificing two other blockchain imperatives: security and decentralization.
In practice, Everscale can host applications with massive bandwidth not yet seen in any other blockchain platform, such as fully decentralized games, social networks, and even national digital currencies (CBDC). Earlier, we published articles comparing Everscale’s architecture and approach to scalability to other networks: Ethereum, NEAR, and MultiversX (ex. Elrond).
SMFT Consensus Protocol: Cornerstone of Blockchain Decentralization
To achieve sufficient security, the community of developers around Everscale is working on implementing the customized Proof-of-Stake consensus model called Soft Majority Fault Tolerance (SMFT).
To prevent the propagation of false blocks, the SMFT protocol requires each block sent to the network to be sequentially verified. First, the Flow Collator, i.e. the validator that proposed a new block sends it to all nodes in the workchain for verification. Then some nodes in the workchain called Broadcast Protectors (BP) make sure that the block has been sent by at least 51% of validators and send this information to the masterchain. Next, validators randomly select a certain number of Verifiers that check the correctness of the block and then also send the proof to the masterchain.
All malicious nodes attempting to disrupt the network can be financially penalized for their actions at any stage: a Collator can lose its share for sending an invalid block, a validator can lose part of its stake for failing to send a proof-of-block receipt, and a Verifier can also lose part of its stake for failing to send a verification message.
The probability of success of the attack requires that most nodes are malicious as it is impossible to calculate in advance which node will become the Verifier. Therefore, the best strategy for all Verifiers who want to keep their stake intact is to remain honest.
“Everything is a Smart Contract” Paradigm in Everscale: What Does It Mean?
Everscale uses a unique approach to the architecture, which can be expressed in a short phrase: “Everything is a smart contract.” Simply put, every entity operating on the Everscale blockchain, including user addresses, has its own smart contract.
Only a smart contract can execute a transaction in Everscale, so every active address must have a deployed contract. The wallet is also a smart contract and is deployed in the network itself. To send assets to another address, you send an external message to that address’s contract.
Because the “Everything is a smart contract” paradigm applies to blockchain addresses, Account Abstraction is enabled in Everscale by default.
REMP: Message Management for Smart Contracts
Smart contracts share information between themselves and off-chain applications with messages, either external or internal. Everscale is the first blockchain to guarantee a strict order of message execution due to the implementation of the Reliable External Messaging Protocol, or REMP (currently in progress). The protocol arranges messages in a queue that are executed according to their logical time.
Distributed Programming: Efficient On-chain Data Storage
Everscale employs a concept called distributed programming, which handles data storage, resolving a long-standing pitfall for blockchain technology.
Unlike networks with linear execution, such as Ethereum, accounts in Everscale do not need to pay gas for calling a smart contract that stores all data on its use. Following the “Everything is a smart contract” paradigm, every address in Everscale has its smart contract that keeps its data and pays a separate storage fee to the network. Ordinary users do not need to worry about the storage fee as it is tiny.
If the account does not have enough funds to continue paying a storage fee, it gets frozen and then wiped out from the network. This method of handling blockchain data called Distributed Programming allows Everscale to free up space, while users only pay for their data.
Everscale (EVER) Cryptocurrency Utility
Everscale has the native cryptocurrency, EVER. Initially, the EVER emission rate was capped at 5 billion tokens, but in 2022, the Everscale community decided to burn 3 billion EVERs.
As in most other blockchain platforms, EVER’s main utility within the Everscale ecosystem is to pay for different network fees, including transfers, data storage, or contract execution. The token serves as the reward for validators and common users who stake EVERs through them for producing and confirming new blocks, storing the blockchain, and reaching the consensus of the Everscale blockchain.
Governance is another utility EVER has. The main governance application in Everscale is Ever DAO. It is a decentralized organization ensuring that the decision-making process in Everscale is transparent, convenient, and accessible to any member of the community.
Ultimately, Ever DAO lets EVER holders vote for community proposals or suggest new initiatives. While there is no minimum requirement for voting, to push the new proposal on Ever DAO, a user must hold at least 100,000 EVER. For a decision to be passed, it needs to get more than half of the votes cast in favor (simple majority), with a total quorum of no less than 5,000,000 EVER.
Since February 2022 when Ever DAO started working, more than 100 proposals about the Everscale development were voted on.
One small yet crucial technical detail about Ever DAO: voting is made with WEVER, not EVER. To gain voting power, you first need to wrap your EVER tokens to WEVER and then lock those tokens in the staking service.
Where to Buy EVER Tokens
As of 2024, Everscale cryptocurrency trades on major crypto exchanges, such as:
The EVER Wallet’s website has a list of all the current options for purchasing EVER tokens, including cards.
You can also get EVER using the decentralized exchange FlatQube. If you do not hold EVER or TIP-3 tokens yet, you can transfer USDT from a popular EVM network to Everscale using Octus Bridge, exchange it for wrapped EVER (WEVER) tokens on Flatqube and, finally, unwrap them to native EVER tokens using the dedicated service.
How to Join The Everscale Community
If you are inspired by the technologies behind Everscale and the ecosystem built around it, we invite you on board.
You can track the latest news about Everscale by subscribing to our official Telegram channel. To discuss the news and topics on Everscale, join our Telegram chat or Discord.
Dive into the documentation if you want to know more about the technical side of the protocol and its main components. Scroll down to read about the developer tools for those willing to build on Everscale. There is room for everyone!
Validators and Staking in Everscale
Because Everscale is a Proof-of-Stake network, it is run by the nodes called validators that produce blocks using their stakes of EVERs. Validators are split into groups maintaining both the masterchain and all the workchains. Becoming a validator requires a significant amount of EVERs. The protocol rewards each validator for their work with new EVERs.
The Everscale network is quite demanding on validator hardware and network bandwidth, but due to the multithreading feature, the load can be evenly distributed among validators, reducing requirements compared to some other high-performance blockchains.
In case a validator acts maliciously, i.e. tries to send a wrong block for confirmation, it gets automatically “punished” for the malicious behavior using the special protocol called slashing, which blocks a part of that validator’s funds from redeeming.
Everscale currently has about 200 validators working concurrently. Validation is conducted in an 18-hour cycle of elections. During a cycle, validators that hold the largest stakes confirm the masterchain blocks, while the rest are assigned to workchains. The masterchain can carry 13 to 100 validators.
If you hold EVER tokens, you can participate in staking and receive your fair share of rewards. The most straightforward way is to utilize the liquid staking service enabled in EVER Wallet. Simply choose the “Stake” option in the wallet’s UI, enter the amount to stake, and confirm the operation. You will receive stEVER tokens that you will be able to further use, for instance, add liquidity to one of the FlatQube pools.
Another option is DePools, smart contracts deployed by validators that accumulate stakes from individual users into larger “pools,” adding their cryptocurrency to validators’ stakes. Be aware that validators also charge a fee for managing a DePool. You can send a stake, monitor your daily rewards, and withdraw EVER from staking in the Ever Surf wallet.
Decentralized Applications on Everscale
Today, Everscale is not a blockchain, it is a whole ecosystem of Web3 applications that fulfill various needs, from classic crypto wallets to DeFi protocols. To see their comprehensive list of apps on Everscale, use our explorer, but here is the list of the most popular Everscale apps in the beginning of 2024:
- EVER Wallet. Crafted by Broxus, it is one of the official Web3 wallets of Everscale. Emerged as a Chrome extension, EVER Wallet has expanded into a mobile app for both iOS and Android platforms. EVER Wallet supports all prominent fungible TIP-3 tokens within Everscale, offering a built-in blockchain explorer for enhanced user convenience.
- FlatQube. Standing as Everscale's primary decentralized exchange (DEX) featuring an Automatic Market Maker (AMM), FlatQube is renowned for numerous DeFi features. Beyond token swaps, liquidity pools, and farming opportunities, FlatQube empowers users to issue new tokens and corresponding pools directly through its interface. Additionally, FlatQube boasts a DAO and its governance token, QUBE.
- Octus Bridge. This cross-chain bridge designed for Everscale facilitates effortless transfers across various networks including Ethereum, BNB Chain, Polygon and more. Unlike most crypto bridges, Octus Bridge has its governance working on top of the BRIDGE token, and leverages technologies like Multivaults and Invisible Bridge. Dive deeper into this cross-chain protocol in our ultimate guide to Octus Bridge.
- Gravix. A decentralized platform specializing in the trading of perpetual contracts. Gravix extends its offerings to include contracts for fiat currencies, serving the needs of advanced traders with a margin trading section that offers up to 200x leverage. We wrote a Gravix handbook explaining how this platform operates in detail.
- Tokstock. An NFT marketplace that supports a diverse range of non-fungible tokens, including those featuring images, videos, PDFs, and music. Tokstock stands out by allowing users to filter through popular NFT collections based on various attributes, including rarity. Everscale has a big community dedicated to developing digital assets and corresponding technologies like TrueNFT and TIP-4.
- Everplay. A GameFi project that harnesses the Everscale integration to introduce a full-scale tournament system with cryptocurrency rewards into popular mobile games like PUBG Mobile, Clash Royale and Hearthstone. Beyond that, users can form teams and undertake missions, enriching the game experience.
Other notable DApps on Everscale we would recommend you to check out are Ever Surf and Everspace wallets, Snipa, Ever Name (blockchain domain registrar), Qamon (encrypted email service), GrandBazar, and Inscriptions Protocol. Everscale blockchain explorers Ever Live and Everscan will come in handy to track transactions and other network data.
Developer tools
Everscale’s community created a toolkit for software engineers, which includes Solidity and C++ compiler APIs, software development kits (SDKs) and libraries for popular platforms and programming languages, built-in node command line tools for DApp testing, several decentralized browsers and wallets. You can find more information on developing apps on Everscale in the documentation.
We also made a special page as a convenient starting point for developing your first DApp on Everscale. There, you will find a list of useful tools, for instance:
- Evercloud: scalable endpoints for simplifying the development on TVM blockchains.
- Ever SDK: a basic client library written in Rust, which supports dynamic loading of classes providing resource-intensive components.
- Locklift: a tool similar to Hardhat that makes developing TVM smart contracts easier (find out more in a blog post about Locklift).
- Everscale API: a solution that grants access to Everscale blockchain data through a GraphQL-based query interface.
Furthermore, the page allows you to browse developer resources by the use case, as well as navigate through links on numerous code libraries and community chats.
Everscale Launch Date and Rebranding
Everscale was launched in May 2020 by a community of companies. It included EverX and Broxus which also participated in the development of the main components for Telegram Open Network (TON), a blockchain project conceived by the founders of Telegram Pavel and Nikolai Durov. Upon launch, the new network was called Free TON, making the community-driven approach, openness, and true decentralization pivotal to Everscale ever since.
In November 2021, members of Free TON openly voted for rebranding to Everscale. The new name symbolizes the project's maturity and commitment to ever-scaling capabilities, promoting its vision for a blockchain infrastructure that could accommodate the growing demands of the Web3 industry and digital economy as a whole.
