The project was originally called Free TON, but in November 2021, its community decided to rename it.

Since its inception, the Everscale protocol has included features such as multi-level blockchain, sharding, and multithreading, making it one of the fastest blockchain platforms.

Members of the Everscale community create DeFi and NFT, and EVER native coin holders can participate in the GAO voting process.

Who founded Everscale and when?

The development of the Telegram Open Network began in 2018. Pavel Durov organized the fundraiser, and his brother, Nikolai Durov, wrote the project’s white paper.

The TON network was scheduled to launch in the fall of 2019, but it was unable to do so due to a prohibition imposed by the US Securities and Exchange Commission. The regulator filed a lawsuit, and the proceedings dragged on for months.

Simultaneously, TON developers and external contractors continued to work — the source code of ready components was released into the public domain. Telegram refused to continue the trial in the spring of 2020, and Pavel Durov announced the project’s closure.

Then, in May 2020, more than a dozen companies and teams, including those involved in the development of TON, used its off-the-shelf protocol and their own developments to launch the main Free TON network. Among the project’s founders are Everstake, Simplex, Forklog creator Anatoly Kaplan, Kuna exchange, and others.

Is Everscale a fork of TON?

Everscale is not a fork of TON because TON has not yet been launched. The new blockchain made use of Telegram Open Network code, which is available to anyone.

What is the name of the Everscale native coin?

Everscale cryptocurrency has the same name as the network and is traded on various cryptocurrency exchanges such as Gate.io, MEXC, Kuna, Coinone, HitBTC, and others under the ticker EVER. Custom tokens are also issued on the Everscale blockchain.

What are the features of the Everscale blockchain?

The consensus algorithmThe network is powered by a Proof-of-Stake algorithm. Validators handle blockchain data verification and blockchain production. Blockchain data security and validity are ensured by a special protocol called Soft majority fault tolerance (SMFT). It governs the process by which a group of validators reach agreement on the “right” block to be added to the blockchain. To accomplish this, validators select one participant from among themselves to “find” and send a new block to the network. The algorithm then chooses a set of validators to confirm the “correctness” of the block.

Multi-level blockchainEverscale took on some of the TON architecture described in its white paper. This network, in particular, is made up of several blockchains of varying “levels:

Sharding and multithreadingEverscale is the first multi-threaded blockchain that uses the multicore processor principle. Since its inception, the network has used sharding, which is the parallel execution of several operations by validators. This is made possible by the blockchain’s layered architecture: each blockchain has its own data registry and group of validators that participate in the consensus procedure independently. The number of shardchains where transaction information is stored, on the other hand, is not constant and varies depending on the current workload.

Who manages Everscale?

Initially, the project management system had two levels: the founders’ council and numerous sub-governments, which were groups of active community members who came together voluntarily to work in specific areas. They held competitions to accomplish specific tasks.

In the spring of 2022, the Everscale community decided to switch to a new governance model. A decentralized autonomous organization (DAO) called Ever DAO was created, which is now the basis for voting on the development of the project.

Every EVER coin holder is eligible to vote (on the principle of 1 coin — 1 vote). To do so, you must first transfer them to the DAO website’s “wrapped” analog of WEVER, and then lock the tokens in a special smart contract. To pass a resolution, at least 500,000 WEVER holders must vote, with a majority “yes” vote. It will take 100,000 EVER to launch their initiative.

How is Everscale evolving?

The roadmap program includes improvements to the Ever OS protocol and operating system, the release of more developer tools and documentation, the development of NFT, DeFi, and GameFi, and integration with other blockchain platforms, particularly Tezos and Cardano.

The roadmap also specifies the implementation of the zk-SNARK protocol as well as the transition to a new consensus algorithm.