What Is Everscale (EVER)? How It Works & Where To Buy It

Everscale is a sharded blockchain that supports dynamic multithreading and claims to scale to one million transactions per second.

Much like other layer-one blockchains such as Ethereum, Everscale functions as a decentralized, distributed, and extremely effective data processing engine.

EVER is currently the 241st largest cryptocurrency by market cap.

 

How Everscale (EVER) Works

If you are looking for a blockchain that is capable of processing millions of transactions per second, then you should look no further than Everscale (EVER), which is a layer-one blockchain that is both quick and secure.

This system initially began with the development of the Telegram Open Network (TON), which is a decentralized ecosystem for instant messaging (Telegram), data storage, and other applications that are also decentralized. Since its inception, however, it has grown to encompass a variety of other sectors.

The Everscale blockchain is a sharded blockchain that has the capacity to process transactions over a maximum of 232 distinct chains at the same time. The masterchain keeps a record of the parameters as well as the general data from all of the other active blockchains, also known as workchains. Workchains are decentralized computing environments that can carry out smart contracts, process transactions, and store a variety of tokens.

Each workchain may contain as many as 260 sub-chains, also known as shardchains, and each of these shardchains may be responsible for hosting a portion of the work for that chain. Because of this, Everscale is able to produce the maximum number of tokens it has promised, which is 232, and achieve the high throughput it has promised.

Everscale currently implements a sharded chain architecture, which is conceptually comparable to what Ethereum is working toward achieving. Everscale functions as a proof-of-stake chain that is partitioned into several sharded chains.

This configuration allows it to handle the load of potentially several million transactions per second. Therefore, Everscale is able to significantly outperform the chains that are currently leading the market as a result of its architecture, as there is no single blockchain that is capable of handling that many transactions at once.

Users seeking more detailed information can read the whitepaper.

 

What Is Everscale (EVER) Used For?

EVER is the native token of the Everscale network. The Everscale price fluctuates constantly, and the EVER token supply will continue to increase because of the inflationary token design – it will stop once the supply reaches 5 billion.

When researching the Everscale project you’ll find lots of articles about ‘Everscale price prediction’ and wild guesses of the USD price for EVER token. Looking at the current price, most of these estimates might seem a little far-fetched but this project definitely has some serious potential.

EVER tokens are rewarded to validators that help secure the network, and this process will continue until the supply limit is reached. The price live data indicates that the EVER token supply is currently at 2 billion and the market capitalization of the token is relatively high (241st biggest crypto market cap).

However, it’s vital to do your own research and not juts blindly follow investment advice from any online blogs or your favorite podcast. It’s your money and therefore your own risk.

In addition, there are many who opt to engage in day trading or swing trading with their EVER tokens. They are seeking ways to profit from price changes and are actively hunting for chances. Although there is the possibility of making a considerable amount of money from this activity, there is also a substantial degree of risk involved.

 

Where To Buy Everscale (EVER)

EVER is available for purchase on most centralized cryptocurrency exchanges. However, you must first deposit currency into an exchange before you can buy EVER tokens on a centralized exchange. Your EVER digital wallet on the exchange will then be credited with EVER tokens.

You can purchase, trade, and store tokens at the crypto exchanges listed below:

1. Binance
2. Coinbase
3. KuCoin
4. Gate.io
5. Crypto.com

Users of centralized exchanges need to truly understand the dangers involved before making any purchases of tokens. Storing tokens on an exchange is the same as giving up possession of the corresponding private keys. This is because if the exchange is hacked, the user’s tokens could be stolen.

Therefore, tokens are usually kept in a digital or physical wallet by their owners. You can buy a wide selection of wallets optimized for storing tokens on the market. The most well-known and dependable digital wallet is MetaMask.

 

FAQs About Everscale (EVER)

How long has Everscale (EVER) existed?

The Everscale network was initially launched in May 2020. The protocol has quickly grown to become one of the most popular projects mainly due to its advanced technology and low transaction fees.

The community growth of the project has been phenomenal and many individuals are incredibly excited about the future prospects of Everscale.

What’s controversial about Everscale (EVER)?

There is a lot of interest in the decentralized finance sector from both retail and institutional investors. The industry is thriving, and there are frequent new innovations taking place within it; however, due to its rapid growth and lack of regulation, the industry is also vulnerable to exploitation. Millions of dollars have been lost by customers due to these flaws over the past few years.

One must always consider the reliability and logic of the data they find when assessing projects. If you’re thinking about investing money into a cryptocurrency venture, you should first learn as much as possible about them.

Let’s take a look at the biggest controversy surrounding Everscale (EVER).

• Token supply – The total supply of EVER tokens will be very high (5 billion). Many individuals are deterred by the token supply and therefore refrain from investing in the project.
• Even though the project has delivered enormously on its claims, many people believe that it will struggle to garner mass adoption because of its token supply. As the token supply increases it will have a negative impact on the EVER price (if there isn’t enough buying demand).
• This dilution will likely cause negative price action and many potential investors are aware of this.

How many Everscale (EVER) tokens are there?

At the time of writing, Everscale (EVER) has a circulating supply of 1.24B EVER (62% of the total supply).

The total supply of Everscale (EVER) is 5,000,000,000.

The max supply of Everscale (EVER) is 5,000,000,000.

Can Everscale (EVER) be mined?

Everscale (EVER) can’t be mined. Token holders, on the other hand, have the opportunity to earn rewards by taking part in liquidity pools and a variety of other DeFi products.

Users should exercise caution when interacting with websites that advertise EVER mining services. These websites are engaging in deceptive advertising, and users who do not exercise caution could put themselves at risk of suffering losses that are irreversible.

People using decentralized platforms have access to a variety of different ways to earn rewards using their cryptocurrency assets. Staking, farming, and LPs are all activities that users can begin participating in immediately upon connecting their digital wallets to the platform.

What is the market cap of Everscale (EVER)?

The market cap of Everscale (EVER) is the total amount of coins in circulation multiplied by the current EVER price.

Everscale (EVER) Market Cap = 1.24B EVER x $0.10 = $128 million (241st largest market cap).

The market cap is continuously fluctuating as the market changes.

 

Biggest Competitors Of Everscale (EVER)

The crypto market is incredibly competitive and there are several hundred crypto projects emerging on a monthly basis. Projects like Everscale have dedicated a lot of time, money, and other resources to stand out in what many may call an ‘oversaturated’ crypto market.

However, the project still faces competition from a number of projects that have already managed to garner massive investments and have built huge communities.

The biggest competitors of Everscale (EVER) are:

• Ethereum
• Avalanche
• Fantom
• Solana

 

What Are The Future Plans For Everscale (EVER)?

Everscale has committed to making concerted efforts to bring additional users onto the platform. In addition to this, the protocol will place an emphasis on expanding the ecosystem by contributing as many useful products as is practically possible.

Everscale is already well-known and is thought to be one of the most forward-thinking projects currently available on the market. In addition to this, the protocol will work toward developing additional value proponents in the hopes of increasing the amount of exposure and adoption the project receives.

 

Pros And Cons Of Everscale (EVER)

Pros

• Sharded blockchain design – Unlike the other market leaders in the blockchain space, Everscale uses a novel architecture composed of workchains and shardchains. Everscale is well-suited for applications such as handling large-scale transactions at institutions like banks and payment processors. To sum up, Everscale is the blockchain that Ethereum is aspiring to be.
• Transaction throughput – The Everscale team aims to be able to process 1,000,000 transactions per second. Utilizing its unique technology and novel mechanisms would make Everscale the most advanced protocol in the eyes of many.

Cons

• Competition – The market is extremely competitive, and it will be difficult for any company to achieve dominance in this space given the presence of formidable competitors such as Ethereum, Fantom, Avalanche, and Solana.