The infinitely scalable blockchain Everscaleachieved a transaction rate of 64,000 TPS in live testing and is undeniably one of the fastest chain, and looking at the first half of 2022, its development progress is not slow.
Despite the severe bearish trend in the crypto market caused by the collapse of Terra’s LUNA token and UST stablecoin, and further exacerbated by the serious crisis at crypto lender Celsius,Everscalecontinued to develop. Everscale continued to further strengthen its already considerable advantage, achieving one roadmap goal after another: listings on major crypto exchanges such as Huobi, KuCoin, and BitMartare are a testament to the blockchain’s achievements during this period.
Everscale’stransaction costs, which were already relatively very low even before the recent developments, were still green for most tokens and positive for the industry in general in Q1, when the platform’s gas fees were only 0.014 EVER (currently about $0.0014). It was also good news for those interested in building on the blockchain, as all necessary documentation, from validators, developers, NFT creators, to general users, is now available online in theplatform’s documentation database
Everscalealso branched out in the first quarter and launched its lending protocol, which allows users to earn income by borrowing and lending Wrap EVER tokens (WEVER) and USDT. On top of that, the team got a Cardano-based decentralized exchange, DEXADA, back on track, offering the community the still rare ability to transfer liquidity from Cardano to other blockchains.
Additionally, the NFT SDK tool was released in Q1, making the NFT SDK available to Everscale developers; Everscaledevelopers have even more ways to cover all possible NFT use cases available, resulting in enhancements to the platform’s advanced TIP-4 NFT standard, which was successfully implemented in the second quarter. The standard can already be found on the NFT marketplace GrandBazar.
Another new arrival in the first quarter was the TIP-3 euro peg stablecoin EUPi, now available inFlatQube,a DEX that is an important part of Everscale’s ecosystem.
With crypto winter coming in Q2, one might have expected things to slow down considerably.48} Everscale proved that it had warmed up in the previous quarter and actually started to lead the way.
In the second quarter,Everscalebegan its transition to the new SMFT (Soft Majority Fault Tolerance) consensus
. This transition will take several months and involves a complex process as all core components must be verified for consistency before taking such a large step.
At this stage, the SMFT code is ready and all that remains is to deploy it along with REMP (Reliable External Messaging Protocol). This will increase security and improve message handling on the network.
In the second quarter, product releases went a step further, and in addition to the aforementioned TIP-4 NFT standard, Everscale announced Evercraft, the first demonstration of the future GameFi SDK. The metaverse holds great potential for the development of the crypto industry, and Everscale’s ability to handle thousands of players simultaneously makes it an ideal entry point for such projects as well as MMORPGs. As such, the team hopes to make waves in this area in the near future by bringing in more game developers.
Another new solution that saw the light of day in the second quarter was the“Git Open Source Hodler”, a Git Open Source Hodler (GOSH)developed bythe EverX company. As the name implies, it is a decentralized git that utilizes Everscale technology, and as the first git blockchain, it is a very pioneering development. So it’s no surprise thatGOSHis getting a lot of attention; GOSHhas already been recognized by the big boys, including a partnership with Docker.78} However, GOSHis a separate company fromEverscale, which is a separate company from
Another product designed to make developers’ lives easier was also announced in Q2: Ursus, a formal verification framework that evolved from the network’s industrial tools for smart contract verification Ursus includes the Ursus programming language to It also includes a translator to Solidity. Developers working with smart contracts are well aware of how expensive and time-consuming verification can be. They will appreciate that this one-of-a-kind product will save them hundreds of hours of project time by making the process easier.
Everscalealso completed a DAO constructor milestone in the second quarter and now boasts two DAOs, EverDAO and Octusbridge DAO. And finally, the Milomeda Rollup, the L2 from Ada to Octus Bridge, has been integrated. This is a big step forward and brings Everscale closer to a decentralized hub for a wide variety of projects, and it is far from the last step in this regard as Broxus is continually working to add more chains to its product.
As you can see,Everscale burned a lot of rubber in the second quarter, running through its roadmap and achieving many of the key goals set. With such ambitious goals, however, it is perhaps unsurprising that we have prioritized our infrastructure projects and shifted some points of focus to the third quarter. On the agenda for this quarter are the private workchain currently being tested, the EVM workchain, the Tezos bridge, and the NFT bridge.
So what else is on the agenda for
Everscale in the second half of the year? Regardless of whether the green candle continues to be lit on crypto, Everscale will no doubt continue to burn the midnight oil to further roll out planned developments and gain more visibility in the industry. As for promos, a lot of work is going on behind the scenes with conferences, hackathons,grantsand more. There are also new incentives for developers who want to join the network. Everscaleincorporates nearly all of the latest blockchain concepts, and with few other projects whose technology is comparable, it is only a matter of time before industry and individual eyes begin to properly focus on this fast bullet running straight to mass adoption.
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