With live-tested transaction speeds of 64,000 TPS, the infinitely scalable Everscale blockchain is undeniably one of the fastest on the market, and judging by the first half of 2022, development progress has been no different, no less rapid.
Despite seriously bearish trends in the crypto market, largely driven by the collapse of Terra’s LUNA token and UST stablecoin, and later exacerbated by a major crisis for cryptocurrency lender Celsius, Everscale continued to amplify its already massive gains at a knot pace, ticking off many roadmap targets. . if you go. Listings on major crypto exchanges such as Huobi, KuCoin, and BitMartare attest to blockchain’s performance over the period.
Everscale’s transaction costs were already relatively very low before recent developments, but in the first quarter, which was still green for most tokens and positive for the industry in general, the platform’s gas rates fell to only 0.014 ever (currently about $ 0.0014). There was also some good news for anyone looking to build on the blockchain as all the necessary documentation for everyone from validators and developers to NFT creators and regular users became available online in the platform’s docs database.
Everscale is also branching out into Q1, launching its Lending Protocol, which users can earn by borrowing and lending wrapped EVER (WEVER) and USDT tokens. In addition, the team launched the Cardano-based decentralized exchange DEXADA, giving the community the still-rare opportunity to transfer liquidity from Cardano to other blockchains.
As if that wasn’t enough, the release of the NFT SDK tools in Q1 allowed Everscale developers to use even more methods to cover all possible NFT use cases, amplifying the capabilities of the standard.TIP-4 NFT highly advanced platform, which was successfully implemented in the second quarter. The standard can already be found on the NFT GrandBazar marketplace.
TIP-4 NFT SDK on Everscale.
Also new in Q1 was the Europe-pegged stablecoin EUPi TIP-3 on FlatQube, the DEX, a key part of Everscale’s ecosystem.
We might have expected things to slow down significantly with the start of the crypto winter in Q2; however, then Everscale proved that they had only warmed up to really making leads in the previous quarter.
In the second quarter, Everscale began migrating to the new SMFT (Soft Majority Fault Tolerance) consensus. The move will take several months and involves a complex process as the team must ensure all core components are aligned before such an important step is taken.
The SMFT protocol and security.
At this point, the SMFT code is ready and only needs to be implemented with Reliable External Messaging Protocol (REMP), which will increase security and improve message processing in the network.
Everscale’s REMP, what is it?
Product releases accelerated in the second quarter and in addition to the TIP-4 NFT standard mentioned above, Everscale launched Evercraft, the first demo of the upcoming GameFi SDK. The Metaverse offers great prospects for the evolution of the crypto industry, and Everscale’s ability to handle thousands of players simultaneously positions it ideally to venture into such projects as well as MMORPGs. As such, the team aims to bring in more game developers in the near future and create a stir in this area.
Another new solution that emerged in Q2 is the Open Source Git Hodler, or GOSH, developed by EverX. As the name suggests, this is a decentralized git that uses Everscale technology, and as the first blockchain git, this is quite a groundbreaking development. So it’s no surprise that GOSH has gained recognition from major players who are already Docker partners. While GOSH is separate from Everscale, the latter will benefit from the Docker partnership, as it will certainly raise awareness of Everscale’s technology in the wider IT industry and attract key new partners to the network.
Another product designed to make developers’ lives easier was also released in Q2: Ursus – a formal authentication framework that evolved from network industry tools for intelligent contract authentication. Ursus also includes a translator from the Ursus programming language to Solidity. All developers dealing with smart contracts are well aware of the cost and duration of verification. So they are sure to appreciate the hundreds of project hours this unique product saves them by making the process so much easier.
Everscale also reached its DAO manufacturer’s milestone in the second quarter, with now two DAOs: the EVER DAO and the Octus Bridge DAO. And finally, the Milomeda Rollup – an L2 for Ada at Octus Bridge – is integrated. It was a big step, bringing Everscale closer to becoming a decentralized hub for a wide variety of projects, and it’s far from the final step in that regard, as Broxus is constantly working to add more channels to its products.
As we can see, Everscale burned a ton of rubber in the second quarter, continuing its roadmap and achieving many of its key goals. Still, with a target list as ambitious as this one, perhaps it’s only natural that infrastructure projects were prioritized and some items were shifted to the third quarter. On the agenda for the current quarter are Private Workchains, which are currently in testing, EVM Workchains, Tezos Bridge and NFT Bridge.
So what else will Everscale do in H2? Well, whether or not the green candles continue to burn for crypto, Everscale will certainly continue to burn midnight oil to roll out more of its planned developments and gain more recognition in the industry. When it comes to promotion, there’s a lot of behind-the-scenes work going on, including conferences, hackathons, grants, and new incentives for developers to join the network. Everscale encompasses nearly every modern blockchain concept, and there are few other projects whose technology is comparable, so it’s only a matter of time before the eyes of industry and individuals begin to properly focus on this fastball headed straight for the road. is towards mass acceptance.
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