Bitcoin.com Media
Bitcoin.com is the premier source for everything cryptocurrency related. Contact [email protected] to talk about press releases, sponsored posts, podcasts and other options.
Everscale runs through H1 2022 – Sponsored Bitcoin News
sponsored
With live-tested transaction speeds of 64,000 TPS, the infinitely scalable blockchain Everscale is undeniably one of the fastest out there, and if the H1 2022 is anything to go by, the development is no less rapid.
Despite severe bearish trends in the crypto market, largely triggered by the collapse of Terra Terra LUNA token and UST stablecoin, and later exacerbated by a significant crisis for cryptocurrency lender Celsius, Everscale continued to strengthen its already significant advantages at a rate of knots. of many roadmap destinations eventually. Listings on major crypto exchanges such as Huobi, KuCoin and BitMartare are proof of the blockchain’s performance during the period.
Everscale’s transaction costs were already relatively low before the latest development, but Q1, which was still green for most tokens and positive for the industry in general, saw the platform’s gas charges reduced to just 0.014 EVER (currently around $ 0.0014). This was good news for anyone interested in building on the blockchain as well, as all the necessary documentation for everyone from validators and developers to NFT creators and regular users became available online in the platform’s document database.
Everscale also branched out in the first quarter, launching its lending protocol, whose users can benefit from borrowing and lending wrapped EVER tokens (WEVER) and USDT. On top of that, 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 NFT SDK tools in Q1 enabled Everscale developers to take advantage of even more methods to cover all possible NFT use cases, thus increasing the capabilities of the platform’s highly advanced TIP-4 NFT standard, which was successfully implemented in Q2. The standard can already be found on the NFT marketplace GrandBazar.
TIP-4 NFT SDK on Everscale:
Another new arrival in the first quarter was the TIP-3 euro-pegged stablecoin EUPi on FlatQube, DEX, which is an important part of Everscale’s ecosystem.
We could have expected things to slow down considerably with the start of the crypto winter in Q2; However, that was when Everscale proved that it had only been warmed up in the previous quarter to really start burning trails.
In the second quarter, Everscale began its migration to the new consensus for Soft Majority Fault Tolerance (SMFT). The move will take several months and involves an intricate process, as the team must make sure to adjust all the core components before taking such a big step.
SMFT protocol and security:
At this stage, the SMFT code is ready and only needs to be deployed with the Reliable External Messaging Protocol (REMP), which will increase security and improve messaging in the network.
Everscales REMP – what is it?
Product releases were stepped up in Q2, and on top of the TIP-4 NFT standard mentioned above, Everscale launched Evercraft, the first demo of its future GameFi SDK. Metaverset has great prospects for the further course of the crypto industry, and Everscale’s ability to handle thousands of players while positioning it ideally for embarking on such projects, as well as MMORPGs. As such, the team is looking to bring in more game developers in the foreseeable future and make some waves in this area.
Another new solution that saw the light of day in the second quarter was the Git Open Source Hodler, or GOSH, developed by EverX. As the name suggests, this is a decentralized git that utilizes Everscale technology, and as the first git blockchain, it is a rather groundbreaking development. It is therefore not surprising that GOSH has received recognition from major players, who are already collaborating with Docker. Although GOSH is separate from Everscale, the latter will benefit from the Docker partnership, as this is guaranteed to raise awareness of Everscale’s technology in the broader IT industry and attract large new partners to the network.
An additional product designed to make developers’ lives easier also came out in Q2: Ursus – a formal verification framework that evolved from the network’s industrial tool for smart contract verification. Ursus also includes a translator from the programming language Ursus to Solidity. All developers working on smart contracts will be well aware of how expensive and time consuming verification is, so they are guaranteed to appreciate the hundreds of hours of project time that this unique product can save them by making the process so much easier.
Everscale also completed its DAO Constructor milestone in the second quarter, and now boasts two DAOs: EVER DAO and Octus Bridge DAO. And finally, the Milomeda Rollup – an L2 for Ada to the Octus Bridge – was integrated. This was a major step, which led Everscale to become an increasingly decentralized hub for a wide range of projects, and it is far from the last step in this regard, as Broxus is constantly working to add more chains to its products.
As we can see, Everscale burned a lot of rubber in the second quarter, drove through the roadmap and achieved many of the most important goals that were set. Still, with a list of goals as ambitious as this, it is perhaps only natural that infrastructure projects were prioritized and some points were moved to Q3. On the agenda for the current quarter are private labor chains, which are now undergoing testing, EVM labor chains, the Tezos bridge and the NFT bridge.
So what else should Everscale do in H2? Well, regardless of whether the green lights continue to light up for crypto, Everscale will certainly continue to burn the midnight oil to roll out more of the planned development and gain more recognition in the industry. When it comes to promos, there is a lot of work behind the scenes, including conferences, hackathons, grants and new incentives for developers who want to join the network. Everscale incorporates almost all modern blockchain concepts, 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 focus properly on this speed sphere that goes straight to mass adoption.
This is a sponsored post. Find out how to reach our audience here. Read disclaimer below.
Photo credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or recommendation of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the Company nor the author is liable, directly or indirectly, for any damage or loss caused or alleged to have been caused by or in connection with the use of or reliance on the content, goods or services mentioned in this article.
