Everscale (EVER) is a fast and secure layer-one blockchain that is claims to be capable of handling millions of transactions per second.

Everscale is based on the Telegram Open Network (TON) architecture. Amid the growing popularity of cryptocurrencies in late 2017, several traditional tech companies began exploring the space. The popular instant messaging service, Telegram, was one of them. It began developing the Telegram Open Network in 2018.

Ultimately, TON’s plan to launch in the fall of 2019 was cut short by regulators after the US Securities and Exchange Commission filed a lawsuit. In the spring of 2020, Pavel announced the closure of the project. However, in May 2020, several companies and teams used TON’s off-the-shelf protocol to launch the main Free TON network. Among the founders are Simplex, Everstake, Forklog creator Anatoly Kaplan, Kuna exchange, and others. In November, the community decided to rebrand the project to “Everscale.”

Everscale touts itself as “the most scalable blockchain network.” The scalable smart contract-based platform offers unique features such as sharding, dynamic multithreading, and low gas costs.

Everscale is a blockchain network that aims to power a range of applications that require fast, secure and scalable transactions. The network uses a proof-of-stake (PoS) consensus mechanism that rewards participants for securing the network and reduces energy consumption. Everscale claims to be a fifth-generation blockchain network that incorporates the latest innovations and concepts in the field. It can support various types of blockchains and applications, such as gaming, finance, micro-payments and online advertising. The project’s vision is to become a decentralized platform for high-performance applications with real-world relevance, and to foster an ecosystem of decentralized applications (dApps) such as exchanges, wallets, bridges and gaming platforms.