User:Everscalenetwork/Everscale

Everscale is an asynchronous blockchain working on a Proof-of-Stake consensus protocol, launched in 2020 by a group of enthusiasts led by EverX and Broxus using the publicly available Telegram Open Network (TON) source code.

The Everscale project was formerly called Free TON, rebranded in 2021.

The key feature of Everscale is its ability to dynamically divide into threads depending on the load, each of which forms its own block chains. In this way, parallel execution of operations is ensured, which allows achieving a total execution speed of more than 1,000,000 transactions per second with low transaction costs and 4-second finalization.

Everscale is built entirely on a system of smart-contracts, that are executed in an open-source virtual machine - TVM (Threaded Virtual Machine). A change in the state of the blockchain can only occur through the execution of a smart contract. Smart contracts communicate with each other and users through messages that are organized into a single queue.

EVER
The Everscale native token has the ticker symbol EVER. All network fees are paid in EVER. The maximum issuance of EVER is about 2 billion coins. The initial token issue was 5 billion EVER, but after a community decision, 3 billion EVER were burned by sending the tokens to a black hole account from which withdrawals are impossible.