Everscale’s CBDC, DeFi and Private Communications Solutions in a Nutshell


Get fully equipped to develop powerful dapps on Everscale

Everscale’s ecosystem is already thriving with projects from a variety of sectors. They leverage the blockchain’s robust solutions and great network performance to build products with the best user experience. If you want to know how to take advantage of these tools, read on.

Table of content

We are happy you’ve already reached the third article of our series of four. During the course of it, you will start exploring the immense possibilities offered by the Everscale blockchain. Like many smart contract-enabled platforms, Everscale already has a well-developed and fast-growing ecosystem of dapps, many of which fully fit into the DeFi and High-Utility niches. The TOP 3 services that successfully operate and show the greatest potential are the following: 

To begin with, we will briefly remind you what decentralized applications (dapps) are. 

As the name suggests, dapps are free from the clutches of a central authority. They work through a decentralized blockchain managed by the participants of the network themselves. This effectively reduces intermediaries and regulators, making the system peer-to-peer. 

The main purpose of dapps is to promote inclusion and provide easier and cheaper access to a wide range of services.  

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Quick reminder explaining why projects with different utility values build on Everscale

Among many unique characteristics, there are two architectural elements that set Everscale apart.  

First, storage fees  

On Everscale, each smart contract pays for its storage on the network (see our second article for more details). Thus, it makes no sense to limit the speed of recordings on the network. 

The smart contract pays for its storage for as long as it is needed. When the funds run out, the respective contact gets deleted. Therefore, Everscale can provide recordings on the network at a certain price, eliminating the need for users to compete with each other.

Second, infinite sharding  

Due to the fact that shards on Everscale are added dynamically, the blockchain can process a large number of transactions per second. However, they are not for free and sometimes are slower finished. 

That is, with the addition of a large number of shards, the time for executing transactions increases while the number of transactions per second is very large. This functionality is still in the process of being implemented. There is the need for normal interaction between workchains.

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As a result  

Combining both of these elements, we get a blockchain that can process a huge number of transactions per second for a constant price, albeit with a slowdown in load peaks – it concerns the processing time of one transaction, not the general throughput. 

Also, such an architecture permits the Everscale blockchain to remain operational for decades. At the same time, unlike using rollups, the blockchain will remain decentralized.  

Octus Bridge  

Octus Bridge is capable of transferring any information (any token) from one network to another. For example, you can transfer USDT tokens from the Ethereum network to the Everscale network and then trade these tokens on a DEX. 

The price will be the one set while creating the pool. Additionally, the commissions for interacting with smart contracts are minimal. Currently, the bridge supports two-way transmission for the following networks:  

  • Ethereum 
  • BNB chain 
  • Fantom Opera 
  • Polygon 
  • Everscale 
  • Avalanche 
  • Milkomedia 
  • Solana  

For the convenience of users, there is the Credit gas option when part of tokens are automatically converted to EVERs — and sent to the user’s EVER wallet. These EVERs are necessary for processing payments for gas on the Everscale network.  

FlatQube 

FlatQube is a decentralized digital asset exchange supplying users with a convenient and very fast ( 5 second transfer ) platform for exchanging their crypto and fiat currencies. The DEX also provides users with a plethora of options for earning a passive income through its farming and staking mechanisms. 

Currently, the most popular exchange pairs are those with EVER and QUBE coins, USDT and USDC stablecoins and the Philippine peso, Euro and Dollar fiat currencies. To ensure that the exchange rates are stable even when huge amounts are exchanged, a special mechanism called Stable Swap Pools was created. 

With the help of these pools, almost any amount of stablecoins can be swapped with the lowest slippage possible.

Qamon

With Qamon, each message is encrypted and stored in a distributed registry. This approach is based on encryption methods that ensure only you can access your messages. No one can interfere, alter or perform any other actions with messages.

Qamon offers much better privacy than traditional mailing services. Gmail, for example, provides some basic encryption features. However, they are not able to protect users even from Google itself. On the contrary, with blockchain-based mail services, data is encrypted at a much more fundamental level.

To add, Qamon provides permanent storage of messages thanks to the Everscale blockchain, where they are kept. Obviously, you wouldn’t delete important e-mails yourself. Permanent storage basically ensures that Qamon mail service will not be able to delete your messages ― accidentally or intentionally.

What is next? 

At the moment, Everscale pays particular attention to B2B solutions. The aim is to provide both the private and public sector companies and institutions with services that would increase their efficiency. Namely, these are CBDCs as well as workchains, which have a wide range of real-life applications. 

In the next article, you will get to know them in detail. In case you want to join Everscale in building first-class decentralized solutions, please join the official Telegram onboarding chat

Learn more about Everscale

Disclaimer — This is a sponsored article. DappRadar does not endorse any content or product on this page. DappRadar aims to provide accurate information, but readers should always do their own research before taking action. Articles by DappRadar can not be considered as investment advice.


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