• As Locked-in Liquidity of Poly-Network, Layer-2 Bridge Exceeds $32 Million, the FreeTon Project Rebrands to Everscale

  • The FreeTon Project’s new brand name is Everscale, which is a high throughput, scalable, and secure open-source blockchain based on Telegram’s TON concept.

    Everscale is rebranding from FreeTON.

    Following the successful vote on November 9, an announcement was made that FreeTON would be rebranding to Everscale, declaring the name change to mirror the development milestones of the previous few months.

    During this time, the network has undergone changes and enhancements that have taken it far beyond the original parameters of the Telegram TON blockchain.

    Furthermore, the name change was deemed necessary due to the proliferation of “TON” projects in DeFi and crypto, which has caused confusion as to which project is which. To add to the confusion, while the majority of these projects are legitimate, there are a few that are dubious.

    As a result, the rebranding serves to distinguish Everscale while also reassuring its community that the project is larger and more ambitious than its competitors.

    According to the team, the Everscale brand name is derived from the platform’s infinite scalability.

    According to the Broxus developers, the rebranding coincides with fundamental changes, particularly in the underlying network nodes. Everscale now uses the more robust and stable Rust nodes, abandoning the original C++ nodes used by the TON project.

    Aside from this change, the technology will continue to operate in the same manner as before. The branding change was not a hard fork or any other major change that would have necessitated a code overhaul or a lengthy outage.

    Broxus founder Sergey Shashev commented on the move, saying:

    “The rebranding had been planned for 2-3 months. It’s happening because we’ve gone far beyond the original TON technology’s limitations. Furthermore, there are a lot of “TON” tokens around, and people are perplexed. We are more than just a token, and our ecosystem offerings are comparable to those of Near, Solana, and Polkadot. Despite the rebranding, our roadmap remains the same. The main difference is that the network has switched to Rust nodes.”

    The Bridge’s Reliability and Utility

    Aside from the rebranding, the Broxus multi-chain and second layer Bridge’s expanded capabilities are expected to make it a game changer.

    Interoperability is required as DeFi, NFTs, and other critical aspects of crypto grow in popularity. Users face severe limitations if they do not have this, given how fragmented the industry can be.

    The approach taken by Everscale and Broxus is unique and well-thought-out. Their solution is designed to provide maximum user convenience while also redefining industry scalability standards.

    As a result, the Bridge is multi-networked, allowing for seamless transfers between Everscale and Ethereum, the Binance Smart Chain (BSC), Polygon, and other well-known open-source, public ledgers.

    Users can easily switch between blockchains with this level of functionality. A DeFi user, for example, can transfer liquidity from Ethereum to the BSC without switching tabs or obtaining approvals.

    While cross-chain transfers are one option, The Broxus Bridge also allows for liquidity storage. As a result, a user can port liquidity from, say, BSC and securely store it in the bridge. At the moment, the bridge’s liquidity exceeds $32 million.

    The bridge offers several advantages to users, the most notable of which is a significant reduction in transaction fees. Despite being the industry’s main hub of DeFi activity, Ethereum fees are currently very high.

    Because users can move liquidity across networks quickly and cheaply, the bridge is a good option for users looking for flexibility and non-wallet-killing transaction fees.

    Concerning Everscale (FreeTON):

    Everscale is a novel blockchain design that combines a scalable decentralized world computer with a distributed operating system. Everscale is built on the Ever OS platform, which is capable of processing millions of transactions per second and features Turing-complete smart contracts and decentralized user interfaces.

    Everscale has some new and unique features, such as dynamic multithreading, soft majority consensus, and distributed programming, that allow it to be scalable, fast, and secure all at the same time. It is governed by a decentralized community founded on meritocratic principles and implemented through the Soft Majority Voting protocol.

    Everscale provides powerful developer tools such as Solidity and C++ compilers, SDK and API, client libraries ported to over 20 languages and platforms, and a variety of decentralized browsers and wallets that power many applications in the DeFi, NFT, tokenization, and governance domains.

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