On its own, a blockchain is a type of technology. But, like all great technology, when put into application, it is an enabler, helping people to drive business and economic results through real-world use cases. To drive these results, an ecosystem that allows for the creation and development of apps, services and decentralized finance (DeFi) platforms must exist. For example, consider Ethereum (ETH), an ecosystem that creates a basis for thousands of DApps, and a place for millions of users to interact.
While Ethereum has introduced the world to some of the initial use cases of blockchain, resulting applications could only go so far before being met with architectural issues such as slow transaction times and high gas fees. Recognizing that technology applications are only as strong as their back end, many have wondered what possibilities can exist when scalability isn't a limiting factor.
Everscale's architecture demonstrates this possibility by eliminating performance bottlenecks and allowing transaction throughput to scale proportionately to network bandwidth. Effectively Everscale provides the answer to the industry trilemma, determining a balance of decentralization, security and scalability.
Starting where the TON project left off, several developers previously working on products on the network came together to launch it on their own to ensure Everscale's technology did not go to waste. As work continued to progress, switches were made to rust nodes, and other speed and scaling capabilities were deployed. Consequently, the network became much different than the original plans set out, leading to the need for a rebrand.
News of the global rebranding to Everscale network has since become the motivation for the Broxus team, a developer for DeFi products on what they believe to be the most technologically advanced blockchain, to start retooling all of the existing products on the network. From the beginning, their intent was to refine their operability to ensure that they were providing users with the opportunity to take advantage of all that the Everscale network offers.
An ecosystem without scalability constraints
Broxus' flagship platform was known as the Bridge. Originally known as the TON Bridge, the newly rebranded Octus Bridge enables users to transact between blockchain networks with bi-directional transactions. Now, with the infinite scaling capabilities unlocked by Octus, users can bypass previously expensive costs and handle a user load of millions of transactions.
Also on the Everscale network is the platform's native decentralized exchange (DEX), FlatQube. Acting as the home base for DeFi activities, the project once known as TON Swap has been reengineered with improved offerings, further setting the stage for Broxus' future developments. The name FlatQube then becomes symbolic of the DEX's role as a lynchpin of the Everscale DeFi ecosystem.
Looking at this comparison more specifically, each of the cube's sides represents the different connected networks, coming together with the liquidity pool as the central power source for the rest of the platform. With this foundation, FlatQube enables users to exchange assets and participate in earning opportunities, including farming pools, staking options and vesting mechanisms, all offering competitive annual percentage yield (APY) rates. As a result, FlatQube now has a user base that faces periods of continuous growth.
Providing further support for user transactions is the native wallet of the Everscale network. Operating under the new name, EVER wallet, users can access its features through mobile devices or the Chrome browser plugin. Additionally, the new version of the wallet will support all the assets in the Everscale network, making it the most convenient method for users to navigate the rest of the Everscale ecosystem.
Joining the rest of the ecosystem is Broxus' new version of the token wrapping platform. The previous native currency, TON Crystal, required a transition to WTON to ensure users could participate in cross-chain and farming capabilities. As the platform transitions to the new native currency, EVER, Broxus has come back with the launch of a new platform to wrap EVER into wEVER.
Unveiling new platforms
With the unveiling of the new platforms listed above, the Broxus team has proven that they are on their way to achieving the other goals defined in their roadmap.
Over the next year, Broxus has reiterated its concentration on increasing exposure for the Everscale networks and the surrounding ecosystem. These efforts, when taken together, are said to lead Everscale and Broxus in the direction of setting an entirely new look for the ecosystem.
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