Everscale Community Weekly Digest 🚀

🛑Venom Foundation launched the Venom blockchain testnet. How to join

🛑The Everscale network was restored after a major failure. But the attacks on the network continued

🛑Broxus presented Gravix, a decentralized exchange for trading on-chain and off-chain assets. User guide

🛑The Octus Bridge has been updated and switched to MultiVaults

🛑PileBlocks game was shortlisted for Venom Venture Investment Program

🛑A new DeepTech article about similarity in the evolution of blockchain and CPU technologies

🛑Venom Foundation to hold an online hackathon with a prize fund of $225,000 in early may

🛑The Ever Surf Team has announced the release of Surf Keeper, a browser extension

🛑Our channel has released 4 TVM networks short overview: TON, Everscale, GOSH & Venom

#digest #post

Gravix DEX functionality 🔥

At the end of April, the Broxus team launched Gravix, an Everscale-based decentralized perpetual exchange where a wide range of on-chain and off-chain assets are available to the user for trading directly from their crypto-wallet: cryptocurrency, fiat, commodities and stocks.

Currently, the total trading volume on the exchange is $191 318.

What does Gravix offer now ❔

• Trading. Trading pairs: BTC/USD, ETH/USD, BNB/USD, EUR/USD, GBP/USD, KRW/USD, XAU/USD, XAG/USD, WTI/USD, HKD/USD
• Staking (up to 2.46% APR). Stake USDT and get stgUSDT in return, which is constantly increasing due to the fees charged on Gravix
• Referral program. Create an account on Gravix, get a referral link, invite friends to Gravix and earn interest on all fees received from them. The award is given in USDT

We wrote more about the exchange advantages here 🔗

#gravix #broxus #post

Everscale digest for April 2023 📹

Everscale network had a lot of interesting events in April. Everscale's YouTube channel published a video compiling the highlights of the month, as follows:

🛑Everpoint — Everscale's third anniversary event, will take place at the famous Burj Al-Arab Hotel in Dubai from May 6-7. Broxie NFTs will be used as tickets to the event and will also give access to the pre-party, conference and gala dinner

🛑The Broxus team introduced Gravix, a decentralized trading platform where users can trade a wide range of assets, open positions with up to 200x leverage, earn commissions and stake USDT

🛑Broxus founder Sergey Shashev gave an interview to Korean publication Blockchain Today, where he talked about Everscale network and Broxus products, and revealed important details about the network's goals, its advantages over other blockchains and involvement in CBDS's

🛑The Broxus team introduced a new website for stEVER tracking with the ability to stake EVER

🛑The Everscale team introduced a new LockLift plugin for easy launch and testing of smart contracts, which will simplify the deployment of migrating smart contracts and development in general

🛑The Everscale team has launched a new «Everscale Deep Tech» section on its social media pages, where articles with technical analysis of various topics will be posted every Wednesday. At the moment there are already two articles

🛑Robonomics and DAO IPCI teams moved their Solidity smart contracts from Ethereum to Everscale to improve security and reduce fees. Vadim Manayenko, head of development at Robonomics, noted the benefits of Everscale and shared feedback on the network

🛑The ITGOLD and Everscale team working together on proposal #92 on the EverDAO platform led to EverConnect, an open source solution similar to WalletConnect that solves the problem of having several different wallets for different tasks

🔗 Link: https://youtu.be/RvlTFYVwBe0

#youtube #news #digest #post

Everscale Outage Report 🔐

Last week, the Everscale network was subjected to a series of external attacks, which led to its downtime for about 3 days, after which the network has successfully processed all user transactions that were initiated during the downtime. No user funds have been impacted.

What happened

On April 25th at 9am CET, in the main Everscale network, due to the extremely high growth of the internal message queue, the network lost the ability to correctly match blocks and eventually became overloaded. Technically speaking, the blockchain was not halted. Only the main workchain experienced downtime, while the masterchain operated normally.

Causes of the incident

A vulnerability in the main network, which allows devs to write code that leads to the execution of a large amount of code, while paying a very small fixed price for it, was exploited.

The solution

To remedy the situation, the core developers and validators team made some optimizations to the validator node and froze the execution of the exploiting smart contract — there is only a temporary solution. In the long term, Everscale is working on a global resolution for the exploited vulnerability.

🔗 For more information about the incident, root causes and measures, read the Everscale Outage Report with a useful glossary and graphs.

#exploit #post

External and internal messages 🔍

In the scope of TVM asynchronous architecture, all interaction of contracts with each other is carried out via message sending.

How it works in Everscale

A contract receives an external message from the outside world. If the contract agrees to pay for it, a transaction is launched. As a result of it, the contract may create up to 255 of outcoming internal messages. This outcoming internal message has the address of the destination contract, the function to call in it, and what arguments to pass.

The destination contract receives an incoming internal message and launches a transaction, the result of which is again the creation of outcoming internal messages. if a contract does not agree to supply the gas to pay for the transaction, then the message will simply be discarded, and the transaction will not start.

All internal messages have to carry some amount of coins with them.

Parameters of internal message creation

When you create any internal message by calling the method of other contract or just send him money, you need to set up three parameters:

address.transfer (uint128 value, bool bounce, uint16 flag)

value — the amount of EVER you want to attach to the message.

bounce — Boolean flag that indicates whether we need to try to create a return message should an error occurs during the processing of the message or there is no contract deployed on the destination address. True — send all remaining value back with a note that an error occurred. False — all EVERs will just remain in the destination contract.

flag — special flag for a finer work with the amount of value to add to the outcoming message. It allows to attach to the message exactly the amount of EVERs that remained in the incoming message minus all the spent gas. You can send with the outcoming message all the EVERs left on the contract balance minus those sent in the previous messages.

🔗 Find out more about Everscale architecture in the Everscale Crash Course

#education #post

New article in Everscale Deep Tech 🗂

The fourth article describes the blockchain trilemma, compares Everscale and other blockchains through the lens of decentralization, security, and scalability, and describes the unique solutions Everscale uses to improve network security.

➕ The blockchain trilemma states that DLT (Distributed Ledger Technology) can provide only two of the three benefits — decentralization, security and scalability

➕ The goal of modern blockchains is to create a secure network with high transactional throughput, but this contradicts the trilemma, since scalability is inversely proportional to decentralization, given identical security parameters

➕ A blockchain that satisfies the trilemma strikes a balance between speed, security, and scalability. However, most blockchains cannot optimize all three characteristics simultaneously, which requires compromises

➕ Ethereum is an example of this, where decentralization and security prevail over scalability. However, Ethereum is working to solve the scalability problem using rollups and combinations of sharding mechanisms

➕ Everscale uses a consensus mechanism based on Byzantine Fault Tolerance Technology (BFT) with two confirmation sessions: main and per shard. The mechanism has a vulnerability that can be exploited by attackers to send a malicious block into the masterchain

➕ To improve Everscale security while maintaining high speed and sufficient decentralization, the SMFT (Soft Majority Fault Tolerance) consensus protocol, which is under development, is used

➕ SMFT involves random rechecking of candidate blocks by any of the validators of the workchain (the verifier) using a deterministic multisignature BLS. A block is considered delivered if the number of validators who confirmed receipt of the block exceeds 50%.

🔗 Follow the link (10 minute read)

#deeptech #post

Venom Whitepaper: Chapter 1 Review 🐍

"By launching the Venom blockchain, we aim to create a safe place for everyone to build their blockchain-based solutions and conduct transactions securely and efficciently" — Venom Whitepaper, Chapter 1.

🪟 Scalability

This is especially important for public blockchains such as the Venom blockchain, which must simultaneously process transactions from many actors. The Venom blockchain has an impressive ability for vertical scalability through its use of the Dynamic Sharing Protocol and parallel execution of transactions between groups of validators. Furthermore, workchains enable the creation of separate blockchains for various Apps.

🛡 Security

Security in the Venom blockchain is ensured through the use of a PoS consensus based on the Byzantine consensus algorithm. Smart contracts, being self-executing and autonomous, require thorough auditing to ensure accuracy and security. Venom blockchain cooperates with leading audit companies and provides the opportunity to research and train engineers to audit a smart contract code.

🗒 Regulation

Venom Foundation is committed to the widespread adoption of blockchain technology, providing a secure environment for various users, including retail customers, institutions and sovereign nations. The ultimate objective is to transform the blockchain into a decentralized public platform accessible to everyone.

📍 Adoption

The Venom blackchain is able to involve a mass consumer in the market by offering core services, including payment systems, CBDCs, stablecoins, and registry solutions using the strengths of regulation and decentralization at the same time.

🚪 Interoperability

To solve the interoperability issue, the Venom blockchain uses a cross-chain communication protocol. This allows for the exchange of data, assets, and value between workchains in the ecosystem without third-party bridges.

🍔 Go to the Venom Whitepaper

#venom #whitepaper #post

Octus Bridge: transfer tokens to other networks 💱

Imagine that you need to transfer tokens from one network to another: for example, USDT from Everscale to BNB. You can't just click «Send» in your wallet. That's what bridges are needed for.

Octus Bridge is a decentralized crosschain «bridge» developed by Broxus. It allows you to transfer tokens from Everscale to Avalanche, BNB Chain, Ethereum, Everscale, Fantom Opera, Polygon, Solana and backwards.

Its benefits are:
• high decentralization
• management via DAO
• transaction speed (~10 min)
• native BRIDGE token availability
• minimal commissions (more details)

Users can view links to the smart contracts used in the exchange.

🗳 In proportion to their shares, BRIDGE owners can vote for determining decisions in the development of the project. It can also be sent to staking. The token is available on FlatQube in the WEVER/BRIDGE pair.

❔ Check out our website for instructions on how to use the asset exchange bridge.

#bridge #post

Everscale yields 📊

Farming
• QUBE/WEVER 31.07% — 93.21% APR
• WBTC/BRIDGE 8.41% — 25.24% APR
• USDT/USDC 17.2% — 51.61% APR
• QUBE/BRIDGE 30.76% — 92.28% APR

Staking
• Up tо 13.71% APY

Boosted Staking
• Up to 26% APR
• Remaining capacity: 21,627,373 EVER

GOSH Staking
• 8% — 24% APR
• Remaining capacity: 5,847,063 EVER

🔗 Everscale farming guide
🔗 Everscale staking guide

#farming #yield #staking #post

AMA session with DeFi Alliance & EverX Review 📁

Alexander Alekseev about the attack on the network

A smart contract, which exploited the size of the internal message queue was deployed in the mainnet. Having reached the mark of ~160,000 transactions in the queue, the node began to work unstable. A temporary solution to limit the exploiting smart contract and the ability of blocks to split has been implemented. Further decisions on optimizing the node are under discussion and adoption.

The largest EVER investors

1) A major "strategist" from China
2) Venom Foundation
3) Broxus
4) Korean community
5-6) EverX and Warp Capital

According to S.Shashev, this group of investors holds ~40-50% of all coins. And only 4 from 23 initial validators continue to actively participate in the network’s development: EverX, Broxus, Everstake, Minergate.

About Everscale ecosystem projects

Gravix is a b2b product. There will be probably several similar products under different names. EVER is missing on Gravix because the goal is to attract external users. There is no oracle for EVER right now. Probably it will appear later

DeVote is highly dependent on funding. It is positioned more not as a DAO, but as a company providing services. Focused on finding real customers with large orders. They are primarily developing the US market so far

Pavel Prigolovko on the network's future

🛑The next “wave” is likely to be associated with the development of Digital Twin. As part of this use case, we must take a significant market share due to our technological capabilities
🛑Cooperation of TVM networks can be a point for joint strengthening — marketing positioning and also for developers that this is not a niche, but already a widespread technology with branches

Sergey Shashev on "docking" with Venom

🛑We have very large niches inside the ecosystem that everyone will see when the Venom mainnet is launched. In fact, we are joining a new big business
🛑BRIDGE 2.0 with BTC will be implemented just before or after the launch of the Venom mainnet
🛑FlatQube has sunk heavily in TVL. This whole ecosystem will be reanimated only in connection with Venom
🛑The key task now is to move on with Venom. To become big, we need to make a joint system
🛑Possible new conjuncture: interest in EVER after the launch of the Venom mainnet
🛑Everscale and Venom are well coordinated through Broxus
🛑When Venom is launched, the Everscale network will receive many benefits

#ama #review #post

🚀 EVERPOINT 2023 LIVE 🐍 🗣

The EVERPOINT conference pre-party is taking place in Dubai right now.

Broxus co-founder Sergey Shashev welcomed the guests of the 3rd Everscale anniversary:

"We are no longer only one TVM network. Because now we have a big brother — Venom. For two days, Venom achieved more accounts than Everscale for 3 years. Now we have a very strong partner and we are ready to reach our ambitions. Together we can achieve everything we want."

The main event starts tomorrow. We'll keep you informed!

#everpoint #anniversary #post