Evernode (EVR) is a global, permissionless Layer 2 network designed to host hyper-scalable decentralized applications (dApps). The project aims to provide a robust, censorship-resistant environment for smart contracts. While “EVR” often refers to Evernode, it also designates Evrmore, a distinct UTXO-based blockchain, creating a critical distinction for investors and developers.
What is Evernode (EVR)?
Evernode (EVR) functions as a Layer 2 smart contract platform, extending the capabilities of a primary blockchain. This network provides a decentralized hosting solution for dApps, ensuring high availability and resistance to censorship. Its core function involves enabling complex smart contract execution without burdening the underlying Layer 1, thereby enhancing scalability and transaction efficiency.
Evernode specifically focuses on offering “hyper-flexible” dApp hosting. This refers to the network’s capacity to support diverse application types, from financial protocols to social platforms, with adaptable resource allocation. The Layer 2 architecture processes transactions and smart contract logic off-chain, then settles these operations on the main chain, reducing costs and increasing throughput.
This specialized environment addresses common blockchain challenges, such as slow transaction speeds and high gas fees. For instance, a dApp requiring frequent micro-transactions benefits from Evernode’s architecture, processing thousands of operations without impacting the core network. It provides developers with a robust infrastructure for deploying and maintaining applications at scale.
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Evernode (EVR) vs. Evrmore (EVR): Understanding the Difference
The “EVR” ticker represents two entirely separate blockchain projects: Evernode and Evrmore. Understanding this distinction prevents confusion for investors and users seeking specific functionalities. While both operate within the broader cryptocurrency ecosystem, their underlying technology, purpose, and design principles differ significantly.
Evernode: Layer 2 dApp Hosting
Evernode is a decentralized Layer 2 network explicitly built for hosting smart contracts and dApps. It operates as an auxiliary layer, enhancing the scalability and performance of a foundational blockchain. The network provides a permissionless environment where developers deploy applications with increased throughput and reduced operational costs. Evernode enables functionality like “Volity,” a platform for electronic promissory notes, connecting EVR to specific crowdfunding utility. Its open architecture also supports potential integrations with other innovative tokens, such as the FET token, to enhance its capabilities.
Evrmore: Enhanced UTXO DeFi Model
Evrmore, in contrast, is an independent blockchain that emerged as a fork of Ravencoin. It utilizes an enhanced Unspent Transaction Output (UTXO) model, similar to Bitcoin, designed to support decentralized finance (DeFi) assets. Evrmore focuses on asset creation, transfer, and management, providing a framework for tokenized securities and other digital assets. This ongoing evolution within decentralized finance is also paving the way for advanced applications, such as those involving AI in DeFi. Its consensus model differs from Evernode’s Layer 2 approach, prioritizing secure, peer-to-peer asset transfers directly on its own chain.
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Create Your Account in Under 3 MinutesCore Architecture of the Evernode Network
The core architecture of Evernode utilizes a decentralized Layer 2 structure to process transactions off the main chain. This design optimizes for scalability and efficiency, allowing dApps to operate with minimal latency and reduced fees. Evernode achieves this through a network of node operators that validate and execute smart contracts, periodically committing aggregated results back to the Layer 1.
Decentralized Layer 2 Mechanics
Evernode’s decentralized Layer 2 mechanics involve a network of independent node hosts. These hosts run Evernode software, providing computational resources and storage for dApps. When a dApp’s smart contract executes, the Evernode hosts process the transactions, reducing the load on the main Layer 1 blockchain. This distributed model enhances network resilience and prevents single points of failure. Evernode is actively exploring and forming strategic alliances, including partnerships with initiatives like the AMID project, to expand its ecosystem and capabilities. The aggregation of transactions before final settlement significantly increases the overall transaction capacity of the ecosystem.
Hyper-Scalable dApp Performance
Evernode delivers hyper-scalable dApp performance by separating computational burden from the underlying Layer 1. This architecture provides dApps with dedicated resources, ensuring consistent performance even during peak network activity. A key benefit is the reduction in execution costs, which allows for more complex and resource-intensive applications to run affordably. This scalability directly translates into improved user experience, with faster transaction confirmations and smoother application interactions. For example, a gaming dApp can execute hundreds of in-game actions per second on Evernode, a feat often impossible on congested Layer 1 networks.
EVR Tokenomics and Market Data
The EVR token functions as the native cryptocurrency of the Evernode network, playing a crucial role in its economic model and operational mechanics. Understanding its supply dynamics and market performance is essential for participants. The token facilitates various network operations, including payments for dApp hosting services and rewards for node operators.
Total Supply and Circulation Statistics
Evernode has a precisely capped total supply of 72,253,440 EVR tokens. This fixed supply implies a deflationary or scarcity-driven economic model, contrasting with inflationary tokens that continually introduce new units. As of early data, the circulating supply may show “0 in circulation” if the token has not officially launched or fully entered the market, indicating a pre-distribution phase. This initial status means that while the maximum supply is defined, tokens are not yet actively trading or distributed to the public. For instance, during the launch phase, tokens are often locked in smart contracts or held by the development team, gradually becoming available according to a pre-set schedule.
Historical Price Performance and Volatility
The price of EVR crypto, as of recent snapshots, hovers around $0.1774. This value reflects initial market sentiment and early trading dynamics. Cryptocurrencies, particularly those in their nascent stages, exhibit significant price volatility, influenced by factors such as development milestones, community engagement, and broader market trends. For instance, positive news regarding dApp adoption or network upgrades often triggers upward price movements, while delays or security concerns lead to declines. Monitoring daily trading volumes also provides insight into market liquidity and investor interest. An EVR daily trading volume of $150,000 to $250,000 indicates a relatively active, though still developing, market.
How to Buy and Store EVR Crypto
Acquiring and securely storing EVR crypto involves specific steps, primarily through centralized cryptocurrency exchanges and compatible digital wallets. The process typically requires creating an account, undergoing identity verification, and then executing a trade. Proper storage ensures the safety of your assets against potential theft or loss.
Exchange Availability (MEXC, Bitget)
EVR tokens are available on select centralized cryptocurrency exchanges. Major exchanges, such as MEXC and Bitget, facilitate EVR trading, providing liquidity and a platform for users to buy and sell the token. To purchase EVR, users first deposit fiat currency (e.g., USD, EUR) or another cryptocurrency (e.g., USDT, BTC) into their exchange account. They then navigate to the EVR trading pair and place a buy order. These platforms offer various order types, including market orders for immediate execution and limit orders for specific price targets.
Once purchased, users can leave EVR on the exchange or, for enhanced security, transfer it to a personal crypto wallet. Compatible wallets support the blockchain on which Evernode operates, offering a secure environment for private keys. Hardware wallets, for example, provide the highest level of security by storing keys offline.
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Open a Free Demo AccountBottom Line
EVR crypto offers a unique approach to crowdfunding. The platform addresses common challenges that investors and businesses face. You get security, flexibility, and a decentralized system all in one. The EVR token plays an important role in the ecosystem. Its fixed supply could drive demand over time, which makes it an attractive investment. As more businesses use the platform, the value of EVR may rise. Are you ready to invest? EVR has the potential to disrupt traditional crowdfunding models. Watch how it grows. You should stay informed about the project’s updates and opportunities.
If you want to take advantage of early investment opportunities, EVR could be the next big thing. You keep an eye on this project. The future looks promising.
Key Takeaways
- Evernode provides a Layer 2 solution for dApp scalability and efficient hosting.
- The EVR token has a strict total supply of 72,253,440 units.
- Distinguish Evernode (L2 dApps) from Evrmore (UTXO DeFi blockchain).
- Node hosts are crucial for Evernode’s decentralized operation and transaction processing.
- Market price and circulation status indicate the token’s early development phase.
Frequently Asked Questions about EVR
EVR Crypto primarily refers to Evernode, a global, permissionless Layer 2 network designed to host hyper-scalable decentralized applications and provide a robust environment for smart contracts. It aims to extend the capabilities of a primary blockchain, enhancing scalability and transaction efficiency.
Evernode's main purpose is to function as a Layer 2 smart contract platform, offering a decentralized and censorship-resistant hosting solution for dApps. It enables complex smart contract execution without burdening the underlying Layer 1 blockchain, thereby improving scalability.
Evernode enhances scalability by operating as a Layer 2 network, which means it handles complex smart contract executions and dApp hosting separately from the main blockchain (Layer 1). This offloads processing, allowing for higher transaction throughput and efficiency on the primary chain.
While EVR commonly refers to Evernode, it is also the designation for Evrmore, which is a completely distinct UTXO-based blockchain. This distinction is critical for investors and developers to understand to avoid confusion regarding project identities and technological foundations.
Evernode provides a decentralized and censorship-resistant hosting environment for dApps, ensuring high availability. It focuses on hyper-flexible dApp hosting, meaning it can support a wide array of application types, from financial protocols to social platforms.
Smart contracts are central to Evernode, as it is designed as a Layer 2 smart contract platform. It enables the execution of complex smart contracts, which are essential for the secure and transparent operations of decentralized applications and for extending the capabilities of the primary blockchain.
