New article in Everscale Deep Tech ๐Ÿ—‚

New article in Everscale Deep Tech ๐Ÿ—‚

The sixth article talks about a rent mechanism for smart contracts that solves the problem of limited computing resources.

โž• Smart contracts consume resources, and Everscale solves the limitation problem by supporting only active contracts, providing efficient contract management and blockchain state storage

โž• Eternal storage is impractical because it causes blockchain state and transaction fees to grow. Ethereum offers deletion of inactive contracts, but this can break backward compatibility. Other blockchains delete contracts with low token balance

โž• In Everscale, smart contracts pay rent with EVER tokens. The fee depends on the amount of data. When the balance runs out, the contract is deleted, but can be restored. This approach gives control over lifespan, improves bandwidth, and eliminates competition for data storage. Developers can fund operations through tokens or fees from users

โž• Everscale storage fees are based on global bit and cell storage prices and the number of bits and cells in the contract. The fee is calculated for a certain period, e.g. one day. If there is not enough money in the contract to pay, it is frozen and the remaining fee becomes debt

โž• Overall, Everscale's rent mechanism and storage fee calculation is a rational solution for managing smart contracts and ensuring efficient use of resources on the blockchain

๐Ÿ”— Read the full article (7 minutes read)

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