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Everscale’s name change move re-affirms the flexibility and readiness of blockchain-based outfits to scale up their product offerings and to reflect this in their public brand image.
The FreeTON blockchain protocol has announced its name rebranding to Everscale, following months of consideration by the team behind the network. As revealed by the network, the name change becomes necessary, following the growth the platform has charted in building solutions that extends beyond the scope of the FreeTON protocol.
From FreeTON to Everscale
The startup said its rebranding will help it stay uniquely visible and distinguished from other projects that are riding on the coattails of the inaugural startup’s successes.
“The decision to rebrand the FreeTON project has been in the works for the past 2-3 months. It has become necessary because we have made a great deal of progress from where we started and we have built things that go way beyond the original TON framework,” the protocol stated in an official statement posted on Reddit, adding that “there are a lot of different ‘TON’ projects around (and some of them are less than trustworthy). The community has deemed it necessary to both acknowledge that our project is something greater than what it started out as, and to distinguish ourselves from the plethora of projects looking to ride the coattails of the original TON technology.”
Everscale is a flexible multi-blockchain platform called TON Blockchain, capable of processing millions of transactions per second, with Turing-complete smart contracts, upgradable formal blockchain specifications, multi-cryptocurrency value transfer, support for micropayment channels and off-chain payment networks. The blockchain is backed by the TON Crystal token, with the platform acknowledging that the protocol’s logistical changes will not be interrupted.
“As for the logistical questions that the rebranding presents, there is no need to worry about major changes. The biggest change will be the switch to Rust Nodes. Other than that, technology-wise, everything will remain as is and we will continue to follow the current roadmap,” the protocol stated.
Name Rebrand: Growing Trend in the Switch to the Metaverse
The name rebrand is gradually becoming a visible trend, particularly amongst companies with digital innovations. The rebrand of Google to Alphabet Inc (NASDAQ: GOOGL), and much recently the name change from Facebook Inc (NASDAQ: FB) to Meta Inc further validates this surging trend.
Despite the fact that mainstream big tech companies are pioneering this name rebrand, Everscale’s name change move re-affirms the flexibility and readiness of blockchain-based outfits to scale up their product offerings and to reflect this in their public brand image. The platform says the major thing designed to be different following its name change is that “the names of the products and assets will change to reflect the new brand identity.”