Because cryptocurrencies continue to gain a lot more traction towards mass adopting, it is important to revisit the inspiration for the genesis of blockchain technology. Cryptocurrencies offer the guarantee of a decentralized finance (DeFi) future and an alternative in order to economic models that always limit the way citizens manage their money. Ergo’s platform was born out of a desire to create the tools necessary to empower the average citizen and decrease the centralized power of money.
Ergo — What is it?
It could be said that Ergo combines a few of the best aspects of Bitcoin (BTC) and Ethereum (ETH). Ergo is a blockchain protocol built on the UTXO design but it also allows for smart contract functionality. Ergo is able to accomplish this through its native language, ErgoScript, and its application of new Σ-protocols (a type of zero-knowledge proofs). Ergo also utilizes the use of Non-Interactive Proofs associated with Proof Work (NIPoPow) to be able to create applications that allow light clients and side chains. It is designed as a platform for financial dealings with the ability to develop stateless customers and side chains.
In addition , Ergo posseses an extremely experienced team of developers and researchers. Both Co-founders, Alexander Chepurnoy plus Dmitry Meshkov bring significant digital asset knowledge and have been involved in many major projects, including IOHK, the driving force behind Cardano (ADA).
Ergo Current Market Status and Exchange List
Ergo’s native expression ERG has been climbing since the beginning of this year, rising over 2000%. Currently, ERG holds 130th position on CoinMarketCap. ERG’s price will be trading at $15. 95 with a 24-hour trading volume of $5, 955, 804, at the time of press.
ERG Price Chart (Source: CoinMarketCap)
ERG is listed on the top crypto exchanges such as Kucoin, Bitcoin. com, Changelly and Changelly Pro. In addition to these listings, ERG is also on Biki, Waves DEX. Hotbit, Gate. io, TradeOgre, TIDEX, Probit, swop. fi, Coinex, Vite, and Consbit.
Within June, Ergo organized the hackathon where developer teams could propose new tools and dApps for the Indem Ecosystem. For example , a non-custodial, pseudo-ETF platform for customers to pool their possessions in an investment portfolio along with the Ergo blockchain was proposed. This event was a huge success with many of the tasks being developed for implementation on Ergo.
Because of this success, the Indem team is announcing an additional hackathon, ERGOHACK II. This event is scheduled for Oct 8-10, 2021 and will concentrate on the idea of social transformation. The particular deadline for ERGOHACK II registration is September 15, 2021, and interested individuals can apply here.
ERGOHACK II invites teams of 2-5 individuals each to develop projects with regard to mass adoption of blockchain technology as it relates to interpersonal transformation. The proposed tasks will get a chance to be implemented in the Ergo ecosystem and all projects will be up for account for several prizes. The reward money is worth 9K SigUSD with the chance that somebody will be offered a job interview to join Ergo.
The particular Ergo ecosystem had a fair launch from the very beginning of its inception. It did not keep any ICO and there were no premined coins for that founders. The priority provides and continues to be a decentralized and fair platform meant for financial transactions.