As cryptocurrencies continue to gain more traction towards mass adoption, it is important to revisit the inspiration for the genesis of blockchain technology. Cryptocurrencies use the pledge of a decentralized finance (DeFi) future and an option to financial designs that continue to restrict the method residents manage their cash. 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 might be stated that Ergo integrates a few of the very best elements of Bitcoin (BTC) and Ethereum (ETH). Ergo is a blockchain protocol built on the UTXO model but it also allows for smart contract functionality. Ergo is able to accomplish this through its native language, ErgoScript, and its application of unique Σ-protocols (a kind of zero-knowledge evidence). Ergo also employs the use of Non-Interactive Proofs of Proof Work (NIPoPow) in order to create applications that enable light clients and side chains. It is designed as a platform for financial transactions with the ability to develop stateless clients and side chains.
In addition, Ergo has a very knowledgeable group of designers and scientists. The two Co-founders, Alexander Chepurnoy and 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 Listing
Ergo’s native token ERG has actually been climbing up because the start of this year, increasing over 2000%.Currently, ERG holds 130th position on CoinMarketCap. ERG’s price is trading at $15.95 with a 24-hour trading volume of $5,955,804, at the time of press.
ERG is noted on the top crypto exchanges such as Kucoin, Bitcoin.com, Changelly and Changelly Pro. In addition to these listings, ERG is also available on Biki, Waves DEX. Hotbit, Gate.io, TradeOgre, TIDEX, Probit, swop.fi, Coinex, Vite, and Consbit.
ERGOHACK II
In June, Ergo arranged a hackathon where designer groups might propose brand-new tools and dApps for the Ergo Ecosystem. For example, a non-custodial, pseudo-ETF platform for users to pool their assets in an investment portfolio on top of the Ergo blockchain was proposed. This occasion was a huge success with a lot of the jobs being established for application on Ergo.
Because of this success, the Ergo team is announcing another hackathon, ERGOHACK II. This occasion is arranged for October 8-10, 2021 and will concentrate on the concept of social improvement. The deadline for ERGOHACK II registration is September 15, 2021, and interested participants can apply here.
ERGOHACK II invites groups of 2-5 individuals each to establish jobs for mass adoption of blockchain innovation as it relates to social improvement. The proposed projects will get a chance to be implemented in the Ergo ecosystem and all projects will be up for consideration for several prizes. The cash prize deserves 9K SigUSD with the opportunity that somebody will be provided a task interview to sign up with Ergo.
Bottom Line
The Ergo ecosystem had a fair launch from the very beginning of its inception. It did not hold any ICO and there were no premined coins for the creators. The priority has and continues to be a decentralized and fair platform for financial transactions.
