Ergo represents the next step in the evolution of proof-of-work blockchain technology. It combines Bitcoin’s ledger model (UTXO) with smart contract functionality. Ergo’s extended UTXO design is built to offer secure and robust tooling through the use of its native language, ErgoScript, and its inherent Sigma protocols that utilize non-interactive zero-knowledge proofs.
Ergo’s Autolykos v2 mining consensus algorithm is GPU friendly and ASIC resistant, allowing for anyone with consumer-grade GPU hardware to easily and effectively participate in securing the network.
The Ergo blockchain launched in 2019 with no pre-mining or pre-allocation of any coins. The platform strives to be fair and accessible to all with an emphasis on building truly decentralized financial products and services. The ecosystem currently features the SigUSD stablecoin, ErgoMixer, a cross-chain DEX, and much more.
Ergo has a framework that lends itself to scaling, adapting and innovation. Many features are unique in the blockchain space.
Ergo is scalable. It is compatible with established methods of scaling, including Sharding, Hydra, BitcoinNG-style macroblocks, the Lightening Network, Rainbow Network, and others.
Ergo is adaptable. Many of the parameters of Ergo can be changed with a consensus of greater than 90% by miners.
Ergo is innovative. It had the first formally verified smart contracts. It uses NiPoPows, which allow for security guarantees of a full node on a light client. Smart contracts on Ergo can be debugged using standard Scala debugging tools. Tokens are first class citizens and are minted at the protocol level. Ergo has a true decentralized cross-chain DEX (Spectrum). A variety of P2P self-sovereign decentralized applications have been built on Ergo. They include: Ergo Auctions, SigmaFi, and others. Ergo deployed the first implementation of the SigmaUSD/Djed stablecoin. Ergo has decentralized grid trading. There are also many of the dApps available on other chains: DAOs (Paideia), NFT marketplaces (SkyHarbor) and others.
Some of Ergo’s innovations are unique: storage rent (on-chain garbage collection), Rosen Bridge (smart contract implementation that can bridge any chain with a multi-signature wallet) cryptographic protocols as applications (e.g. stealth addresses, the Ergo mixer, etc.), oracle pools, stablecoin designs (Dexy), financial instruments (ChainCash) and more.
Perhaps most importantly, Ergo was fair launched. Most contracts are dApps are open-source and can be re-used. To read more on the values of the Ergo Blockchain, read the Ergo Manifesto.