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About ERGO (ERG)

Ergo (ERG) is a proof-of-work blockchain that was launched in 2019. It is designed to be a scalable and secure platform for decentralised applications (dApps). ERG is also a store of value and can be used for peer-to-peer payments. The main uses of ERG include paying for transaction fees on the Ergo network, using ERG to build and deploy dApps and holding ERG as a store of value.

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Ergo (ERG): overview

Key facts about Ergo (ERG):

It was launched in 2019 by a team of developers led by Alex Chepurnoy, the co-founder smartcontract.com (now Chainlink)
Ergo is a proof-of-work (PoW) blockchain that uses the Autolykos Algorithm.
Ergo had a fair launch with no ICO, the entire circulating supply was mined from zero
Ergo currently has 75% of the total supply in circulation with an emission rate of 36 ERG per Block
Ergo is designed to be a platform for decentralised applications (dApps), and it supports smart contracts and native tokens.
Ergo's native token is ERG, and it can be used to pay for transactions.
Ergo is a relatively new project, but it has already attracted a lot of attention from the cryptocurrency community.
Ergo uses a similar ‘extended’ UTxO (eUTxO) model as Cardano, but has its own unique implementation with added features such as Sigma Protocols, Storage Rent, Non-Interactive Proofs of Proof of Work (NIPoPoWs) and more.What is Ergo (ERG)?

Our newest Bitpanda Spotlight project is Ergo, a proof-of-work smart contract platform designed to bring the future of financial interactions into the present. It’s backed by a powerful and secure scripting language, a suite of zero-knowledge proofs, and a foundation rooted in the best principles and research in cryptography and blockchain technology.

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What is the purpose of the Ergo token?

Ergo is a Resilient Platform for Contractual Money. It’s designed to be a platform for applications with the main focus on providing an efficient, secure and easy way to implement financial contracts. Ergo is the culmination of a decade of blockchain development, combining tried-and-tested concepts with peer-reviewed academic research in digital currencies and cryptography. This has enabled Ergo to incorporate advanced cryptographic features into its framework, creating a platform that is both robust and future-proof.

What are the token utilities of ERG within the Ergo ecosystem?

ERG tokens are used for transaction fees, smart contract execution, and as a store of value within the Ergo ecosystem.

What are the main features of Ergo?

Ergo offers a range of features designed to support complex financial contracts, enhance privacy, and improve scalability, including:

ErgoScript: This is the programming language used in Ergo that sets the rules for spending currency. ErgoScript is designed to support a wide range of features including ring signatures, atomic swaps, multiple currencies, and self-replicating scripts.
Sigma Protocols: These are non-interactive zero-knowledge proofs that can be composed using basic AND/OR logic.
Multi-stage Contracts: Ergo extends the standard threshold m-of-n signature protection, allowing for the specification of complex recipients for coins. This enables the creation of intricate, secure, and efficient Turing-complete smart contracts.
Non-Interactive Proofs of Proof of Work (NIPoPoWs): This feature enables robust light clients and efficient sidechains, making the platform more accessible and efficient.
Storage Rent: Ergo introduces a storage rent feature that helps manage blockchain bloat, turning it into a profitable aspect of the ecosystem.
eUTXO Model: This enhanced UTXO model improves privacy, scalability, and interoperability within the Ergo ecosystem.
Autolykos: Ergo mining is based on Autolykos, a fairly launched efficient ASIC-resistant Proof of Work algorithm.

With these features, Ergo aims to redefine the concept of contractual money and offer a platform that is both versatile and secure.

What makes Ergo different from its competitors?

Ergo is a cryptocurrency that builds upon the same UTXO model as Bitcoin but extends its functionality with additional features. Ergo allows for more complex programmability by providing access to the entire spending transaction and the block solution in the execution context. This enables the creation of Turing-complete contracts and the implementation of contractual money, where digital coins can be explicitly bound to a contract in the form of executable code.

TL;DR

• Sophisticated yet simple composable financial contracts possible
• Proof of Work
• UTXO-based
• Fairly launched

What are the Ergo tokenomics?

Ergo has a maximum supply and a specific emission schedule, which lowers over time. To fund development, promotion, events, and any other activities which may advance the platform, Ergo has in place a treasury, which received 4.43% of the supply. The remainder of the emission goes entirely to miners.

What is the max supply?

The maximum supply is 97,739,925 ERGs, with full emission expected by 2045.

What is the current circulating supply?

Around 73 million.

Did Ergo have an ICO/Token Sale?

No, Ergo did not have an ICO. It was mined from zero.

What’s next for Ergo (ERG)

The cornerstone of Ergo’s upcoming roadmap is concentrated on amplifying the efficiency and scalability of the protocol. The Ergo team recently achieved a significant milestone—enabling full node security to operate on a standard laptop within minutes. This advancement obviates the need for verification of approximately 95% of the blockchain, setting a new industry standard for streamlined security.

Moving forward, Ergo’s attention will be directed towards the refinement of peer-to-peer functionalities. The team is in the process of implementing advanced scaling strategies, such as sub-block confirmation protocols. These measures are designed to exponentially accelerate network speed for end-users while upholding the integrity and security of the platform. Ergo also boasts a vibrant ecosystem with many developments including:

Duckpools: A secured lending platform that leverages collateral to offer loans.
Dexy: Introduces an innovative stablecoin model, underpinned by seigniorage. Its inaugural offering will be DexyGold, utilising a USD/XAU v2 oracle pool.
Rosen Bridge: Currently in beta testing, this Ergo-centric bridge is building its first connector to the Cardano network. With bridges for BSC/ETH/BTC planned.
Paideia: A organisation with a mission to develop a comprehensive, secure, and well-documented DAO software suite that empowers new and existing DAOs.
Blitz TCG: A highly competitive digital trading card game, aiming to revolutionise the genre.
Machine Finance: A pioneering Grid-Based Decentralised Exchange.
Thz.fm: gives musicians the option to self-distribute and sell for either USD or ERG currencies.
Lithos: chain-agnostic decentralised mining pool infrastructure

Does Ergo have any partnerships?

While Ergo’s initial focus centred on establishing the core infrastructure, partnerships were constrained as the team prioritised completing foundational elements. Nonetheless, several impactful collaborations emerged. Notably, the Emurgo partnership yielded Oracle Pools, SigmaUSD, and the headless dApp framework through extensive joint research.

Ergo maintains ongoing partnerships with other UTXO chains through the UTXO Alliance, fostering innovations like the Ergo parallel asset on Flux. Furthermore, our close collaboration with IOG and shared eUTXO stack with Cardano holds the potential for future synergies.

Meet the Ergo team

Ergo is powered by a team of experienced developers and researchers with strong academic backgrounds, including PhDs and multiple publications in cryptography, compiler theory, blockchain technology, and cryptographic e-cash. Our team members have extensive experience in core development for cryptocurrencies and blockchain frameworks such as Nxt, Scorex, and Waves.

There is no official 'core' team. While some people working on Ergo day-to-day are salaried, many are volunteers, collecting bounties or working on their own projects on top of Ergo. Core marketing can include keen community members alongside salaried workers. Similarly, anyone with significant contributions to core repositories can be invited to Core Development chats without being a salaried employee.

To learn more about the individuals contributing to Ergo's success, visit Ergo's Hall of Fame. There is however, the Ergo Foundation, some information is given on the members below. For more information on the foundation members please see this page.

Alexander Chepurnoy (kushti) is an Ergo Foundation board member and director. He has been active in blockchain since 2011, has written over twenty academic papers, and has more than fifteen years of experience in software development. Before co-founding Ergo, he was also a co-founder of smartcontract.com (now Chainlink), a core developer at NXT, and one of the first employees at IOHK, where he was a Research Fellow and Team Scorex Manager.
Alexander Slesarenko (morphic) is an (honourary) Ergo Foundation board member and graduate of Applied Mathematics from Udmurt State University. He has more than 25 years of experience in software development as a team leader, software architect, engineer and researcher, focusing mainly on programming language design and implementation. He is a Blockchain Core Developer and the Lead Developer of ErgoScript Compiler, Sigmastate interpreter, and Appkit at Ergo. He was also an Expert Team Leader at Huawei Research Lab, focusing on high-performance computing and big data processing.
Mohammad Hasan Samadani (mhs_sam) is an (honourary) Ergo Foundation board member. He has a PhD in computer science and over 12 years of experience in security and software development as a product owner, researcher, and team leader. He became an Ergo Foundation Board Member in 2020 after outstanding contributions to developing the Ergo mining infrastructure, Stratum server, and ergopool (smart contract-based pool to bypass pool resistance of Autolykos v1).