Ergo (ERG)
Ergo is a versatile blockchain protocol designed to facilitate the development of decentralized applications. It emphasizes efficiency, security, and ease of implementing financial contracts. The platform introduces various technical and economic enhancements to existing blockchain solutions. Central to Ergo is ErgoScript, a robust and protocol-friendly scripting language based on Σ-protocols, which protects every coin in the network.
Built on a decade of blockchain theory and development, Ergo integrates advanced cryptographic features and innovative decentralized finance (DeFi) functionalities. One notable feature is Ergo’s Zero-Knowledge Treasury, allowing users to create joint digital signatures with specific conditions for fund spending while keeping the identities of the address signatories concealed.
| Ticker | ERG |
| Category | Cryptocurrency |
| Website | https://ergoplatform.org/en/ |
| @Ergo_Platform | |
| Telegram | ergoplatform |
| https://www.reddit.com/r/ergonauts/ |
Ergo's native token
The Ergo platform operates with a native token known as Erg, which is divisible into up to 10^9 smallest units called nanoErgs, where one nanoErg represents one-billionth of an Erg. These tokens are crucial for the stability and security of the Ergo platform.
In its initial phase, Ergo rewards miners with Ergs according to a predefined and hard-coded emission schedule. This incentivizes miner participation, safeguarding the network from hash rate-based attacks like the 51% attack. The emission of Erg will conclude in eight years, after which miners will earn Erg solely from transaction fees.
The Ergo network also incorporates a system where block size and maximum computational cost are adjustable through miner on-chain voting. This ensures that during high transaction loads, miners select a subset of transactions, using fees to prioritize them. This mechanism helps prevent spam attacks while enabling the inclusion of transactions from legitimate users in the blocks.