“Ergo is the spiritual successor to Bitcoin." - Charles Hoskinson
Ergo is a blockchain project jointly developed by Cardano's founding partners Emurgo and IOHK to advance the proof of work consensus protocol to pioneering capabilities. Ergo is built on the eUTXO (extended unspent transaction output) model which is an extension of Bitcoin’s UTXO model, but with the implementation of Multi-Stage Contracts and native token support. Ergo utilizes the UTXO model for enhanced privacy & scalability options while also employing expressive smart contracts for DeFi applications.
Read the article on the Ergo Blog