As cryptocurrencies continue to gain more traction towards mass adoption, it is important to revisit the inspiration for the genesis of blockchain technology. Cryptocurrencies offer the promise of decentralized finance (DeFi) future and an alternative to economic models that continue to limit the way citizens control their money. 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 could be said that Ergo combines a few of the best aspects 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 achieve this through its native language, ErgoScript, and its application of novel Σ-protocols (a type of zero-knowledge proofs). 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 an extremely experienced team of developers and researchers. 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...
This article was first published on newsbtc.com.
Written by NewsBTC.