Decentralization was one of the most important priorities for Ergo’s launch. There was no pre-mine and there was no pre-allocation to an ICO or Venture Capital investments. Additionally, only 4.37% of the total ERG supply is gradually delegated from the block rewards to the Ergo Treasury. Ergo mining will end in 6 years and from that point onwards, miner rewards will be supplied by transaction fees and storage rent from unused old data bytes in the blockchain.
Autolykos has several differences from Bitcoin’s PoW. It does not allow ASIC miners, and is mined with 4-8 GB GPUs, therefore it is easier for the community to acquire the mining equipment.
NIPoPoWs can be used to increase decentralization with non-interactive mining pools. They also allow light miners through the implementation of logarithmic space mining. By mining in logarithmic space, miners will not need to store the whole blockchain data and they can bootstrap using just block headers.
Ergo is built for secure and functional decentralized finance for everyone. Decentralized applications on Ergo are governed with smart contracts and they are immutable and trustless. ErgoDEX, Oracle Pools, SigUSD, ErgoMixer are the flagship prototypes of UTXO based decentralized finance. Users can explore...
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Written by Ergo Foundation.