Ergo: Powering the Future of Finance | by | Aug, 2022

From the blog.

Dear Community

We are thrilled to announce our next AMA session! This time we will be doing a live AMA chat with the Ergo team, Co-founder and core developer Alex Chepurny and Ergo Platform CEO Joseph Armeanio will be joining us live.

The AMA will be held this week on Tuesday, August 9th, at 16:00 UTC on Twitter Spaces!

And as always we will share with you a money prize, $200 in $ERG tokens for the best question asked! Just click here to submit it!

And now let’s get into Ergo’s introduction!

What is Ergo?

Ergo is a next-generation smart contract platform that ensures the economic freedom of ordinary people through secure, accessible, and decentralized financial tools.

When Ergo launched in 2019, there was no initial coin offering, no pre-mine and no pre-allocation of tokens to any team members or venture capitalists. The blockchain network has been in development for ten years. The company derives its knowledge and experience from the best academic research in the field of cryptography, consensus models, and digital currencies.

How Ergo works

In short, Ergo combines some of the best aspects of Bitcoin with the best of Ethereum. It describes itself as a blockchain protocol “built to be an efficient and secure financial contracts platform with radically new DeFi functionality.”

Ergo is a programmable blockchain like Ethereum. This means, among other things, that it can host decentralized applications. But, unlike Ethereum, it doesn’t charge gas fees.

Ergo has smart contract capabilities and its coding language, Ergoscript, makes it possible to create more complex, and more secure financial contracts. This could make a big difference to the decentralized finance and stablecoin industries.

  • Ergo transaction fees are fixed so you won’t need to worry about high GAS prices as you do with Ethereum.
  • Ergo was fairly launched with zero premises with a small number of tokens allocated to the developers that are released over time.
  • Ethereum is quicker and has wider adoption but don’t let this put you off Ergo you may need to wait a little longer but you can ensure you won’t be overwhelmed with unexpected GAS fees.
  • Ethereum has more layer 2 solutions available.
  • Ethereum has a greater amount of DEX.

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