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Ergo is a self-amendable platform that allows the absorption of new ideas and improvement in a decentralized manner. The platform builds advanced cryptographic features and new Decentralized finance functionality based on blockchain technology. It is based on the proof-of-work consensus mechanism that features the smart contract capabilities allowing for full integration with the DeFi sector.
Ergo provides a secure, easy and efficient way for the implementation of financial contracts useful in the long term. ERG, the native token of Ergo, is surged by more than 129% within a week and is currently priced at $10.79. The coin can be traded at different exchanges, including BitMart, Biki, CoinEx, and ProBit Exchange. The maximum supply of ERG coins is 97,739,924. Out of which, 32,012,428 coins are already in circulation.
The platform includes different economic and technical improvements to the existing blockchain technology. It uses a program in ErgoScript to protect the coins in the platform. Notably, ErgoScript is a protocol-friendly and powerful scripting language, which specifies the conditions under which the coin can be used.
Ergo employs a number of advanced features including, oracles, adjustable block size, and zero-knowledge proofs. It can even perform those things that are usually tricky on conventional platforms for smart contracts, enabling the highest degree of privacy and ensuring safety.
The previous year, it has partnered with EMURGO to explore stablecoin Research & development and the DeFi applications. They are leveraging each other's expertise on privacy the technical structures, and privacy in Cardano via smart contracts based on UTXO. Notably, EMURGO is a blockchain technology company that provides a solution for startups, enterprises, and developers.
Recently on May 7, 2021, Ergo Network was integrated with the Ledger network. With this integration, the users can safely ERG tokens with the secure hardware wallet. The ledger network provides an entirely safe method to the users for storing and interacting with ERG. The Ergo Network considers this integration to be a step towards improving the compatibility features of the system.