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Mining Ergo – Tutorial

In this article, I hope to be able to help you get an idea on how to start mining ERGO crypto on your PC. As well, get an understanding what ERGO is along with trading.

Index:


What is Ergo?

Ergo is designed for developing decentralized applications with the main focus of providing an efficient, secure and easy way to implement financial contracts. Ergo’s advanced cryptographic features and radically new DeFi functionality complement tried and tested principles with the latest peer-reviewed academic research in blockchain, consensus models and digital currencies. The ecosystem is powered by Multi-Stage Contracts using Ergo’s native language, ErgoScript. With its signature Σ-protocols (Sigma-protocols) and use of NIPoPoWs (Non-Interactive Proofs of Proof of Work), ErgoScript allows developers to create scalable and secure dApps. Ergo is partnered with EMURGO, the commercial arm of Cardano, to improve blockchain research and zero-knowledge systems. Ergo is also a member of the BPSAA.

Ergo Ecosystem: NFT Auction House, ErgoMixer, SigmaUSD, Oracle Pools, ErgoUtils, Zero-Knowledge Treasury, ErgoDex.


What are Ergo’s use cases?

Ergo’s Sigma protocols and blockchain architecture make it possible to launch numerous use cases that would be difficult or impossible on conventional blockchain platforms, as well as those that can be implemented on other networks. While the range of possible use cases is endless, here are several examples.


Digital gold

Just like Bitcoin, Ergo has digital scarcity. There is a limited supply, mined into existence through Proof of Work. In this respect, Ergo is a conservative blockchain. Furthermore, novel features such as storage rent ensures that miners are adequately compensated after block rewards end.


Powerful privacy applications: ErgoMixer

The project uses Ergo’s Sigma protocols to enable efficient, trustless mixing of funds, enabling a high degree of privacy while ensuring security is not compromised.


Safe, simple financial contracts

Ergo enables new models of financial interaction with the UTXO model, underpinned by smart contracts built on flexible and powerful ErgoScript that is easily accessible to developers.


Alternative financial systems and products

The need to reform the global financial system has been clear since the last crisis in 2008. Now, COVID-19 has forced our hands. We cannot delay, and the best way to start is from the grassroots. Ergo offers powerful tools to achieve this with smart contract-powered mutual credit facilities such as Local Exchange Trading Systems (LETS).


Experimental Economics

As the next financial crisis takes hold, it’s clear that conventional monetary policy is at its limit. Ergo as a smart contract platform enables more innovative, targeted implementations of economic stimulation that the conventional banking sector cannot achieve.


Money for hard times

Ergo supports light clients through NIPoPoWs with no compromise in security. Ergo is ideally suited to use in locations with limited internet connectivity, or where bandwidth and storage are an issue. With support for alternative financial systems that can be accessed safely from any device, Ergo is a natural choice for failing states and economies.


Strong Endorsement

Danish Chaudhry, CEO of Bitcoin.com Exchange, shared his views on ERG’s listing, saying that: “Ergo draws on ten years of blockchain development, complementing tried and tested principles with the best peer-reviewed academic research into cryptography, consensus models and digital currencies. Their mission is clear, making advanced cryptographic features easy and accessible, and with their array of products, this is a project I believe will continue to grow.”

Chaudhry continues on by saying: “We’re very excited to see how Ergo will continue to empower their vision, and gain further outreach with our outstanding community at the exchange.”

Armeanio, Ergo’s Business Manager expressed his enthusiasm when listing the ERG token on the exchange, by stating: “Ergo is excited to join the Bitcoin.com Exchange family. It is our honor to collaborate with Bitcoin.com Exchange as it has a history of being a good actor in the crypto space. They offer a wide variety of crypto products, services, educational content and user tools. We are looking forward to a long and prosperous partnership.”


About Ergo

Hailed by Charles Hoskinson as a future Top 10 cryptocurrency, Ergo is a Proof of Work blockchain with highly developed smart contract functionality for the decentralized finance network. Led by Alexander Chepurnoy, Ergo is built by some of the leading minds in cryptography who have previously worked in developing blockchain and cryptocurrencies for NXT, Scorex, Cardano, Waves and smartcontract.com which is now known as Chainlink.

Bitcoin.com

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