Ergo (ERG)

Ergo is currently trading at $1.8463, after a price change of -1.46% in the last 24 hours.

Ranked as cryptocurrency #233 by capitalization today, ERG market cap is valued at $108,325,094. ERG trading volume reached $1,573,637 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on ERG coin price prediction page.

What is Ergo?

Ergo is a blockchain protocol for deploying decentralized applications and smart financial contracts. Every coin in the protocol is based on the ErgoScript programming language, which sets the conditions for the token use. The protocol is further enhanced through support for light nodes in running contracts on untrusted commodity hardware. 

Ergo also features a self-amendable platform that enables it to accommodate new ideas and future upgrades. The blockchain outlines five principles in its vision; decentralization, community focus, contractual money, long-term approach, and an open and permissionless platform. Ergo utilizes its own proof-of-work consensus called Autolykos. The consensus claims to be memory-hard and pool resistant, preventing monopoly in mining. 

There are currently 32,012,428 circulating ERG tokens from a total supply of 35,316,150 and a hard cap of 97,739,924. All the circulating ERG tokens are presented in the three boxes; no premine proof box, which has one ERG token protected by a script that restricts it from being spent. The treasury box has 4,330,719.5 ERG tokens set for the protocol’s development. Miners’ reward is the last box and contains 93,409,132 ERG for miners’ rewards. The token is used in incentivizing miners and in network security. 

ERG is divisible up to nanoErgs, one billionth of an ERG. The token facilitates hash rate-based security. ERG emission is set for eight years, after which the miners will share in the distribution charges. Alexander Chepurnoy and Dmitry Meshkov are the co-founders of Ergo.