Ergo (ERG) is a programmable blockchain that uses advanced technological features to design decentralized apps (dDApps). According to the whitepaper, Ergo's goal is to make financial contracts more efficient, safe, and simple to implement. 

Blockchain is known for maintaining a safe transaction method using distributed ledger technology without using traditional financial institutions as intermediaries. Encryption and decentralization are critical components of the blockchain ecosystem. However, these traits have not proven viable for running a blockchain-based platform on a large scale and for the long term. The cost of network resources, computing power, and data storage is frequently exorbitant. The expense is then passed on to customers as a transaction fee. As a result, blockchain technology is still mostly limited to financial applications, where the advantages of improved security outweigh the disadvantages of higher transaction costs. 

To address the issues mentioned above and make blockchain more useful for mass adoption, Ergo envisions the following: 

The consensus mechanism is an essential part of any blockchain system, and Ergo uses Autolykos, a self-developed unique proof-of-work (PoW) consensus technology. Ergo developers chose PoW methods for various reasons, including their general study, excellent security assurances, and user-friendliness. Going a step further, Autolykos is memory-based, does not require specialized hardware, and lets ordinary people engage in network security and reward mining.

Ergo aims to be a genuinely decentralized community-driven platform governed by the Ergo Foundation dedicated to:

Hence, Ergo seeks to be well-suited to develop applications and currency systems as a platform for contractual currency. However, participating in such systems would require using Ergo's native token, ERG, to pay storage, rent, and transaction fees, providing miners with significant continuous incentives to protect the network with sufficient mining power. On the other hand, users will be motivated to acquire, use, and preserve ERGs if they regard Ergo apps as valuable. 

Alexander Chepurnoy is the cofounder of Ergo. He also cofounded smartcontract.com (now Chainlink). Dmitry Meshkov is the cofounder and core developer of Ergo. Previously, he worked as an RD researcher at Input Output Hong Kong (IOHK), developing a blockchain prototype framework. Alexander Slesarenko is an Ergo Foundation board member and a Udmurt State University applied mathematics graduate. The team released the whitepaper on May 14, 2019. 

Users with access to commodity hardware can mine ERGO. However, the total supply of ERG is capped at under 100 million. Ergo uses a technique in which a portion of each block reward is set aside for development and marketing. The block rewards decrease steadily after the first two years. Block rewards start at 75 ERG and fall to zero over eight years, after which total supply will be fixed.

In addition to transaction fees, miners can now benefit from storage rent costs paid on boxes (UTXOs) that have not moved their currency for four years or longer. UTXO refers to the quantity of digital currency left behind after a completed cryptocurrency transaction. There are at least two benefits to this strategy. For instance, it provides miners with a new currency stream once block incentives are exhausted. This is a strong motivation because the network's security depends on mining power and miner involvement. Second, it allows lost coins to be recycled into the Ergo economy. 

We update our Ergo to GBP currency in real-time. Get the live price of Ergo on Coinbase.

The current market cap of Ergo is £20.272M. A high market cap implies that the asset is highly valued by the market.

The all-time high of Ergo is £17.27. This all-time high is highest price paid for Ergo since it was launched.

Over the last 24 hours, the trading volume of Ergo is £101.537K.

Assets that have a similar market cap to Ergo include Electronic USD, NVIDIA Tokenized Stock (Ondo), Zentry, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Ergo is 83 million.