SWAGGYLIONSCLUB -MINING ERGO
WHY DID WE CHOOSE ERGO?
Ergo is a next-generation smart contract platform that ensures the economic freedom of ordinary people through secure, accessible, and decentralized financial tools.
Ergo is a next-generation Proof of Work smart-contract platform that enables new models of financial interaction, underpinned by a safe and rich scripting language built with flexible and powerful Zero-Knowledge proofs (Σ-protocols).
Ergo was created for regular people, Proof of Work allows a truly fair start and the highest degree of decentralisation. It’s also widely studied, has very high-security guarantees and is friendly to light clients. These are all essential for having useful contractual, programmable money that’s ready today.
What are the main use cases?
Ergo provides superior support for real-world financial agreements. It does this through:
- A simple high-level language, ErgoScript, with support for formal verification of contracts.
- Sophisticated smart contracts with Turing-complete support.
- Turing-complete smart contracts.
- Easy Oracle creation allowing robust decentralized networks of oracles organized into a trust hierarchy within a pool, bringing lower risks of exploits and manipulation.
- Sigma Protocols that enable world-class optional privacy on the peer to peer level; and truly unstoppable DeFi.
- Support for Multi-Stage contracts that operate on a stateful level.
Ergo mining is based on Autolykos, an ASIC resistant Proof of Work algorithm written in Scala. It can run on most low-end GPUs at cooler temperatures than other algorithms — increasing mining equipment longevity. Combined with the eUTXO model and shifting the heavy-lifting off-chain, this creates a highly efficient Proof of Work.
https://ergoplatform.org/en/blog/2021-04-26-the-ergo-manifesto/
