Ergo — use cases confirming the existance as a long term viable coin
Ergo is a cryptocurrency for contractual money that at first look is not doing anything new when it comes to the security aspects, choosing to go the path of the now battle-hardened and proven method of proof of work. However apart from security aspects where a conservative choice is usually a good idea, the coin is full of the lastest technology such as Zero-Knowledge Treasury, Oracle pools and a built in Sigma-protocol enabling such things as the Ergo-mixer.
A big trend and question many are asking currently is how cryptocurrency coins will collaborate with each other. This question has come out of the realization that if you are going to build a new economy around cryptocurrencies, then they need to be easily able to communicate with each other and provide usefulness across the different cryptocurrencies and not to be siloed into a smaller community. Ergo does this not only well, but punches far above its weight with a collaboration with Cardano another cryptocurrency that has a much larger market cap and transaction volume.
This collaboration runs deep as can be seen with how ERGO is integrated into Yoroi a wallet/Dapp launcher made by Emurgo one of the 3 entities that support the Cardano ecosystem and that they already are taking steps towards interoperability with Cardano oracles. Ergo is also in development of a stable coin that will be likely be utilized by Cardano. The bottom line here is that by collaborating with a much larger ecosystem Ergo has already a lot of potential for transaction volume and use cases from the Cardano ecosystem, while at the same time it is a benefit for Cardano to utilize the technology developments of Ergo.
So why should the reader care about Ergo and its potential? Well I would point out a few things I find interesting myself:
- Ergo has had no ICO, and started with zero supply and has increased the supply through the mining process. That means every user entering the ecosystem starts at the same level and through participation you can grow your influence.
- It has in a very quick time span shown that it has many use cases such as already running auctions and solutions for selling artwork, airdrops and issuing tokens.
- Some very talented developers are part of the Ergo ecosystem such as Robert Kornacki, mixed with experienced and proven developers such as Ergo founder Alex Chepurnoy (NTX, Chainlink — then researcher at IOHK with many peer reviewed research articles)
If you are interested to learn more I recommend the community run ergo101.org for more information.
If you found this useful you can donate to my Erg tipping wallet: 9hVLU73iQ7339kvjckvr3aymA89Xeb4WGwbvk6BhQ6Kwg4mQPD2 (only ERG!)