Thus hard forks should not be required in Ergo. Old nodes which vote against the new feature continue to operate normally. If an overwhelming majority of the network accepts a new feature, it is activated. For example, miners can vote to increase or decrease maximum block size, storage fee factor, etc.įor more fundamental changes Ergo is going to follow a soft-forkability approach. Thinking Long-TermĮrgo is prepared for the changes that might be expected in the future. Thus, a regular user with any device can join the network and start using Ergo. programs that let you interact with the network) to synchronize with the network by downloading less than a megabyte of data. This is highly frustrating, so Ergo enables light clients (i.e.
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The developers are making an example of Bitcoin Core full chain wallet: it takes a few weeks to sync and load all the data. Ergo also has storage rent to reclaim lost and forgotten coins. For example, you can mine Ergo’s native token ERG with just 3GB of RAM, which makes the niche much more accessible. However, Autolykos has several meaningful differences from Bitcoin’s PoW. PoW was chosen because it’s widely studied and has high security guarantees. Ergo Consensus AlgorithmĪutolykos, Ergo consensus protocol, is based on the Proof-of-Work (PoW) consensus algorithm. It's important to note that Ergo works on a separate blockchain. So they want to implement something similar to what Ethereum looks like today. Unlike the traditional financial system, no bailouts, blacklists or other forms of discrimination should be possible on the core level of Ergo protocol. As a result, the developers implemented various technical and economic ready-to-use ideas that add value but do not reduce the known advantages of blockchain systems.Įrgo’s primary focus is to provide an efficient and secure way to implement financial contracts, which are the most widely used application of blockchain technology. Vision of Ergo DevelopersĪccording to the website, Ergo was created in response to stagnation in the blockchain area. They are vision, consensus, light clients, survivability, economy, and applicability. The developers outline six main components that make the project stand out against others in the crypto niche. According to the website, Ergo builds advanced cryptographic features and radically new DeFi functionality on the rock-solid foundations laid by a decade of blockchain theory and development. Ergo Mining on Miningrigrentals and NiceHashĪs you can see on the official website, Ergo positions itself as smart money.
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