Ergo is a secure blockchain equipped with decentralized finance (DeFi) functionalities. It combines the best features of the top two cryptocurrency projects, Bitcoin (BTC) and Ethereum (ETH).
The Ergo platform aims to provide an efficient, secure, and easy way to implement financial contracts that will be useful and survivable in the long term.
ERG is the native token of the Ergo protocol.
Check the live Ergo price, 24 hour trading volume, fully diluted market cap, total supply, circulating supply, max. supply, ERG price history, dominance, etc., including details on how the supplies are calculated and get updates on Ergo USD price in real-time on CoinStats, one of the best crypto platforms around.
CoinStats is a cryptocurrency research and portfolio tracker app that provides investment advice and valuable cryptocurrency data, including each coin's current price, price chart, price statistics, 24h volume, etc., to help investors carry out fundamental analysis to make better investment decisions.
Let's get started!
What Is Ergo
Ergo combines some of the best aspects of Bitcoin (BTC) with the best of Ethereum (ETH). It uses Bitcoin's Proof-of-Word (PoW) consensus protocol to secure the network and implements Ethereum's smart contracts for its DeFi functionality. As a programmable blockchain, Ergo hosts decentralized applications (DApps), but, in contrast to Ethereum, it doesn't charge gas fees.
Ergo's coding language, Ergoscript, enables developers to create complex and secure financial contracts.
Ergo uses Autolykos, the more energy-efficient mining protocol compared to Bitcoin’s mining protocol.
Ergo describes itself as a self-amendable protocol that reportedly allows it to absorb new ideas and improve itself in a decentralized manner.
Some of the most notable DApps that Ergo supports are:
- SigmaUSD: The first UTx0-based stablecoin, a decentralized stablecoin pegged to the U.S. dollar.
- Ergo Auction House: An auction house for non-fungible tokens (NFTs).
- ErgoMixer: The first non-custodial, noninteractive mixer in the crypto market. A mixer allows users to send tokens in batches and mix those tokens together, making tracking user transactions significantly more difficult.
Is Ergo a Good Investment
Cryptocurrencies are highly volatile by nature. The criteria to determine if a coin is a good investment depends on these distinct factors:
- The team behind the coin
- Price Prediction
- Scalability.
Ergo Team
Ergo’s co-founders are Alexander Chepurnoy and Dmitry Meshkov. Ergo team consists of members with backgrounds in cryptocurrency and blockchain-related matters.
Alexander Chepurnoy has been involved in Bitcoin since 2011 and has developed cryptocurrency software since 2013. He co-founded Ergo with Dmitry Meshkov, who has a Ph.D. in Physics and over a decade of software development experience.
Chepurnoy and Meshkov worked as researchers at IOHK, an engineering and research company building blockchains and cryptocurrencies. IOHK was instrumental in creating the cryptocurrency Cardano.
Price Prediction
Another essential factor determining how suitable currencies are for investment is how predictable their price change is.
Coins should have a predictable price fluctuation and an increase in value over time to be considered great investments. Note that unknown future events can affect the price, so making a precise forecast is impossible.
Ergo price gained over 1,800% in 2021, more than double any other altcoins.
So, what was the highest price for Ergo?
Ergo hit an all-time high of $29.58 on Apr 27, 2018, and the lowest price for Ergo was $0.094191160622 on Mar 13, 2020.
Get started by checking the Ergo price today!
Ergo improves on the two market leaders, Bitcoin (BTC) and Ethereum (ETH), and it has ties with another top-five cryptocurrency Cardano (ADA).
Experts believe the Ergo coin can make it to the top ten cryptocurrencies in the coming years.
Scalability
Scalability has been a high priority since the Ergo mainnet launch. Ergo incorporates various features to achieve great scalability, such as an extended UTXO model, unique flexible crypto-contracts based on sigma protocols, storage rent, stateless and ultra-efficient SPV clients support, and its ErgoScript language, and NIPoPoWs.
How to Buy Ergo
Buying Ergo isn’t the easiest process right now, as it’s not listed on most cryptocurrency exchanges. You must sign up with an exchange that supports ERG and undergo KLM verification to access ERG and other assets. Once you get verified, simply login to your account, check the ERG and different currency prices, select a trading pair and start trading.
Here are a few exchanges that support Ergo:
If Ergo continues to grow, it could get listed on the most popular cryptocurrency exchanges, leading to the ERG price going up. If you think Ergo is a good investment, it’s worth learning how to buy it now so you can get in early.
Visit the Ergo website to learn which wallets are approved by the Ergo Foundation.
Note that any investment or trading is risky.
Investment Advice Disclaimer: No part of the content that CoinStats provides constitutes financial advice, legal advice, or any other form of advice meant for your specific reliance for any purpose. No content on our Site is intended to be a solicitation or offer. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyze and verify our content before relying on them. Note that trading is a highly risky activity that can lead to major losses, and past returns are not a guarantee of future returns. Risk only assets that you are willing to lose.
Certain content has been prepared by third parties not affiliated with CoinStats or any of its affiliates, and CoinStats is not responsible for such content. CoinStats makes no representation of the accuracy, suitability, or validity of any information provided.
