Ergo

Ergo (ERG) is a next-generation Proof of Work smart-contract platform that strives to provide an efficient and easy way to implement contracts. It is designed with the intention of being useful and sustainable in the long term. Ergo is a self-amendable protocol, which means it can absorb new ideas and improve itself in a decentralized manner. It is underpinned by a safe and rich scripting language built with flexible and powerful Zero-Knowledge proofs (Σ-protocols). Ergo's design and implementation are the result of work by developers and researchers with backgrounds in cryptography, compiler theory, blockchain technology, and cryptographic e-cash.

Ergo operates on a Proof of Work consensus model, which allows for a fair start and a high degree of decentralization. It uses the extended-UTXO model, which implies UTXOs with the ability to contain arbitrary data and sophisticated scripts. Ergo extends Bitcoin's way of writing contracts by attaching a guard script (together with additional custom data) to every coin. This approach aims to allow the implementation of efficient contracts of arbitrary complexity. Ergo also uses Sigma Protocols (Σ-protocols), a form of a Zero-Knowledge proof system, which aims to enable peer-to-peer interaction with privacy in mind.

Ergo seeks to enable new models of interaction. It aims to provide support for real-world agreements through a simple high-level language, ErgoScript, with support for formal verification of contracts. Ergo also allows for easy Oracle creation, enabling robust decentralized networks of oracles organized into a trust hierarchy within a pool. This aims to reduce the risks of exploits and manipulation. Ergo's Sigma Protocols strive to provide optional privacy on the peer-to-peer level and DeFi. Ergo also supports Multi-Stage contracts that operate on a stateful level.

Ergo was built to be a network that supports permissionless, composable contracts. The initial design and test net process started in 2016, with the mainnet launching on July 1st, 2019. Ergo was designed and implemented by developers and researchers who have a solid background in core development with cryptocurrencies and blockchain frameworks. There were no private sales, premine, or initial coin offering. The Ergo Foundation, a community-driven entity, focuses on promoting the development and widespread adoption of the Ergo Platform protocol.