For those of you unfamiliar with Ergo, it’s probably time to get familiar.
With technology that builds advanced cryptographic features and radically new DeFi functionality on the rock-solid foundations laid by a decade of blockchain theory and development, it’s certainly going to make a wave within the DeFi space.
To simplify the complicated beast that is Ergo, its a proof-of-work blockchain protocol built to be a platform for applications with a main focus on providing simple solutions for financial contracts. Many similarities can be seen within the likes of Chainlink which currently has networks running on the Ethereum Network, however, Ergo does have a few things that might just bring it to the forefront of Smart Contracts.
Ergo announced recently its strategic partnership with Emurgo, one of the founding entities of the Cardano Protocol. As well as this, a lot of the technology was designed and led by former IOHK engineers. Having always had a high emphasis on offering customised privacy for stakeholders utilising the network, long-term blockchain network sustainability, and decentralisation options, Ergo somewhat embodies Cardano’s mission of sustainability, security and long term performance. Not to mention, as the interest in building decentralised financial services continues to grows in tandem with the overall blockchain industry, this partnership allows for much-needed deeper research & DeFi solutions development. These solutions will explore the usage of Ergo’s smart contracts that are embedded with privacy features and interoperable with Cardano’s large global network.
Ergo’s current market cap sits at around $16,000,000 USD, ranking it 382nd on coinmarketcap.com. This and the fact the coin is -84.17% from its all time high leaves HUGE room for growth.
Make sure to keep an eye out for the coin as it continues to make strides within the ever growing decentralised finance industry.