The Ergo Platform is a secure, resilient, open, permissionless, and truly decentralized DeFi application base chain built from the ground up. It primarily focuses on providing an efficient, safe, and straightforward way to implement financial contracts. Based on the new PoW consensus mechanism, Autolykos, which it remains committed to, Ergo utilizes an EUTXO model that combines the benefits of both UTXO and account models. While inheriting Bitcoins tradition, it introduces many new features and outperforms its competitors in implementing complex financial contracts.
Its native token, ERG, has a total supply of 97,739,925 tokens, with no further issuance or destruction planned.
Development of Ergo began in 2017, and its mainnet launched on July 1, 2019. Led by the renowned kushti (Alexander Chepurnoy) on Github, the top-tier technical team boasts over a decade of blockchain theoretical research and practical experience. Team members have contributed to projects such as NXT, Scorex, Cardano, and Waves.