Ergo platform to solve principle Bitcoin problems

Ergo Platform shared news on 02 July about its mainnet launch of a new platform for blockchain applications which serves multifold purposes.

Ergo commenced by informing that the new platform would provide a truly decentralized, efficient, secure and easy way to implement decentralized applications (dApps). There was also a provision to develop off-chain protocols and smart contracts. Ergo informed that the platform uses the Autolykos consensus protocol which solves many of the problems in Bitcoin’s blockchain. Such problems could be regarding security or scalability.

Alex Chepurnoy, Ergo Core Developer cited – 

“We have developed an approach to smart contracts in line with Bitcoin’s original concept, but with small additions that potentially cover 99% of current use-cases. Ergo allows people to synchronise with the network by downloading less than a megabyte of data, reducing the process from potentially weeks to minutes and enabling it to take place on mobile devices – all with the same security as current third-party solutions.”

Charles Hoskinson who had been a vocal supporter of Ergo since two years openly expressed that Ergo was one of the most interesting and exciting projects in the arena. Charles indicated enthusiasm to witness Ergo grow and evolve. He also commented on the capabilities of the team stating that the team was well-respected. As a sign of marked presence, Charles mentioned that the developers were cited in Facebook’s Libra whitepaper.

bitcoin

Alex sustained by adding that the most common use of blockchain technology was financial contracts. He opined that the adoption has stalled and there were fewer innovations turning up. Alex noted that this could be due to the dependence on third parties. He indicated the benefit by cutting out middlemen. While security would not be compromised, Alex expressed that Ergo would open the door to more individuals to embrace decentralized technologies.

In June, Waves platform welcomed a long-awaited novelty in the smart contracts and decentralized applications (dApps) segment. Waves introduced itself as a decentralized blockchain ecosystem for building Web 3.0 solutions. Waves expressed on its key takeaway, the RIDE programming language on mainnet using which developers could build fully-fledged dApps on Waves blockchain. Waves extolled the novelty of the new offer.

Ergo Platform shared key insight into Ergo Core developers. Alex had been involved with Bitcoin since 2011 and has been developing cryptocurrency-related software since early 2013.  He used to be a core developer and a portal co-founder. Alex had co-authored a dozen research papers on blockchain technology, most of which have appeared in reputed publications. Ergo Platform noted that Alex and Dmitry Meshkov were the core developers of Ergo.