Thread by @yqboom

You've heard of $ERG but not sure what it is up to?

I'll make sure you know all about #ERGO and why is it gaining all this attention. 📈

Let's see what you could be missing out on with @ergoplatformorg! 🧵👇

#ERG $ERGO $ADA #Cardano

#Ergo is a next-generation layer 1 #blockchain that builds upon the UTXO model to serve as an efficient, decentralized, and secure, smart contract platform (without gas fees) and provides optional privacy.

Let's get some of $ERG's high praise out of the way, namely, the praise received from #Cardano $ADA (also a co-founder of Ethereum) founder Charles Hoskinson, who called $ergo a "technical marvel".

I believe this high praise from Cardano founder Charles Hoskinson can largely be attributed to #Ergo's revolutionary NIPoPoW technology.

$ERG's NIPoPoW is could be rather complex to some.

But, as per usual, I will provide the best explanation that I can.

So what is a NIPoPoW?

NIPoPoW is an acronym for Non-Interactive Proof of Proof of Work

I've covered Zero-knowledge proofs and non-interactive proofs extensively, including $MINA's and $ZEC's ZKP networks.

But NIPoPoWs is something relatively new.

NIPoPoWs use noninteractive proofs to prove the proof of work has happened on a blockchain.

PoW (Proof of Work) is a blockchain consensus mechanism that is used by #Bitcoin

The blockchains of traditional cryptos such as Bitcoin have one crucial flaw, storage space

NIPoPoWs solve this by not storing all the previous PoW transactions as Bitcoin does

NIPoPoWs only store the Proof of the PoW transactions (like a snapshot of the previous transactions)

The NIPoPoW enables #Ergo to increase the adoption of the blockchain.

If a blockchain is too storage-heavy, it is difficult for people to appropriately interact with it on mobile devices etc.

This counts especially for DApps.

The eUTXO model #Ergo utilizes has many advantages over the account-based model used by #Ethereum.

The primary upgrades include upgrades on:

🔸Immutability
🔸Privacy
🔸Scalability
🔸Interoperability and
🔸Transaction cost predictability

#Ergo has been focused on growing their development in also tof different fields including

#dApps
#NFTs
#Developer tools
and
#Mining pools

Find more about their upgrades in detail on their website @ ergoplatform.org

Getting information straight from the project as your source is always the best way to study a project.

ERGO's native token, which is the $ERG, has a hard-capped supply of 97 million.

These ergs will be emitted over 8 years.

$ERG has had some of the most fair token distribution I have seen to-date in the cryptocurrency space.

This is a metric by @MessariCrypto

We can clearly see the MASSIVE sum of $ERGO tokens that have been allocated to the public.

The amount of $ERG given to the public far outweighs any other cryptocurrency on the board.

Not too shit on some of these other projects, but those stats are kind of embarrassing.

I think the token allocation says alot about $ERG /
@ergoplatformorg's goals.

#ERGO really is here to provide value to the community, not just to create some quick cash.

I will certainly continue to explore the $ERG space and see what their future looks like but that's it for this thread!

Follow me - @yqboom

and 💟 and RT to show $ERG to the world.