[PRE-ANN] Ergo Platform is coming, the AAA class of blockchains

[rafzalan]

When will this hidden gem release its mainnet?
Platform market becomes more and more competitive through, what kind of apps do you expect to run on?
Is there an exchange for ergo tokens under development?

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[Takzan]

This is a very reliable project, bringing enough elements to develop in the future. I advise everyone to invest in this project to accelerate the project.

[mxxxxxx]

Big claims that you are going to beat $BTC and $ETH. Although the project has some solid fundamentals, I'm not sure if it will get the project as big as BTC. I think it will be on the top 10 though.

When is the estimated release on this one?

Q4 2018

[mxxxxxx]

When will this hidden gem release its mainnet?
Platform market becomes more and more competitive through, what kind of apps do you expect to run on?
Is there an exchange for ergo tokens under development?

Q4 2018

Ergo`s efficient blockchain protocol will allow it to be widely used while still remaining friendly to application protocols thanks to its unique transaction language, Sigma-State language based on Zero-Knowledge proofs, safe and practical contracts, light and secure clients, soft-forkability only, conservative and scientific approach. We hope to avoid hard forks after the launch.

Flexible smart contracts language, please read our paper on that - https://arxiv.org/pdf/1806.10116.pdf "Self-Reproducing Coins as Universal Turing Machine", will allow to implement any second (third, fourth, etc.) layer protocols as well as sidechains. With different parameters, Ergo is good for data-intensive applications. There will be two chains with the same technology, built-in sidechains support(https://nipopows.com), so it will be possible to release money in Σ-Cash if some event happens in Σ-Data.

An example of an atomic Ergo <=> asset exchange https://github.com/ScorexFoundation/sigmastate-interpreter/pull/189/files#diff-64fa5bc99901443c14759fcd2606acc6

[rafzalan]

When will this hidden gem release its mainnet?
Platform market becomes more and more competitive through, what kind of apps do you expect to run on?
Is there an exchange for ergo tokens under development?

Q4 2018

Ergo`s efficient blockchain protocol will allow it to be widely used while still remaining friendly to application protocols thanks to its unique transaction language, Sigma-State language based on Zero-Knowledge proofs, safe and practical contracts, light and secure clients, soft-forkability only, conservative and scientific approach. We hope to avoid hard forks after the launch.

Flexible smart contracts language, please read our paper on that - https://arxiv.org/pdf/1806.10116.pdf "Self-Reproducing Coins as Universal Turing Machine", will allow to implement any second (third, fourth, etc.) layer protocols as well as sidechains. With different parameters, Ergo is good for data-intensive applications. There will be two chains with the same technology, built-in sidechains support(https://nipopows.com), so it will be possible to release money in Σ-Cash if some event happens in Σ-Data.

An example of an atomic Ergo <=> asset exchange https://github.com/ScorexFoundation/sigmastate-interpreter/pull/189/files#diff-64fa5bc99901443c14759fcd2606acc6

Amazing, countless innovative ideas, groundbreaking.
This project could become a great success.

[mrbanjo]

When will this hidden gem release its mainnet?
Platform market becomes more and more competitive through, what kind of apps do you expect to run on?
Is there an exchange for ergo tokens under development?

Q4 2018

Ergo`s efficient blockchain protocol will allow it to be widely used while still remaining friendly to application protocols thanks to its unique transaction language, Sigma-State language based on Zero-Knowledge proofs, safe and practical contracts, light and secure clients, soft-forkability only, conservative and scientific approach. We hope to avoid hard forks after the launch.

Flexible smart contracts language, please read our paper on that - https://arxiv.org/pdf/1806.10116.pdf "Self-Reproducing Coins as Universal Turing Machine", will allow to implement any second (third, fourth, etc.) layer protocols as well as sidechains. With different parameters, Ergo is good for data-intensive applications. There will be two chains with the same technology, built-in sidechains support(https://nipopows.com), so it will be possible to release money in Σ-Cash if some event happens in Σ-Data.

An example of an atomic Ergo <=> asset exchange https://github.com/ScorexFoundation/sigmastate-interpreter/pull/189/files#diff-64fa5bc99901443c14759fcd2606acc6

Amazing, countless innovative ideas, groundbreaking.
This project could become a great success.

Everything looks very good. I especially like that the team is technically good at code work. The only thing I would like is some kind of promotion of the project in the community. Whether it's a version of signatures and high ranks on the forum or advanced yotubers/insta/githab people who would review the project from the best side.

[mxxxxxx]

Ergo Platform Testnet 1.6.1 released. Fixes for wallet rollback, miners limiting both block size and computational cost and transactions generator. Off to 1.7

https://twitter.com/ergoplatformorg/status/1044160171205947392

[mxxxxxx]

Vasily Kharin, Dmitry Meshkov and Alex Chepurnoy’s on-chain scaling presentation at Scaling Bitcoin in Tokyo is only a week away

https://twitter.com/1nst1tute/status/1046689953919504384

[kushti]

Providing some news and answering questions:

1.7 is on the way. Instead of voting system (when miners are changing parameters of the system on the fly), it will contain demurrage component. The current design is, no any mandatory minimum fee on consensus level (so market will find a proper function for a transaction fee), but every four years a miner can charge some tokens, thus spending a coin and creating essentially the same coin but with a storage fee. The fee is calculated as K*(coin size in bytes)*storage time. K is to be changed via miners voting. If a user is moving a coin before expiration time, there is no mandatory storage fee to be paid then (but we assume that a transaction fee would be equal to storage fee for an efficient market).

I think 1.7 will be released at the end of the next week. Then 1.8 with voting system, and 2.0 with PoW.  PoW is mostly finalized. Then security audit, wallet API update etc, and then mainnet release. 2.0 will be around beginning-mid of November. Not sure about precise date for mainnet now.

We're talking with some outsourcing companies on developing wallet UI and decentralized exchange. 

[mxxxxxx]

Providing some news and answering questions:

1.7 is on the way. Instead of voting system (when miners are changing parameters of the system on the fly), it will contain demurrage component. The current design is, no any mandatory minimum fee on consensus level (so market will find a proper function for a transaction fee), but every four years a miner can charge some tokens, thus spending a coin and creating essentially the same coin but with a storage fee. The fee is calculated as K*(coin size in bytes)*storage time. K is to be changed via miners voting. If a user is moving a coin before expiration time, there is no mandatory storage fee to be paid then (but we assume that a transaction fee would be equal to storage fee for an efficient market).

I think 1.7 will be released at the end of the next week. Then 1.8 with voting system, and 2.0 with PoW.  PoW is mostly finalized. Then security audit, wallet API update etc, and then mainnet release. 2.0 will be around beginning-mid of November. Not sure about precise date for mainnet now.

We're talking with some outsourcing companies on developing wallet UI and decentralized exchange. 

https://twitter.com/ergoplatformorg/status/1046870135787720704

[c1oud]

We're talking with some outsourcing companies on developing wallet UI and decentralized exchange. 

Maybe you could reuse waves wallet, DEX and matcher at some point in time? Sasha in his recent public speech mentioned that Matcher could be blockchain agnostic and usage on other chains is basically possible use-case. Also you have strong connections with Waves team.
I wonder how/then waves/Ergo miners/forgers could benefit from such usage. Also matcher decentralization is an interesting issue to look into during integration process.

[mxxxxxx]

We're talking with some outsourcing companies on developing wallet UI and decentralized exchange. 

Maybe you could reuse waves wallet, DEX and matcher at some point in time? Sasha in his recent public speech mentioned that Matcher could be blockchain agnostic and usage on other chains is basically possible use-case. Also you have strong connections with Waves team.
I wonder how/then waves/Ergo miners/forgers could benefit from such usage. Also matcher decentralization is an interesting issue to look into during integration process.

Ergo`s decentralized exchange doesn`t require a matcher https://github.com/ScorexFoundation/sigmastate-interpreter/tree/11004c58f3f86aa51f60aaeb060c3e8da0c6d146/src/test/scala/sigmastate/utxo/examples but different protocols could be built on top of the atomic exchange, transactions creating both boxes could be sent off-chain to a matching service, and be posted on the blockchain along with the exchange transaction. Atomic swaps, between Ergo and Waves, will be possible. Ergo is a completely separate and independent platform.

[mxxxxxx]

Transcript: "Turing completeness" #ScalingBitcoin

https://twitter.com/kanzure/status/1048407690072875008

https://twitter.com/ScalingBitcoin/status/1048403651318824962

Slides and presentations

https://tokyo2018.scalingbitcoin.org/presentations

Direct video link

https://twitter.com/ergoplatformorg/status/1048470929922318337

[mxxxxxx]

"Can you validate cryptocurrency transactions without storing GBs of validation state? Our paper with collaborators from UC Berkeley and Ergo Platform on stateless clients for UTXO-based and account-based cryptocurrencies is now online"

https://twitter.com/chbpap/status/1051506686173868033

[kushti]

1.7 is under review and testing. It contains networking code refactoring & storage fee implementation.

Unlike most of cryptocurrencies, a coin can not live forever and for free in Ergo: for each block and each byte of a coin (aka unspent output or a box in Ergo jargon), a coin holder needs to pay according to a price coefficient K (cost of storing of a byte in a current active state per block) after 4 years, if a coin was not moved before this time. After the timeout, a miner can charge the storage fee, but needs to re-create a coin with decreased value(if storage fee charged was  no more than coin value, otherwise, the miner can destroy the coin fully). If coin is moved before the deadline, there's no any mandatory payment: we assume that fee market will get how to charge fairly.   


PoW code is mostly ready.

The last brick, voting system (miners voting to readjust parameters like block size etc) is to be started in coming days! So I guess we can launch Testnet 2.0 around Nov 1st. Testnet 2.0 will be conceptually close to the mainnet.

[mxxxxxx]

1.7 is under review and testing. It contains networking code refactoring & storage fee implementation.

Unlike most of cryptocurrencies, a coin can not live forever and for free in Ergo: for each block and each byte of a coin (aka unspent output or a box in Ergo jargon), a coin holder needs to pay according to a price coefficient K (cost of storing of a byte in a current active state per block) after 4 years, if a coin was not moved before this time. After the timeout, a miner can charge the storage fee, but needs to re-create a coin with decreased value(if storage fee charged was  no more than coin value, otherwise, the miner can destroy the coin fully). If coin is moved before the deadline, there's no any mandatory payment: we assume that fee market will get how to charge fairly.   


PoW code is mostly ready.

The last brick, voting system (miners voting to readjust parameters like block size etc) is to be started in coming days! So I guess we can launch Testnet 2.0 around Nov 1st. Testnet 2.0 will be conceptually close to the mainnet.

https://twitter.com/ergoplatformorg/status/1052286285069475840

[mxxxxxx]

On 17.11, Ergo Platform co-founder, Alexander Chepurnoy will be presenting "Edrax: A Cryptocurrency with Stateless Transaction Validation" at BlockSEA 2018: The 1st Workshop on Blockchain and Sharing Economy Applications in Singapore

https://twitter.com/ergoplatformorg/status/1054416576202579968

[mxxxxxx]

Testnet 1.7 with the new model of cryptocurrency fees released. The PoW code is mostly ready, miners voting to readjust system parameters in the works. Testnet 2.0/mainnet prototype in November.

https://twitter.com/ergoplatformorg/status/1054720887885303813

https://github.com/ergoplatform/ergo/releases/tag/v1.7.0

[johnantony]

When will be ergo add to new exchange, it is very hard to accumulate it on waves platform

[mxxxxxx]

"We're delighted to announce that Vasily Kharin will join our speaker roster for the upcoming on the chain workshop! Vasily will be talking about Autoleakus, a practical non-outsourceable proof-of-work protocol."

https://twitter.com/1nst1tute/status/1055770288414253056