[PoW] Ergo - Welcome to Smart Money!

[kushti]

Ergo is simple, solid and innovative cryptocurrency!

* While incorporating cutting-edge new ideas, Ergo’s foundation is a conservative Proof-of-Work cryptocurrency with limited supply. It aims to be as simple as Bitcoin wherever possible, though is not a Bitcoin fork but an entirely new cryptocurrency designed and implemented from scratch.

* Ergo has solid design specifications based on scientific research, drawing on a number of published academic papers (https://ergoplatform.org/en/documents/). At the same time, it also focuses on practical use cases. Ergo is designed and implemented by a team of experienced devs and researchers, with publications and PhDs in cryptography, compiler theory, blockchain technology, and cryptographic e-cash. The team also has a solid background in core development with such cryptocurrencies and blockchain frameworks as Nxt, Scorex and Waves.

* Ergo offers a series of innovations, including:
   - Extended UTXO model, offering the ability to write complex financial applications. Community members are currently implementing a DEX, and there are already applications for oracles and p2p crowdfunding, as well as example contracts for bonds, auctions, p2p interest-free loans, mutual credit systems, etc. 
   - Built-in support for complex signatures and cryptographic protocols via an efficient class of zero-knowledge proofs-of-knowledge (Sigma protocols). As an immediate result, ring,
threshold and composable signatures are easy to implement out-of-the-box. For applications, Ergo devs have already proposed a simple non-interactive mixing scheme called ErgoMix.
   - Custom token support at the core level (similar to RavenCoin).
   - Storage rent to stabilize mining income in the long term.
   - New Proof-of-Work scheme, Autolykos – a variant of Equihash with better ASIC-resistance and even a degree of pool-resistance.

Ergo is a community-driven project, with conversations occurring over Discord (https://discord.gg/uhr6cq), Telegram (https://t.me/ergoplatform) and the forum (https://www.ergoforum.org/).

To get Ergo, visit supporting exchanges (https://ergoplatform.org/en/exchanges/) or mine ERG with an NVidia or AMD GPU.

Please visit our welcoming and vibrant community to HODL and BUIDL together!

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[1715494447]

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[kushti]

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[kushti]

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[eastendstudios]

Hello, interesting project!

Which tokens will be supported on ERGO dex?

[kushti]

Hello, interesting project!

Which tokens will be supported on ERGO dex?

thanks for the kind words!

Community members got a lot of DeFi schemes, some of them are involving synthetics, e.g.

"Bonds based on Ergo (or the “Yield protocol”)" https://www.ergoforum.org/t/bonds-based-on-ergo-or-the-yield-protocol/128
"Interest-Free Loan Contract" https://www.ergoforum.org/t/interest-free-loan-contract/67

+ I can imagine that after IEO decline we'll have a new wave of experimentation with projects funding on-chain. Hopefully Ergo innovations will play out here. 
+ Maybe with bigger community we'll have externally provided stablecoins (USDT/USDC/tUSD, USDN at least)

[Cassius]

Good to see another solid project from some old-timers. Sigma protocols sound very flexible for blockchain applications, I'm curious why no one else has done this yet.

[kushti]

Good to see another solid project from some old-timers. Sigma protocols sound very flexible for blockchain applications, I'm curious why no one else has done this yet.

Sigma protocols (aka Generalized Schnorr Proofs) are used in some cryptocurrencies. Bitcoin is going to adopt Schnorr signatures (Schnorr sig is as simplest sigma-protocol, the Schnorr protocol turned out into a signature scheme), ZCoin is using its "Sigma Privacy" which actually some specific sigma-protocol for log-sized ring signature.

However, what's Ergo is doing is really unique. It is using composability of sigma protocols and also similarity between statements to be proven with them and boolean predicates. Thus Ergo allows to mix crypto statements and predicates on blockchain state. Simplest example:

((HEIGHT <= 1000) AND PK1) OR ((HEIGHT > 1000) AND (PK1 OR PK2)

where HEIGHT is blockchain height during script evaluation

Then if transaction is trying to spend  a coin protected by the script, and height is 2000, after reduction the script is turned into PK1 OR PK2 means "proof (i.e. signature against spending transaction bytes) for a secret key corresponding to public key PK1 or public key PK2 is valid".  Composability of sigma-protocols preserve zero-knowledge, thus from the signature it is not know which secret actually was used (corresponding to PK1 or PK2). Thus this is a simplest ring signature.

A lot of work was done to get composable sigma-protocols implementation, papers are silent about that. Thankfuly, a Boston University Prof. helped us to get a working and secure scheme (not rocket science but solid crypto-engineering though).

[GTTIGER]

Lol at the lack of interest for a good project. Makes me laugh every day. Guess people only like moon boy coins now.

[kushti]

Lol at the lack of interest for a good project. Makes me laugh every day. Guess people only like moon boy coins now.

Yes, the project is clearly undervalued if we take into account solid research it is based one (first in the space published papers on space-scarce economy aka storage rent economy, stateless clients etc, along with implementations), unique approach to crypto apps support, solid design, and the fact the project has been delivered and successfully survived the cryptowinter.

For wider adoption, devs are now working on applications, such as non-interactive mixer, DEX, and so on, and now it's the best time for crowd-sourced promotion. so please spread the word, join discord, and get developers you know to build on top of Ergo!

[eastendstudios]

Lol at the lack of interest for a good project. Makes me laugh every day. Guess people only like moon boy coins now.

Good projects have very solid chance on becoming moon boy coins ))
I was surprised to see how much was done regarding development during bear market when so many coins that raised tens of millions went or almost went bankrupt, that alone gives me confidence in ERGO

[kushti]

Lol at the lack of interest for a good project. Makes me laugh every day. Guess people only like moon boy coins now.

Good projects have very solid chance on becoming moon boy coins ))
I was surprised to see how much was done regarding development during bear market when so many coins that raised tens of millions went or almost went bankrupt, that alone gives me confidence in ERGO

Thanks! Actually it was hard to launch and then continue to work in the middle of crypto winter. But we were small and super-focused team of experienced guys, and very conservative about spendings ) so we survived, and now time to grow fast!

[eastendstudios]

Lol at the lack of interest for a good project. Makes me laugh every day. Guess people only like moon boy coins now.

Good projects have very solid chance on becoming moon boy coins ))
I was surprised to see how much was done regarding development during bear market when so many coins that raised tens of millions went or almost went bankrupt, that alone gives me confidence in ERGO

Thanks! Actually it was hard to launch and then continue to work in the middle of crypto winter. But we were small and super-focused team of experienced guys, and very conservative about spendings ) so we survived, and now time to grow fast!

#BUIDL during the winter!
I wanted to ask, is it possible to maker tokens on ERGO chain or will all DEFI applications have to use ERG token?

[TheGreatPython]

It seems OP is announcing a new thing in wrong board. I believe this section is only for discussing about altcoins and not for introducing a new altcoin. Even this coin Ergo is already having ANN topic, the way OP presented here is not a right way to do a discussion as it fully sounds like an announcement which I believe strongly against this forum's rules.

I guess OP must be part of the Ergo team as they are having Ergo in their profile's web-page which is usually bounty hunters are do not have. OP must alter the content of their open-post like asking this community's opinion or something else which is definitely will not breach rules of this forum.

[kushti]

It seems OP is announcing a new thing in wrong board. I believe this section is only for discussing about altcoins and not for introducing a new altcoin. Even this coin Ergo is already having ANN topic, the way OP presented here is not a right way to do a discussion as it fully sounds like an announcement which I believe strongly against this forum's rules.

I guess OP must be part of the Ergo team as they are having Ergo in their profile's web-page which is usually bounty hunters are do not have. OP must alter the content of their open-post like asking this community's opinion or something else which is definitely will not breach rules of this forum.

No hard feelings mate! The development of Ergo was started in 2016. So we have two announcement topics already, one PRE-ANN and one ANN. This topic is for free discussions, not announcements. It starts with intro  information about the project. I used to be Nxt core dev back in 2014 and I remember that good thread in this subforum.

[tromp]

  - New Proof-of-Work scheme, Autolykos – a variant of Equihash with better ASIC-resistance

How does it have better ASIC resistance, when Equihash is claimed to have superlinear time-memory tradeoffs (TMTO)
while Autolykos can be solved with no memory and constant slowdown?

IMHO it's closer to Ethash than to Equihash.

[sordum]

Do you have Russian chats? The project's a Russian one, but I didn't find it myself.

[filippounits]

Do you have Russian chats? The project's a Russian one, but I didn't find it myself.

There's a Russian telegram chat here https://t.me/ergoplatformru or the Russian at International Channels over Discord here https://discord.gg/FEmGeGu

[minairia3]

It seems OP is announcing a new thing in wrong board. I believe this section is only for discussing about altcoins and not for introducing a new altcoin.

OP must alter the content of their open-post like asking this community's opinion or something else which is definitely will not breach rules of this forum.

I think the content is the problem. Their project is not a new altcoin its been on the market eversince and from what I read is they intended this thread for discussion. I guess you have a point to edit or alter its content cause it seems like an ann thread. Anyway, just report if its seems not ideal for you.

This topic is for free discussions, not announcements. It starts with intro  information about the project.

I think its clear now. Anyway just hope that no one would report of this announcement same like post as what @TheGreatPython mentioned. Goodluck hoping OP you should be active to discuss and entertain question here. Not just add a thread topic since its a discussion thread right. Anyway good luck with ergo, not really a fan but checking it sometime.

[kushti]

  - New Proof-of-Work scheme, Autolykos – a variant of Equihash with better ASIC-resistance

How does it have better ASIC resistance, when Equihash is claimed to have superlinear time-memory tradeoffs (TMTO)
while Autolykos can be solved with no memory and constant slowdown?

IMHO it's closer to Ethash than to Equihash.

Autolykos is pretty close to Equihash, it is based on k-sum problem , but also adds a signature component for somewhat pool-resistance. Parameters are chosen in order to be much more memory-intensive (and memory-bandwidth intensive) than ZCash's and other popular Equihash coins PoWs.

[tromp]

  - New Proof-of-Work scheme, Autolykos – a variant of Equihash with better ASIC-resistance

How does it have better ASIC resistance, when Equihash is claimed to have superlinear time-memory tradeoffs (TMTO)
while Autolykos can be solved with no memory and constant slowdown?

IMHO it's closer to Ethash than to Equihash.

Autolykos is pretty close to Equihash, it is based on k-sum problem , but also adds a signature component for somewhat pool-resistance. Parameters are chosen in order to be much more memory-intensive (and memory-bandwidth intensive) than ZCash's and other popular Equihash coins PoWs.

Autolykos is very different from Equihash in memory requirements.

Equihash searches for an arbitrary size 2^k subset of indices,
whose corresponding items must xor to 0 (as well as satisfy
other conditions on the ordered binary tree of indices and items).
Memory is needed to sort and combine partial solutions.
Without memory, finding a solution would take longer than the age of the universe.

Autolykos instead generates the possible subsets as genIndexes(m||nonce),
as shown in Algorithm 1 of https://docs.ergoplatform.com/ErgoPow.pdf
The element at an index j is trivially computed as H(j||M||pk||m||w)
No memory at all is required for that.
It could be used to cache the hash computation of elements, but that is at best
a constant factor speedup.