Ergo (EFYT)

Ergo (EFYT) is a next-generation smart contract platform that aims to ensure the economic freedom of ordinary people through secure, accessible, and decentralized financial tools. It was launched in 2019 with a fair start, as there was no initial coin offering, pre-mine, or pre-allocation of tokens to any team members or venture capitalists. This sets Ergo apart from other smart contract platforms as it offers a more equitable distribution of funds, with 95.57% of tokens allocated to the public. This alternative economic model enables more innovative and targeted implementations that conventional banking cannot match, including smart contract-powered microcredit facilities and Local Exchange Trading Systems (LETS).

Privacy is an essential aspect of Ergo, as it believes that individuals should be able to protect their autonomy. It employs ?-protocols, a class of efficient zero-knowledge protocols, to provide optional privacy for users. This allows them to create boundaries and spaces, enhancing their financial interactions and privacy. Ergo’s secure and rich scripting language, ErgoScript, combined with flexible and powerful zero-knowledge proofs, ensures the privacy and security of users’ transactions.

Ergo is research-led and takes a real-world focus, incorporating peer-reviewed academic research into cryptography, consensus models, and digital currencies. It supports real-world financial agreements, offering predictability and known costs for decentralized applications (dApps). Ergo’s intelligent design allows for Turing-complete smart contracts and efficient execution of sophisticated tasks. Additionally, Ergo prioritizes accessibility and security for non-mining users, introducing Non-Interactive Proofs of Proof-of-Work (NIPOPOWs) that enable confident transaction verification without downloading the full blockchain.