How to Buy Ergo
When it comes to buying crypto, you have a lot of options. Our guide will provide step-by-step instructions on how you can buy Ergo and help you discover other crypto similar to Ergo.
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
The price of Ergo has risen by 2.25% in the past 7 days. The price declined by 0.51% in the last 24 hours. In just the past hour, the price shrunk by 0.07%. The current price is $1.39 per ERG. Ergo is 96.84% below the all time high of $44.06.
The current circulating supply is 58,638,426 ERG.
Blockchain is known for maintaining a safe transaction method using distributed ledger technology without using traditional financial institutions as intermediaries. Encryption and are critical components of the blockchain ecosystem. However, these traits have not proven viable for running a blockchain-based platform on a large scale and for the long term. The cost of network resources, computing power, and data storage is frequently exorbitant. The expense is then passed on to customers as a transaction fee. As a result, blockchain technology is still mostly limited to financial applications, where the advantages of improved security outweigh the disadvantages of higher transaction costs.
To address the issues mentioned above and make blockchain more useful for mass adoption, Ergo envisions the following:
Prioritizing decentralization: Any parties whose absence or malicious activity may compromise the network's security should be avoided.
A platform for contractual currency: Ergo can be used for various purposes, but its primary goal is to make financial contracts more efficient, safe, and simple to implement.
Permissionless and open: The Ergo protocol aims to allow anybody to join the network and participate in the protocol without taking any preparatory steps.
The is an essential part of any blockchain system, and Ergo uses Autolykos, a self-developed unique consensus technology. Ergo developers chose PoW methods for various reasons, including their general study, excellent security assurances, and user-friendliness. Going a step further, Autolykos is memory-based, does not require specialized hardware, and lets ordinary people engage in network security and reward mining.
Ergo aims to be a genuinely decentralized community-driven platform governed by the Ergo Foundation dedicated to:
Promoting continuous development of the Ergo platform protocol
Developing the ecosystem around the Ergo platform
Promoting the use of the Ergo platform and blockchain technology for the greater good
Supporting truly decentralized infrastructure
Supporting the right to privacy as a fundamental human right
Hence, Ergo seeks to be well-suited to develop applications and currency systems as a platform for contractual currency. However, participating in such systems would require using Ergo's native token, ERG, to pay storage, rent, and transaction fees, providing miners with significant continuous incentives to protect the network with sufficient mining power. On the other hand, users will be motivated to acquire, use, and preserve ERGs if they regard Ergo apps as valuable.
is the cofounder of Ergo. He also cofounded smartcontract.com (now Chainlink). Dmitry Meshkov is the cofounder and core developer of Ergo. Previously, he worked as an RD researcher at Input Output Hong Kong (IOHK), developing a blockchain prototype framework. Alexander Slesarenko is an Ergo Foundation board member and a Udmurt State University applied mathematics graduate. The team released the whitepaper on May 14, 2019.
Users with access to commodity hardware can mine ERGO. However, the total supply of ERG is capped at under 100 million. Ergo uses a technique in which a portion of each reward is set aside for development and marketing. The block rewards decrease steadily after the first two years. Block rewards start at 75 ERG and fall to zero over eight years, after which total supply will be fixed.
In addition to transaction fees, miners can now benefit from storage rent costs paid on boxes that have not moved their currency for four years or longer. UTXO refers to the quantity of digital currency left behind after a completed cryptocurrency transaction. There are at least two benefits to this strategy. For instance, it provides miners with a new currency stream once block incentives are exhausted. This is a strong motivation because the network's security depends on mining power and miner involvement. Second, it allows lost coins to be recycled into the Ergo economy.
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The price of 1 Ergo currently costs $1.39.
The current market cap of Ergo is $81.49M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Ergo is $44.06. This all-time high is highest price paid for Ergo since it was launched.
Over the last 24 hours, the trading volume of Ergo is $431.36K.
The current circulating supply of Ergo is 59 million.
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