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ERGO is my secret bag of joy, once it hits major exchanges things will get interesting... Whats your thought's.....

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by COINS NEWS 180 Views

In short, Ergo combines some of the best aspects of Bitcoin with the best of Ethereum . It describes itself as a blockchain protocol "built to be an efficient and secure financial contracts platform with radically new DeFi functionality." (Decentralized finance (DeFi) is an umbrella term for various applications that cut the middleman (banks) out of various financial transactions.)

Ergo uses a similar mining model to Bitcoin to create and validate new coins. But it limits the size of the computers that can mine, so there's no danger of creating the same carbon-intensive mining farms we've seen with Bitcoin.

Ergo is a programmable blockchain like Ethereum. This means, among other things, that it can host decentralized applications (dApps). But, unlike Ethereum, it doesn't charge gas (transaction) fees.

Ethereum's gas fees change depending on how congested the network is, so it's difficult to predict the costs of dApp development. In contrast, coders know exactly how much it will cost to develop their dApp on Ergo's network.

Ergo has smart contract capabilities (tiny pieces of self-executing code that sit on the blockchain). And its coding language, Ergoscript, makes it possible to create more complex, and more secure financial contracts. This could make a big difference to the decentralized finance and stablecoin industries. Once Ergo makes its way to major exchanges i think this coin will gain the traction it deserves...

Edit: Store, Send and Receive ergo in Yoroi Wallet is probably the easiest option...

Edit 2 : For the people asking how to buy:

The 2 best options are CoinEx and KuCoin.

CoinEx doesnt need KYC, just make an account and easiest way to buy Ergo from there is to send USDT or whatever coin you want from Binance or coinbase. I used to send ALGO, ADA, XLM, VET, USDT to coinex, all came fast, swapped the coins with USDT and bought Ergo with it. Its very easy.

KuCoin will need KYC for deposits. In the Netherlands you can use iDEAL to buy Bitcoin with Euro, and you can buy Ergo with Bitcoin. You can also swap with USDT, you have a lot of possibilities. I don't know if you can use debit cards from other countries too, but credit card works fine.

submitted by /u/newbonsite
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