What is Ergo? - ERG Crypto Combining Bitcoin & Ethereum Explained
1.2 هزار بار بازدید -
8 ماه پیش
-
This video answers the questions:
This video answers the questions: What is Ergo? What is Ergo ERG Token? How does Ergo Blockchain work? What are the key features of Ergo Cryptocurrency? - Ergo ERG Crypto Blockchain combining the best features of Bitcoin and Ethereum will be explained, reviewed, and presented.
SUBSCRIBE FOR MORE CONTENT: @universityofcrypto
Timestamps:
0:00 Introduction
0:13 What is Ergo?
0:49 How exactly does Ergo work?
1:57 Key features of the Ergo platform
3:12 Video end
Ergo (ERG) is a safe blockchain with features for decentralized finance (DeFi). Ergo accomplishes this by incorporating elements from Ethereum (ETH) and Bitcoin (BTC), the two most popular cryptocurrency projects. The project employs Ethereum-style smart contracts for its DeFi capabilities, and it uses the Proof-of-Word (PoW) consensus algorithm from Bitcoin to protect the network.
Ergo uses a modified version of the Bitcoin mining protocol called "Autolykos" for its mining process. The Autolykos protocol is more energy-efficient since it is more resilient to both huge mining pools and application-specific integrated circuit (ASIC) miners. Additionally, Ergo restricts the mining capacity of each node in order to lessen the detrimental effects of Bitcoin's PoW algorithm on the environment.
The native token of Ergo is known as ERG. The project launched fairly, without doing any initial coin offerings (ICOs). Ergo chose a proof-of-work (PoW) launch strategy instead, requiring users to either mine or purchase the tokens on a secondary market in order to obtain them. These ERG tokens were distributed by the project via block rewards. The initial two years' block awards were set at 75 ERG (2019 to 2021). ERG block incentives will gradually drop after the first two years, reaching zero eight years after debut, and then reaching a maximum of approximately 97 million in total. By then, storage and transaction fees will be the primary source of rewards for miners.
Not only in this video various crypto topics will be explained. Remember to leave a like, and subscribe to the channel for more materials like this.
SUBSCRIBE FOR MORE CONTENT: @universityofcrypto
Timestamps:
0:00 Introduction
0:13 What is Ergo?
0:49 How exactly does Ergo work?
1:57 Key features of the Ergo platform
3:12 Video end
Ergo (ERG) is a safe blockchain with features for decentralized finance (DeFi). Ergo accomplishes this by incorporating elements from Ethereum (ETH) and Bitcoin (BTC), the two most popular cryptocurrency projects. The project employs Ethereum-style smart contracts for its DeFi capabilities, and it uses the Proof-of-Word (PoW) consensus algorithm from Bitcoin to protect the network.
Ergo uses a modified version of the Bitcoin mining protocol called "Autolykos" for its mining process. The Autolykos protocol is more energy-efficient since it is more resilient to both huge mining pools and application-specific integrated circuit (ASIC) miners. Additionally, Ergo restricts the mining capacity of each node in order to lessen the detrimental effects of Bitcoin's PoW algorithm on the environment.
The native token of Ergo is known as ERG. The project launched fairly, without doing any initial coin offerings (ICOs). Ergo chose a proof-of-work (PoW) launch strategy instead, requiring users to either mine or purchase the tokens on a secondary market in order to obtain them. These ERG tokens were distributed by the project via block rewards. The initial two years' block awards were set at 75 ERG (2019 to 2021). ERG block incentives will gradually drop after the first two years, reaching zero eight years after debut, and then reaching a maximum of approximately 97 million in total. By then, storage and transaction fees will be the primary source of rewards for miners.
Not only in this video various crypto topics will be explained. Remember to leave a like, and subscribe to the channel for more materials like this.
8 ماه پیش
در تاریخ 1402/09/05 منتشر شده
است.
1,299
بـار بازدید شده