Waves and Ergo have announced a partnership in late 2020 to boost interoperability on DeFi platforms.
After months of hard work, we’re happy to announce that we’ve completed the cross-chain tests and the Gravity-Ergo-Proxy contracts are almost complete. This partnership will help Ergo access different chains like the Binance Smart Chain, Ethereum, NEO, Solana, thanks to the use of Gravity Network. At the same time, other platforms will use the complex and rich design of Ergo to take new dApp ideas to their chains.
Gravity.Tech: The Oracles Network
The Gravity Protocol is a blockchain agnostic oracles network that connects different blockchains in a single unified structure. It’s a technology developed by Waves Tech to foster cross-chain communications. It focuses mainly on creating decentralized oracles networks.
Back in 2020, Ergo’s core developer Alex Chepurnoy (Kushti) explained that:
Integration with Gravity is more than an interesting technical challenge, it offers an opportunity to open the Ergo blockchain to a large number of digital assets from the blockchain networks integrated with Gravity, which will create a stable foundation for the development of DeFi on Ergo.
Gravity does not rquire a separate token, which makes it unique as a protocol. This feature ensures its true decentralization and avoids profit-minded speculative actions that are far too common in the cryptosphere. Gravity is a cross-chain oracle, connecting several blockchains and passing event between them. The Gravity network works with the economies of the native tokens of the public blockchains integrated with Gravity, rather than creating new tokenomics that are, for most cases, completely pointless.
On top of Gravity, there will be several applications. The first one is SUSY Gateway. Simply, Susy enables the user to send assets to other chains. For example, you can send SigmaUSD or ERG or any token on ERG, directly to an ETH address. Tokens will be locked in the source chain, issued on the destination chain, and sent to receiver. Think of it like you can send oracle pool's data to ETH network, lots of applications to be found in future.- (Ah remind me why chainlink needs token then) mhs_sam
From an economic standpoint, users of Gravity Network won’t be subject to volatility within the network token that governs it. As so, we hope to eliminate the financial risk factors for the tech builders and open the gates to a smooth functioning open financial system.
Ergo, Waves, and Gravity
Ergo developed their eUTXO model on ErgoScript, a rich and robust language for DeFi applications. However, that’s sometimes an obstacle to integrating with different blockchain networks. A blockchain agnostic network like Gravity would be helpful to deploy Ergo Contracts to collaborating networks, erasing barriers that developers face in order to adopt different languages and create cross-chain dApps.
Ergo’s Oracle Pools have also been embodied by Gravity Protocol. The partnership agreement was also an essential step in connecting the Waves and EMURGO Research & Development departments, pushing forward eUTxO research for the ecosystem as a whole. Ergo and Waves have always had a strong relationship, with Ergo’s First Year Token initially being released on the Waves blockchain. Ergo Core Developer Alex Chepurnoy and Sasha Ivanov, the founder of Waves, had collaborated in the past, and Waves was always a firm supporter of Ergo’s development.
Aleksei Pupyshev, Waves Tech evangelist and author of Gravity stated:
So far, the concepts implemented in Ergo seem complex, multi-layered algebraic abstractions and are somewhat difficult for developers to grasp, however, it’s precisely this radically new perspective that helps create innovative protocols and might be essential in solving problems in decentralized systems and improving them, be that architecture of a blockchain network or a network of oracles.