Ergo AMA Wrap-Up, December 17

Ergo Platform

December 20, 2021

At the beginning of his address, Dan updated the community on the status of new exchange listings. He revealed that the team is hard at work negotiating listings on several Tier 2 exchanges and that there will be more to discuss shortly after the paperwork is finalized. In addition to these exchanges, Dan explained that there are several bridges actively in development that will facilitate listing ERG on major decentralized exchanges (DEXs). The deployment of ERG on these new exchanges is part of the team's strategy towards getting Ergo listed on Tier 1 exchanges. By increasing the number of listings, ERG increases volume and liquidity and Dan reminded the community that this goal is tantamount to getting ERG listed on Tier 1 exchanges.

With regards to rebranding and marketing efforts, the team is actively working on redesigning the Ergo Platform website so that it is cleaner, more interactive and offers a smoother user experience. In tandem, Ergo is developing new products for future marketing campaigns. Dan explained that they are designing education, research and business products that are more “digestible and interesting” to the average person. By building these products, the goal is to establish a gateway to exposing more people to Ergo and the community.

Educational initiatives could include partnerships with a major university or school to develop products together. Dan revealed to the community he was scheduled to have a call with a major university shortly after the AMA to discuss this type of venture. He also discussed how there is work underway to develop more payment processing tools on Ergo as that is a type of product that is easy to sell and market. By attracting more business influx, Ergo engages a more diverse demographic and increases exposure to the ecosystem.

In his closing comments, Dan updated the community on the work of the PR firm that has been retained by Ergo. They have prepared a detailed press and marketing plan for the team that includes major media, television and online interviews. This work will help to create even wider exposure for Ergo and will be something for the community to keep an eye out for. 

When Alex addressed the audience, he spent a great deal of time talking about the importance of security and the recent log4j vulnerability that has come to light. He discussed how Java applications in particular have been compromised from this vulnerability but that he was pleased to say that Ergo’s robust security had not jeopardized any applications. Alex mentioned that security has been and will continue to be a high priority for Ergo. So much so that he announced ErgoHack III will focus on developing and building tools and dApps that address privacy and security on the blockchain. More details on ErgoHack III will be made available to the community in the next few days but for those who are interested in participating, Alex suggested they start to familiarize themselves with ErgoScript. He shared that one of the new community projects, ErgoLearn, offers weekly sessions and course material to better understand the technical elements of Ergo. 

Alex discussed Ledger wallet support and other new wallets within the ecosystem, as well as updates on fixes for Yoroi. He reiterated that the dApp connector for Yoroi is coming and that it will help to unlock more functionality within ErgoDEX. Continuing to discuss developments in the ecosystem, Kushti discussed the Paper Wallet feature on Ergo as well as the new joint spending tool in development: ErgoTeam. 

As he wrapped up his opening comments, Alex talked about protocol upgrades and reminded the community about the soft fork proposal to redesign Ergo’s emission schedule. He said there will be ongoing conversations and that he welcomed all the different opinions of developers and miners in regards to the soft fork proposal and other protocol discussions. 

AMA Questions and Summary

The following is a summary of questions posed by the audience during this AMA. Last week Dan and Alex answered questions on Ergo’s emission schedule, marketing in Africa, identity services on blockchain, business adoption, the UTXO alliance and much more. Alex discusses how he truly enjoys conversing with the community and finds the interactions intellectually stimulating while Dan also introduces his cat, Leo, and the shenanigans he gets into. To view the full AMA, please head over to Ergo’s Youtube channel: 

Are there any updates on proposed emission changes? Have any models been run to see how the proposed changes may affect the network?

Answered by Alex “Kushti” Chepurnoy

  • We can make some assumptions on the storage rent component
  • If talking about network security, it depends on external factors
  • Talked about how it is difficult to predict price changes
  • With Ethereum moving to Proof of Stake, it is expected that Ergo will attract a lot more network hashrate
  • Can assume a lot of scenarios but how they will work in practice is hard to know
  • For long term security, it’s maybe better to have constant rewards for miners
  • To give time for the storage rent component to grow

In regards to the emission proposal, would it help to have visuals?

Answered by Dan Friedman

  • Sounds like something we could potentially do for the community
  • Offer a visual chart on how this will work
  • Asked Kushti if this is possible

Answered by Alex “Kushti” Chepurnoy 

  • Yes
  • We can do that
  • Need to have a few community chats about this
  • Likely available on social media channels

Can you share the secret hiding behind Alex’s smile? What secrets are you hiding?

Answered by Alex “Kushti” Chepurnoy 

  • Jokingly replied: “All the secret schemes are starting with commitments.”
  • Continuing in joking tone: “No need to remember any secrets”

Dan, speaking of business adoption. How should a business decide whether to go with Ergo or Cardano for their business solution, given the fact that both are eUTXO and have similar tools (NFT, smart contracts, etc)?

Answered by Dan Friedman

  • Doesn’t see Ergo and Cardano as competing blockchains
  • Both have their special niche
  • Used analogy: “Ergo is a sports car and Cardano is a luxury SUV”
  • Each one has their uses
  • Ergo offers more compact solutions scalable to small and mid-sized businesses
  • From there, you can a symbiotic relationship with Cardano
  • For Dan, Cardano is more of a blockchain for large scale solutions; something like a national registry, international marketplace
  • These solutions can use both blockchains
  • Scope and scale of functionality matters when designing products for both blockchains
  • Not competitors

What would be your main objectives of an eventual cooperation with another UTXO PoW blockchain?

Answered by Alex “Kushti” Chepurnoy 

  • Talking with some already
  • Recording a podcast with Komodo in the next couple of days
  • Talking regularly with them
  • As well as CCX
  • Talked about the UTXO Alliance and BPSAA
  • Thinks it’s always good to talk about these alliances and how they can help Ergo’s users

Dan, what about this FUD frenzy against eUTXO blockchains directed by FUD muffins?!

Answered by Dan Friedman

  • Dan refers to online trolls obsessing over UTXO as FUD Muffins
  • They don’t raise valid arguments when they criticize UTXO 
  • This is what happens when new tech enters a market that already has established “paradigms”
  • False info and smear campaigns cause disinformation
  • Committed to addressing misinformation and educating

Is there any marketing planned for Africa?

Answered by Dan Friedman

  • Yes
  • Would like to target Africa for education and payments
  • Believes there is a lot of demand for these products in Africa
  • Will definitely engage with the African community

Answered by Alex “Kushti” Chepurnoy 

  • Mentioned Chris Ray and his work for communities in Kenya and Nigeria 
  • ErgoLend project offering lending services

Does digital identity make sense on Ergo?

Answered by Alex “Kushti” Chepurnoy 

  • Yes
  • A lot of identity things on Bitcoin failed
  • Bitcoin is protecting itself from dust
  • In Ethereum, it is very expensive
  • In Ergo, this is not a problem
  • Designed for identity and other records to be able to be written on the blockchain
  • Believes that blockchain and Ergo’s support for light clients is very efficient and useful for identity services
  • Easy to do identity on Ergo

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