Ergo update, 14 May 2020: New exchange, wallet and first mining pool with collaterals!

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Ergo Team

14 May, 2020

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We have three great new developments to announce to the Ergo community, all of which will boost our user base and decentralisation!

We have not just one but three outstanding developments for the Ergo ecosystem to announce! Together, these will make it easier than ever before to acquire, trade, store and spend ERG – and will open up a huge new potential community of users, developers and hodlers.

Coinsbit listing and airdrop

Firstly, ERG has been listed on Coinsbit: a major trading platform that enables fiat deposits and withdrawals via debit and credit card. Ergo will be listed in three pairs:

  • ERG/BTC
  • ERG/USDT
  • ERG/USD

We anticipate this will bring new traders and liquidity to the currency. The Coinsbit Telegram group has around 120,000 members, so this is a great opportunity to welcome new people to the community.

To celebrate this landmark development and promote Ergo to new traders, we are holding a joint airdrop. The conditions are as follows:

  • Join Ergo’s Telegram chat: https://t.me/ergoplatform
  • Register on Coinsbit and complete KYC
  • Send your Coinsbit username to @Coinsbit on Telegram
  • Receive your 5 ERG airdrop!

The airdrop will run for just 10 days and is limited to the first 5,000 participants, so don’t delay!

Cypra wallet

The second major development is that Ergo will be integrated with the Cypra wallet. This is a fantastic multi-currency desktop and mobile wallet. It’s secure, open-source and non-custodial – making it super easy and convenient to deal with your coins!

Cypra is designed to address the worst shortcomings of conventional wallets, exchanges and payment services. It enables users to spend their crypto on real-world purchases with minimal friction and the lowest crypto-to-fiat conversion fees.

You can find out more in Cypra’s one-page summary. Check it out, keep your ERG safe and user them in a variety of cool ways!

Ergo mining pool

Lastly, we will have Ergo’s first censorhip resistant mining pool with collaterals!

This is a really interesting development, since Ergo includes protection against ordinary pools by design. This is a feature implemented to improve decentralisation and accessibility for smaller, regular miners.

Jason, the pool owner, has created a decentralised pool using a smart contract that ensures miners who connect to the pool get paid. This is an intriguing example of smart contracts being used to bypass or change the consensus of a platform. It’s DeFi and community participation in action.

There are plans to implement the Stratum protocol and efficient mining software after the pool launches.

If you’d like to find out more about the theory behind pool mining on Ergo, we have an academic paper that was presented at Financial Cryptography 2020.

That’s all for now – but stay tuned, because we have more developments on the way!

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