Ergo (ERG) is a next-generation Proof of Work smart-contract platform that enables new models of financial interaction. It is built on the Extended UTXO model, which allows for more complex programmability and the creation of Turing-complete contracts. ErgoScript, its native scripting language, supports non-interactive zero-knowledge proofs, enhancing user privacy. The platform is designed to be secure, accessible, and decentralized, with a focus on long-term survivability and self-amendability. Ergo's Proof of Work algorithm, Autolykos, is memory-hard and ASIC-resistant, making it friendly to GPU miners. The total supply of ERG is capped at under 100 million, with a decreasing block reward over time.
The Ergo (ERG) cryptocurrency is used as a means of exchange and as a utility token to pay for transaction fees and execute smart contracts on the Ergo platform. It is also used for staking and governance purposes within the network.
To store Ergo (ERG) tokens securely, you can use various wallets and methods. Here are some options:
SAFEW (Simple and Fast Ergo Wallet):
- This is a web extension wallet that offers several features, including token minting, Ledger integration, and seamless interaction with ErgoDEX. It is available for download on GitHub and can be installed on web browsers like Google Chrome and Firefox.
Ergo Wallet App:
- This is a mobile wallet that provides a cold storage function, making it a secure option for storing ERG tokens. It is available for both iOS and Android devices.
Nautilus Wallet:
- This is a popular wallet for storing ERG tokens. It is available on both desktop and mobile devices and is known for its user-friendly interface and security features.
Hardware Wallets:
- Ledger hardware wallets can be used to store ERG tokens, although there is no official support yet. You can side-load Ergo on a Ledger Nano S (not X) for added security.
Cold Storage:
- For long-term storage, you can use a cold wallet, which involves recording your private key and hiding it securely. This can be done using a paper wallet or a metal plate, ensuring that the key is not digitally stored and is protected from theft or loss.
ErgoCube:
- ErgoCube offers a range of wallets that support ERG tokens, providing fast, reliable, and secure transactions.
Remember to move your ERG tokens periodically to avoid storage rent fees, which are charged after four years of inactivity.
To buy Ergo (ERG) tokens, follow these steps:
- Create an ERG Yoroi wallet to store your tokens securely.
- Buy a stablecoin like USDT on a preferred exchange, such as Binance, Changelly, or Bitrue.
- Transfer the stablecoin to an exchange that supports ERG trading pairs, such as BiKi, KuCoin, or CoinEx.
- Trade the stablecoin for ERG tokens on the exchange.
- Transfer the ERG tokens to your Yoroi wallet for safekeeping.
Alternatively, you can use services like Changelly or Kriptomat, which allow you to buy ERG directly with a credit or debit card, bank transfer, or other payment methods.
