Ergo (ERG) crypto: Things you must know about this cryptocurrency – Kalkine Media
The year 2022 has been horrendous for cryptocurrencies as most of the top tokens have witnessed huge drops in their prices. Geopolitical tensions, skyrocketing inflation, and higher interest rates have made riskier assets like cryptos less appealing as investments.
However, the crypto world witnessed some respite as cryptocurrencies rose for the second day as investors doubled down chan…….
The year 2022 has been horrendous for cryptocurrencies as most of the top tokens have witnessed huge drops in their prices. Geopolitical tensions, skyrocketing inflation, and higher interest rates have made riskier assets like cryptos less appealing as investments.
However, the crypto world witnessed some respite as cryptocurrencies rose for the second day as investors doubled down chances of the interest rate hike by the Federal Reserve in an attempt to curb rising prices. The global crypto market cap is at US$928.83 billion, up 4.02% over the past day, at the time of writing. Among the many cryptos which are trading higher, one of them is Ergo crypto.
Hence, this article talks about Ergo crypto in detail.
Source: © Alexanderushkevich | Megapixl.com
Introduced in 2019, Ergo boasts of being a next-generation smart contract platform that aims to provide economic freedom via secure and decentralised financial tools to the common man.
It is a next-generation Proof of Work smart-contract platform with an energy-efficient and stable mining protocol and aims to provide an easy and secure way to execute financial contracts. Here, it must be noted that even Bitcoin makes use of the PoW model, which has raised environmental concerns as it consumes massive amounts of energy. However, Ergo has made modifications to minimise these issues. Autolykos, the platform’s mining algorithm, makes Ergo a more efficient PoW model.
Moreover, Ergo’s platform follows a research-driven approach, i.e., its team does plenty of research before code implementation, which leads to better solutions to the problems.
Further, the crypto boasts a non-custodial decentralised exchange on its platform, thus allowing its users easy transferability between Ergo and Cardano networks. Also, users are rewarded when they use DEX and support the ErgoDEX ecosystem.
Its native coin is ERG. Presently, there are nearly 32 million ERG coins in circulation, while the maximum supply is 97.74 million coins. At the time of writing, the crypto is witnessing a rise of 8.45% over the previous day and is trading at US$1.76.
Interested investors can purchase Ergo crypto from most of the top cryptocurrency exchanges. Some of them are KuCoin, Gate.io, CoinEx, Hotbit, and many more.
Bottom Line
Though tempting, cryptocurrency investment is a high-risk gamble, which may pay off if invested with caution and due diligence. While it has produced jaw-dropping results for some, it has resulted in huge losses for many. Hence, in-depth research and a thorough understanding of the desired crypto’s white paper must be done before taking a dip into the vast, volatile ocean of cryptocurrencies.
Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.
