Foundation research

Co-presented by the Ergo Foundation and

Singapore, Singapore, April 20, 2022 (GLOBE NEWSWIRE) — Ergo Hackathons have become a main and defining feature of the community over the past year. In a short time, ErgoHacks have helped create tools and dApps that are now key parts of the Ergo ecosystem infrastructure. Although these events started out as competitions, one of the biggest results has been the retention and expansion of community developers actively working to build DeFi on Ergo.

For the next ErgoHack, we are pleased to announce that the Ergo Foundation and ErgoPad (Ergo’s IoT launch pad) are teaming up to present this event over a three-week period. The program for this hackathon will focus on the first week of ideas and proposals, followed by a two-week window where participants will develop, make improvements and build prototypes. As in the past, the competition will welcome solo and team participants (up to 6 people in the group) on the Ergo Discord server. There, participants can chat with mentors and find other possible teammates (if they are looking for additional members).

Hackathon participants will be free to pursue and build projects spanning a variety of DeFi use cases. However, this time, the event will not only focus on new projects, but will also encourage proposals to improve pre-existing ecosystem projects. Accordingly, we invite applications from developers, entrepreneurs, and professionals in other fields who have ideas they would like to pursue. If you are new to Ergo and Ergoscript, we are happy to announce that DeCo (formerly ErgoLearn) will be an active partner in providing teaching materials for their online courses. For more information about DeCo and the classes they offer, please visit their Discord server.

As a former participant of ErgoHack II, ErgoPad is an ideal partner to co-organize ErgoHack Fest. ErgoPad encourages the growth and development of the ecosystem by offering investors and developers the opportunity to come together to fund the development of new projects. When ErgoPad hosts an IDO to help developers raise capital, investors get access to the project on the ground floor. ErgoPad has its own token, allowing holders to access different levels of investment opportunities for new projects. For more information on ErgoPad, please visit their website.

Are you ready to build the future of blockchain? Please visit the ErgoHack website for more information and submit your application here.

Price

1st – 10,000 SigUSD + $100,000 ERGOPAD

2nd – 6,000 SigUSD + $50,000 ERGOPAD

3rd – 2,000 SigUSD + $30,000 ERGOPAD

Additional prizes include several honorable mentions worth 200 SigUSD and 100 ERGOPADs for each active member.

Ergonomic platform

Like Bitcoin, Ergo is a Proof of Work blockchain developed on the UTXO model. However, Ergo is called an extended UTXO blockchain because its native language (ErgoScript) and the application of Sigma protocols enable expressive and intelligent contract functionality. With Ergo, developers are able to design applications that enable thin clients and side chains through the implementation of NIPoPoW (Non-Interactive Proof of Proof of Work). Blockchain allows for things like ring signatures, multi-ring signatures, self-replicating scripts, and advanced optional privacy features.

The blockchain was started as a platform for ordinary individuals and its founders were inspired by the first principles of crypto. Ergo is a direct response to legacy institutions and the weaponization of money through traditional finance. True to its founding ideals, Ergo had a fair launch with no pre-mine and no pre-allotment of tokens to founders or investors.

The Ergo Manifesto and the desire to fight against socio-economic injustices are the driving forces behind the development of Ergo’s dApps. Tools built on Ergo are intended to help empower the average citizen while promoting decentralized systems that ensure trustless executives.

For more information and to dive deeper into Ergo, please see the following ecosystem overview.

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