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Ergo Foundation Announces ErgoHack V: Mining and Minting

Singapore, Singapore, Sept. 14, 2022 (GLOBE NEWSWIRE) — This fall, the Ergo Foundation will host the fifth iteration of the successful ErgoHack series. This last hackathon will take place from October 3 to 20, 2022 and will be co-presented with Flux, Alephium and the Djed Alliance. With the highly anticipated Ethereum merger coming this fall, this ErgoHack aims to inspire developers and entrepreneurs to explore mining and minting related projects with potential for cross-chain development and deployment (e.g., consider how your project could benefit from tools on these other blockchains). Please note that although the theme of the hackathon is about mining and minting, all project proposals are welcome for submission.

As a Layer 1 blockchain, Ergo is one of the most active platforms in terms of development activity – it consistently ranks among the top in this category on Stack. Ergo hackathons have become a defining feature of the platform over the past year, and previous ErgoHacks have produced some of the most widely used dApps in the ecosystem today. With the upcoming Ethereum merger, there will be countless miners looking for new crypto to mine, and Ergo is poised to welcome many of these miners. The Ergo platform is ideally situated to offer miners several technological innovations in the proof-of-work mining industry (i.e. storage rental, governance responsibilities, etc.). Ergo is already starting to see an increase in hashrate migration with the network hashrate up over 250% since the start of August.

With an eye on the future of Proof of Work mining, ErgoHack V: Mining and Minting will primarily focus on building dApps, tools, and infrastructure to further appeal to miners who will be looking for new crypto to mine. after the Ethereum merger. Those interested in participating in this exciting opportunity are encouraged to visit the ErgoHack website for more details on how to submit an application. The ErgoHack V prize pool is also the largest to date! Prices include:

1st prize – 10k SigUSD

2nd Prize – 6k SigUSD

3rd Prize – 2k SigUSD

Additional co-presenter prizes will include 1800 DACAU (Djed Alliance Contribution Accounting Unit), 20k ALPH, and more!

Ergo sets the new standard in the evolution of Proof of Work blockchains. Together with our partners, attendees are invited to help us build the future of blockchain and explore the potential for cross-chain deployment. Are you ready to help build the future? Visit the Ergo Platform website for more information about Ergo and start your ErgoHack application today!

ErgoHack V Sponsors and Presenters

ergonomics

Ergo is a robust proof of work and smart contract platform based on the eUTXO model with many technological innovations including NIPoPoWs, Storage Rent, Sigma Protocols, ErgoMixer, SigUSD and subpool mining to name a few some. It was fairly launched with no pre-mining, no pre-allotment of tokens, and no venture capital partnership. The entire supply of ERG tokens was reserved for consensus mining, except for a small portion (4.37% of the total supply) which was sent to a treasury fund to be spent in the promotion and development of the Ergo blockchain. The team behind the project represents some of the greatest minds in blockchain development, with many years of experience and countless academic papers to their credit. At the time of writing, the ERG token has grown over 195% since mid-July 2022.

Alliance Djed

Djed is a formally verified standalone encrypted stablecoin protocol. Ergo’s main stablecoin, SigmaUSD, is a deployment of an open-source implementation of this protocol. The Djed Alliance manages the evolution and growth of the Djed protocol, with a mission to bring stability to the cryptocurrency industry.

Alephium

Alephium is the first operational sharded L1 blockchain scaling and improvement on PoW and UTXO concepts. Decentralization, self-sovereignty, and security meet high performance, accessibility, and energy efficiency in a developer-friendly network optimized for DeFi and smart contract applications. For more information, please visit the Alephium website.

FLOW

Flux is building a new generation of scalable and decentralized cloud infrastructure. By developing Web3, Flux offers advantages such as redundancy, interoperability, decentralization and cost efficiency. For more information, please visit the Flux website.

Disclaimer: There is no offer to sell, no solicitation of an offer to buy, and no recommendation of security or any other product or service in this article. This is not investment advice. Please do your own research.

Media Contact

Contact person: Angie H

Contact email: [email protected]

Location: Singapore

Company: Ergo Foundation

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