Ergo Foundation Announces ErgoHack V: Mining and Minting

Ergo Foundation Announces ErgoHack V: Mining and Minting

Disclaimer: The textual content under is a press launch that’s not a part of Coinbold.io editorial content material.

Ergo Continues to Establish Itself as a Leading Option for Crypto Miners Post-Merge

Singapore – August 29, 2022 – This fall, the Ergo Foundation will host the fifth iteration of the extremely profitable ErgoHack sequence. This newest hackathon will happen from October 3-20, 2022, and it will likely be co-presented with Flux, Alephium and the Djed Alliance. With the a lot anticipated Ethereum Merge coming this fall, this ErgoHack goals to encourage builders and entrepreneurs to discover initiatives as they relate to mining and minting with the potential for cross-chain growth and deployment (for instance, think about the methods your challenge might make the most of the instruments on these different blockchains). Please observe that though the theme of the hackathon offers with mining and minting, any and all challenge proposals are welcome for submission.

As a Layer 1 blockchain, Ergo is among the most energetic platforms by way of developer exercise – it regularly ranks amongst the best on this class on Stack. Ergo hackathons have change into an figuring out function of the platform during the last 12 months, and earlier ErgoHacks have yielded among the most used dApps at the moment within the ecosystem. With the upcoming Ethereum Merge, there shall be numerous miners on the lookout for a brand new crypto to mine, and Ergo is poised to welcome quite a lot of these miners. The Ergo Platform is optimally located to supply miners a number of technological improvements within the Proof of Work mining trade (ie. Storage Rent, governance duties, and many others). Ergo is already beginning to see elevated hashrate migration with the community hashrate up over 250% for the reason that starting of August.

With an eye fixed to the way forward for Proof of Work mining, ErgoHack V: Mining and Minting will primarily give attention to creating dApps, instruments, and infrastructure to additional appeal to miners that shall be on the lookout for a brand new crypto to mine after the Ethereum Merge. Those who’re keen on taking part on this thrilling alternative are inspired to go to the ErgoHack web site for particulars on how one can submit an utility. The ErgoHack V prize pool can be the most important up to now! Prizes embody: 

1st Prize – 10k SigUSD

2nd Prize – 6k SigUSD

third Prize – 2k SigUSD

Additional prizes from co-presenters will embody 1800 DACAU (Djed Alliance Contribution Accounting Unit), 20k ALPH, and extra!

Ergo is setting the brand new customary within the evolution of Proof of Work blockchains. Together with our companions, members are invited to assist us construct the way forward for blockchain and to discover the potential for cross-chain deployment. Are you prepared to assist construct the long run? Visit the Ergo Platform web site for extra info on Ergo and get your ErgoHack utility began as we speak!

ErgoHack V Sponsors and Presenters 

Ergo

Ergo is a strong Proof of Work, sensible contract platform constructed on the eUTXO mannequin with quite a few technological improvements, together with NIPoPoWs, Storage Rent, Sigma Protocols, ErgoMixer, SigUSD, and subpool mining to call just a few. It was pretty launched with no pre-mining, no pre-allocation of tokens, and no enterprise capital partnerships. The total provide of ERG tokens has been reserved for the mining consensus, save a small portion (4.37% of all the provide) that was despatched to a treasury fund to be spent on selling and growing the Ergo blockchain. The group behind the challenge signify among the best minds in blockchain growth, with quite a few years of expertise and numerous educational papers to their credit score. At the time of writing, the ERG token is up over 195% from the center of July 2022. 

Djed Alliance

Djed is a formally verified crypto-backed autonomous stablecoin protocol. Ergo’s foremost stablecoin, SigmaUSD, is a deployment of an open-source implementation of this protocol. The Djed Alliance stewards the evolution and progress of the Djed protocol, with the mission of bringing stability to the cryptocurrency trade.

Alephium

Alephium is the primary operational sharded L1 blockchain scaling and enhancing on PoW & UTXO ideas. Decentralization, self-sovereignty, and safety meet high-performance, accessibility, and power effectivity in a dev-friendly community optimized for DeFi & sensible contract purposes. For extra info, please go to Alephium’s web site. 

FLUX

Flux is constructing a brand new era of scalable, decentralized cloud infrastructure. Developing Web3, Flux presents the benefits comparable to redundancy, interoperability, decentralization, and price effectivity. For extra info, please go to Flux’s web site.

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