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General Overview: POW Mining

Building a distributed system is a matter of trade-offs. Investors need to understand the design and purpose of each blockchain. Ergo was designed to be in alignment with the first principles of crypto. The goal is to allow the average user to mine, invest, and participate in the network. We believe the larger value proposition of Bitcoin has been its continued resilience in the face of adversity. Our goal is to build a battle-ready system designed from the ground up with the latest technology and can extend these advanced features and functionality to any user in any environment. Simply put, our goal is to follow Bitcoins model of being unstoppable. In our design, this starts with the hardware. The hardware requirements needed to participate in mining are within the average user’s specs. Our current algorithm Autolykos V2 is memory hardened ASIC resistant and supports GPUs with 4GB of memory. This has allowed miners to repurpose their smaller mining rigs that were no longer profitable mining ETH to continue to mine profitably. As GPUs continue to optimize and advance GPU minable, Proof of Work becomes increasingly efficient. The latest Nvidia CMP 170HX mining card has been bench tested at 1.66MH/W, which is a big step forward.

General Overview: Security/Programmability

Ergo was the first blockchain to market with a functional extended UTXO smart contract model. So far, the Ergo blockchain was the first chain to release a Dapp, Dex, Stablecoin, Oracle Model, NFT’s, and native assets in extended UTXO. Ergo’s extended UTXO model uses functional programming, Ergoscript, a subset of Scala.

General Overview: The Power of Open Source

Ergo Platform is committed to open source development. Open projects create an innovative environment that encourages collective growth and development. This is something we will actively encourage. However, it is not something we enforce. The Ergo Foundation are not the police. However, we work with the community to propose common principles. Why open source? The first consideration is that extended UTXO is new. So a goal is to encourage the growth and adoption of this model. Trade secrets stifle progress. A trade secret, by definition, is a secret. Secrets are only known to the secret holder, so no one else knows how the code works. Since no one else knows how the code works, nobody else can improve it. This prevents growth and adoption because it prevents learning from the work of others. It this potentially profitable, yes, as it restricts competition. Open source creates an environment that drives innovation, collaboration, offers security benefits through community review, creates composable code, libraries, and frameworks. This collective mindshare and evolution are what lead to the crypto space. Bitcoin has had over 100 forks, different developers altering the codebase to expand functionality and fit unique use cases. Ethereum and the EVM model have bloomed through open libraries that have allowed developers to enter the space and begin their process of learning and problem-solving. Extended UTXO is a new contract model to encourage explosive growth, and evolution pushing an open-source model with educational tools is the best path forward. Extended UTXO opens an entirely new paradigm for the verification of distributed ledgers.

Overview of General Questions

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