Ergo is a Resilient Platform for Contractual Money. It is designed to be a platform for applications with the main focus to provide an efficient, secure and easy way to implement financial contracts.
To achieve this goal, Ergo includes various technical and economic improvements to existing blockchain solutions. Every coin in Ergo is protected by a program in ErgoScript, which is a powerful and protocol friendly scripting language based on Σ-protocols. It specifies conditions under which a coin can be used: who can spend them, when, under what external conditions, to whom, and so on.
Extended support of light nodes makes Ergo friendly for end users and allows it to run contracts on common devices such as mobile phones trustlessly. To be useful in the long-term, Ergo is strictly following a long‐term survivability approach — it uses widely-researched solutions that are not going to result in security issues in the future, while also preventing performance degradation over time with a new economic model.
Finally, Ergo is a self‐amendable protocol, that allows it to absorb new ideas and improve itself in the future. The focuses on long‐term survivability and self‐amendability are what give Ergo its resiliency.
Consensus protocol of Ergo — Autolykos — is based on the well-known Proof-of-Work (“PoW”) consensus algorithm. PoW was chosen for several reasons including that PoW protocols are widely studied, have high security guarantees, and are friendly to light clients. However, Autolykos has several meaningful differences from Bitcoin's PoW. First, it is memory-hard reducing the disparity between specialized hardware (ASICs) and commodity GPUs, allowing ordinary people to participate in mining to secure the network and receive the reward. Second, Autolykos is the first production implementation of pool-resistant mining, which forces users to perform solo mining, thus keeping the network decentralized and without mining pools.