ErgoHack V: Mining and Minting is announced by the Ergo Foundation.

Jamie Larson

• 3 min read
ErgoHack V: Mining and Minting is announced by the Ergo Foundation.

Following the Merge, Ergo Continues to Position Itself as a Top Option for Crypto Miners

The 29th of August 2022 in Singapore The fifth edition of the hugely popular ErgoHack series will take place this fall at the Ergo Foundation's headquarters. This most recent hackathon will be co-presented by Flux, Alephium, and the Djed Alliance and run from October 3–20, 2022. This ErgoHack intends to encourage developers and businesspeople to look into ideas related to mining and minting with the possibility for cross-chain development and deployment in light of the highly anticipated Ethereum Merge coming this fall (for example, consider the ways your project could take advantage of the tools on these other blockchains). Please be aware that while mining and minting is the hackathon's focus, any and all project suggestions are welcome to be submitted.

Ergo is a Layer 1 blockchain that consistently ranks among the top in this category on Stack. It is one of the most active platforms in terms of developer engagement. Over the past year, Ergo hackathons have established themselves as a distinguishing element of the platform and have produced some of the most popular dApps in the ecosystem today. Numerous miners looking for a new cryptocurrency to mine will be attracted by the impending Ethereum Merge, and Ergo is positioned to accept a significant portion of those miners. The Ergo Platform is well-positioned to provide miners with a number of technology advancements in the Proof of Work mining sector (ie. Storage Rent, governance responsibilities, etc). Since the beginning of August, the network hashrate has surged by almost 250%, and Ergo has already begun to observe an increase in hashrate migration.

ErgoHack V: Mining and Minting will primarily concentrate on developing dApps, tools, and infrastructure to further entice miners who will be seeking for a new cryptocurrency to mine after the Ethereum Merge with an eye on the future of Proof of Work mining. Visit the ErgoHack website for information on how to submit an application if you're interested in taking part in this great opportunity. The prize pool for ErgoHack V is also the biggest one yet! Rewards comprise:

  • First Prize: $10,000 USD
  • Second Prize: USD $6000
  • Third Prize: 2,000 Sig USD

There will also be 1800 DACAU (Djed Alliance Contribution Accounting Unit), 20,000 ALPH, and other prizes from the co-presenters.

Ergo is establishing a new benchmark for Proof of Work blockchains. Participants are welcome to work with us and our partners to create the blockchain of the future and to investigate the possibility of cross-chain deployment. Ready to contribute to constructing the future? To learn more about Ergo and to get started building your ErgoHack application, head to the Ergo Platform website.

ErgoHack V Presenters and Sponsors

Built on the eUTXO paradigm, Ergo Ergo is a powerful Proof of Work smart contract platform featuring a number of technological advancements, including ErgoMixer, SigUSD, NIPoPoWs, Storage Rent, Sigma Protocols, and subpool mining, to mention a few. Without pre-mining, pre-token distribution, or venture capital partnerships, it was launched fairly. Except for a minor fraction (4.37% of the total supply) that was delivered to a treasury fund to be used for marketing and expanding the Ergo blockchain, the whole quantity of ERG tokens has been set aside for the mining consensus. The project's staff includes some of the brightest brains in blockchain development, and they have years of expertise and a long list of publications to their name. The ERG token has increased by more than 195% as of this writing compared to mid-July 2022.

Djed Alliance Djed is an autonomous, cryptographically certified stablecoin protocol. SigmaUSD, the primary stablecoin of Ergo, uses an open-source version of this protocol. The Djed Alliance oversees the development and expansion of the Djed protocol with the goal of stabilizing the cryptocurrency market.

The first operational sharded L1 blockchain, Alephium, scales and improves on UTXO and PoW ideas. High performance, accessibility, and energy efficiency come together with decentralization, self-sovereignty, and security in a developer-friendly network that is tailored for DeFi & smart contract applications. Please check Alephium's website for further details.

FLUX

A new generation of scalable, decentralized cloud architecture is being developed by Flux. Flux's Web3 development offers benefits like redundancy, interoperability, decentralization, and cost effectiveness. Please go to Flux's website for further details.