ERGO to launch Testnet 2.0

A decentralized blockchain platform ERGO is going to roll out Testnet 2.0 on June 1 with multiple features
28 May 2018   709

ERGO has updated its status on the Testnet 2.0. The development is as planned: the release is scheduled for June 1. Serialization and specifications of spending proofs, coins and transactions are under finalization.

The testnet will feature:

  • Schnorr protocol and proof of Diffie-Hellman tuple knowledge protocol as building blocks
  • Arbitrarily complex AND and OR conjectures (to build complex multisig schemes)
  • SecP384R1 curve
  • A lot of (typed) predicates over blockchain state.
  • No implicit rules to produce money out of thin air. No coinbase transactions, no implicit fee. All the coins rewarding miners will be created before the genesis block and locked up to certain heights.

ERGO is a decentralized and open-source cryptocurrency based on novel scientific ideas with a user-friendly protocol that is executable on a smartphone. At the moment of publication, ERGO market characteristics are as follows:

Average price 4.36 USD
Market cap 1,733,611 USD
Volume (24H) 78,660 USD

South Korea to Invest $1B in Blockchain Startups

Blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution, local authorities believe
19 February 2019   93

Until 2022, Seoul authorities are investing 1.2 trillion South Korean won ($ 1.07 billion) in fintech startups working with distributed ledger technology. This is reported by CoinDesk.

Funds will be allocated for the development of new technologies through the Seoul Innovation Growth Fund, created last year by local authorities. The foundation will support startups working on various solutions, including those that are in the early stages.

In the first half of this year, the Fund will allocate 13.25 billion won ($ 11.75 million) and 8.4 billion won ($ 7.45 million) in the second half of 2019. For the Korean authorities, the blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution.

The officials also noted that the average investment per start-up at an early stage of development in South Korea is almost seven times lower than, for example, in Silicon Valley.

Last fall, Seoul authorities submitted a five-year development plan for the blockchain industry.