Right, so we started with security actually, right, so with pretty well known Bitcoin security assumptions. And then what's
So, what can you do? So, we have different
options for a product, well, parts of the blockchain without compromising security. Support for bootstrapping with UTexo set snapshots because of
commitments to you to access that. We have support for non-interactive proof of proof of works and also support for stateless clients and yeah it allows you to actually run
the reference client, the notes in different regimes and a prune blockchain, different parts of it. Well, you can have the same security as
you have by processing all the blocks since geniuses block but yeah without storing most of blockchain or without even storing full blocks so then you can actually around
full notes on pretty limited devices so we had Ergo hack project about trying notes on smart TV 7 writes on Raspberry Pi's people are in full notes and so on and yeah there was a video
released third, ergo summit about lock space mining. So you can actually prune everything well. Kevin,
Well, just storage, which is growing collogorytically with time with growth of the blockchain, which is quite awesome. And well, after that, after that link, you can then increase TPS securely, right?
without first raising TPS and then. I think what will happen. So yeah, how approach is quite opposite. So first to be sure that you can securely increase it and then do it. And yeah, so since the main launch, so TPS
already. I raised a lot and yeah it can be raised a lot further via miners' working. So there are no limits, there is no hard limit for TPS. Once the design and current
network and yeah, Kamodity Kadwa we have around is a link for raising TPS so my ears can do that securely. Very well explained thank you so much so very curious to know
with a project like Ergo, there is definitely a very amazing team which is working behind the scenes to put everything together. So can you please let our audience know about the structure of the team behind the project and any prominent supporters or partners that you're planning to acquire or collaborate
in this coming year. Yeah, so well, we started this pretty focused on the actually, yeah, central
is actually team, right for bootstrapping, right for quick development, sake. And yeah, currently it's pretty well decentralized, so we have a lot of ecosystem development
some contributing to the core protocol with Ergo protocol improvement proposals, EPs or documents which are specifying how protocol should evolve, if such documents
approved widely in the community and then there will be a managed watching for soft forks sometimes even for hard forks but we are trying to avoid them and yeah so
Still we have some initial code developers on board, right, and also a lot of contributors, which are contributing with APs and also with the code, right. So for some releases, well, actually most of commits are done by
the others so not members of the court team. God I just think so let's move on to a slightly different topic now let's hit on the ego ecosystem so I know you've already explained us quite a lot but could you also just you know define the key
components of the Ergo ecosystem and how they work together to support a wide range of their five functionalities.
chain's applications appeared on the Ergo blockchain in quite unusual order. So the first application was actually Ergo mixer. Right, so that's top two.
for while restoring fungibility of your assets. And yeah, that's probably the only non-interactive mixer done as an application. Right, and yeah, Erghar
actually is a long for such applications because of support for sigma protocols and then you can use sigma protocols to build well privacy enhancing applications on application level unlike
called privacy coins which you have. Certain functionalities set in stone. Right, here is more like what's the many Bitcoin developers actually are dreaming about, right?
not so still do not get right with a bit going protocol even after the approach upgrades actually.
The second application was Auction House, which is still alive from Thraying. So yeah, it's used for NFTs, but yeah, actually it's decentralized Auction
protocol and it's working in peer-to-peer fashion so you can sell something on blockchain powered auction right then I can make a beat another guy also can make a beat and so on right and then
Yeah, after deadline, well, the winning beat is getting assets such as an NFT. Right, another option of house is just actually tiny UI, showing what's going on on the
blockchain. So yeah I like many NFT marketplaces so it's working in peer-to-peer way which is improving basically everything right so easy
in centralization. Well, Ergo ecosystem got pretty ordinary. This is a stack of DeFi applications, stablecoin, Uniswap like
then your landing platform such as Sigma Phi which is a DeFi application for bonding so you can issue bonds right and I can land you
money, right, we are this bonds and yeah, they're also working in peer-to-peer way and Sigma Phi is also kind of tiny UI, right, which is also helping with minimizing trust, decentralization, resilience and so on.
So yeah, at the moment, well, there are lots of applications, right? Different NFT projects, games, language platforms, units for like decks and order book-based decks.
So, we will be launched. So, kind of creating a complete parallel to traditional assistance. So, we have an entire ecosystem which is coming out from Ergo.
stable coil which is actually stable. So, survived through a lot of price crashes actually. Right, so at the top of our bull markets the price was 18.
USD Pererq, now 1.3 and the stablecoin, well stable and still heavily culturalized. And yeah actually, well some new stablecoin design
So actually you have covered my next question because I was about to ask you the next question as you know how can you discuss the role of DeFi in the Ergo ecosystem and how it's driving innovation and growth in the platform. So I know you have covered quite a lot bit from that but would you like to add anything additional
about innovation and growth in the platform. Something specific you want to highlight. Innovation defies. I think, well, those peer-to-peer contracts are actually quite innovative.
Well, yeah, in most cases when a VM based one, well ecosystem, let's say, is a launch of a bonding platform, right?
So that's some big contract, right? And it has some governance, right? So it's subject to governance. Then, yeah, you can actually lose something, right? Because of that governance. Right.
Because even the voice of majority so you can get some well unintended effects right so in case of peer-to-peer finance that's just you and
control party, right? So no governments, well, no admin keys, right? And even, well, in regards with legal aspects, right? So currently some jurisdictions are
Well, trying to enforce some kills which write contracts, but they also have this model of big contracts in mind. And if you have just peer-to-peer agreements with your counterparty, then the
There is no room for a kill switch here. It's breaking everything. You cannot contract with a counterparty whether you or your counterparty.
have for this kill switch. So then yeah it's well more trustless, more clean, more resilient. Let's risk to loss something even
in case of majority watching, right? Right, of course. So users definitely have a major concern when it comes to security in the DeFi space. And I'm sure about the check that you just mentioned, you know, a go ecosystem does prioritize the security measures and protect users' assets and transactions. Am I right?
Sure, yes, well, this is the top priority. And then you need to go from first principles, right? And see how can you implement this?
How can you protect users even from protocols themselves? If possible, if that makes sense. Sometimes, well, you need for governance, but if not, then better to avoid it.
So you definitely prioritize the security measures and I think it's going to be very safe because like I mentioned a major concern definitely comes to security in the DeFi space and where that has been taken care of I think we are very much with the users and with the like yours is more like a peer-to-peer.
space, so definitely, you know, we are taking care of the important aspects. All right, so I'm pretty sure that the community is very curious to know what Ergo has been doing. So I happened to look at Ergo's Twitter and found that he have been working on a stable coin which is called as Dexie.
So, would you mind, you know, explaining briefly about what it is and how it differs from the other stable coins? Alright, so actually it will be presented at the hubcoming Ergosimites. Okay, and when is that?
July 1st to 3rd, so it will be virtual online, ergo summit. Celebrating 4th anniversary and we will have a lot of speakers and yeah, Dex will be presented and actually another stable coin, these are
design which is now called glion but maybe will be named differently during the presentation. Let's see, so yeah it's not up to me but yeah it has worked in name glion and also will be
during the ergasame. But this glion design is following the line of the current stable coin which is stable, right?
aspects in the design which sometimes weird sometimes maybe unfortunately even right. So well this glue on then maybe thought as like version
2.0 of the current design which is called Sigma USD. Right, in Cardano world it's known as Jet, basically the same protocol. And yeah, so version 2.0
will be presented to the Ergas Siamets. And yeah, Dex is kind of an alternative stable coin design, which also will be presented to the Ergas Siamets as I mentioned at the end. Well, the idea here is to create a very simple
in regards to financial tooling being used stablecoin which is based on pretty much simulating central banks having some algorithmic
central bank, which is doing interventions into a known market. So you need to swap liquidity pool when the price is going above or below the pack. All right, and the bank
is well acting also in a way that is allowing to increase reserves and also it is working pretty slow
So avoid attacks against its behavior, right? So, well, the idea is first to let the markets decide what to do and only after that during interventions. And yeah, it's also
So it has a lot of limits and it's a bit over well again to avoid some active attacks. And yeah, it's actually a pretty simple design but it has
But looking at 360 degree view of the entire situation, simple but it ensures that it integrates all the requirements of a typical stable coin. Is it right? So, yeah, it's actually has
maybe like, I don't know, like six or seven different rules, right? So still, well, presentation, full scale presentation is required. But yeah, actually it's about pretty simple principle and rules after all. And yeah, it's
Also built after well-observing, failing designs such as, for example, a new DERRALUNA design, and so on, so on.
then it has actually many limits for example introduced in new tree now similar to them but introduced after the fail rights when they are not capable to do anything can they actually
Well, the first appeared in the Dexity design, which is quite funny. So when it's already failing, the guys are starting to do something. And then in Dexity, well,
I tried so in vision such scenarios in the first place. Right. So that means the bottom of the list that we have to wait for the summit which is going to happen in July. So I'm sure the audience should definitely look out to the Twitter accounts to ensure that if they are available they should be attending the summit.
So, next question is something related to what we have actually even covered, but I think let us have an answer to that as well from you. So, liquidity is like a crucial point for any stable coin. So, how does Dexie design address liquidity challenges and ensures that there is sufficient
liquidity to support its use in various applications. Actually, well, there is a case of alert to Social Security stability here. So, liquidity is then a problem
So the bank is reasonably liquidity slowly.
that a lot of reserves that probably means that the price is at the top. And then if you allow to means a lot, then you will have problems after a price been dropped, which is actually how or
the Trino stable coin failed for example. So a lot was printed when the price was from 20 to 60 USDPer waves, right? The reserve rate. And now the price is
1.3 and then the bank, then you know, stablecoin bank does not have reserves right to cover USDs minted. So then you need to prioritize security
and release liquidity. Okay. Makes sense. Bit by bit. So, but yeah, it's maybe, well, not so, let's say sexist max right from a well marketing point of view. But yeah, it's it's mostly
you're right. Corridh, very well explained in fact. The other thing that Ergo has been working on is I think the Rosen bridge if I'm not wrong. So what is the Ergo Rosen bridge and how does it aim to revolutionize the cross-chain?
interoperability in the crypto ecosystem, cryptocurrency ecosystem. All right, so yeah, it's well, a federation multi-signature based bridge. Okay. Well, what's interesting is
that's you need to have contracts only on the ergo site right and on the other side the first controller layer one party would be Cardano so on the
Cardano-site only multi-seq functionality multi-signature would be used. Similarly, well in case of Bitcoin only Bitcoin multi-seq is needed and you're the same for the EVM and so on. So then basically you can
have all the complexity isolated right in the Ergocontrax and actually well I could be biased but yeah well yeah reviewing Ergocontrax is well
simpler because you do not have a lot of complex things in execution models. You see on other chains such as re-entrancy for Ethereum or well a weird behavior of system contracts.
In Solana, for example, which led to the wormhole bridge hack with 120 million USD lost. If my memory source is well, and so on.
Yeah, in case of Ergo, well, the execution model of contracts is simple. So then, well, the court is actually doing what's prescribed, right, without surprises from
other layers. And then, yeah, this isolation of complexity is well working great for security. Actually. Right. Very interesting to note. And I mean, Julia, please
the kind of efforts that have gone you know for building such an amazing project. So, if I were to ask you in like very simple points what are the key advantages of using the Ergo Rosen bridge compared to the other existing cross gene solutions in the market?
Oh, all right. So, uh, well, uh, security, uh, I think right. Yeah, absolutely. I did think that because yeah, we've had so many bridge hacks. That's actually the need of the need of the need of the all that's well. Yeah.
Yeah, so probably well, well, in case of cross chains, it's even worse right than in case of just on chain applications. So many bridges, maybe even most of them, right, so this
wormhole on Salana than Watts. Yeah, I can remember but yeah probably a tenth of different
And yeah, well, sometimes if there are centralized bridges unfortunately, this is still the case. So then there are just some terrible cases as a team
stealing the funds, right, so losing them. I also was the case, so you need to have a duration list. Then there are some, well potentially more decentralized designs like this interlay project, for example,
Well, there are some theoretical relay or zero knowledge based bridges. But well, the set reality is that they are complex writing case of interlay also. Well, they have
Well, controversial, let's say, capital efficiency, then yeah, maybe they would not be popular just because of that, even in case of superior decentralization. And, yeah, so,
for a release also very expensive, so they're not useful steel and yes, for zero knowledge or well secure multi-party computation based protocols.
like Ren for example. So for Ren, I don't know if it's open source, so it was closed source. So it's not even clear how it works in reality. And so on, so on. So then, yeah, well,
good, well understood and simple, federated protocol. Maybe actually, yeah, quite innovative in this environment. And also, yes, secure. And so, then it's serving users.
got it, got it. That's quite detailed. Thank you so much Alex. Actually, while you were answering, I was also looking at our audience here and I see that we have another special guest from Ghosts in the Matots. Hi QX, thank you for joining us.
us as well. Could you please introduce us a little bit about the Sigma Torx droogram. Hey thanks so much. Yeah I'm QX and I'm a Sigma not over here at Airgo. One of the amazing things about Airgo and scary things at the same time is that
that air go is open for all as kushy once said try to take as much control of the ecosystem as you can. So while that's amazing it's also interesting in the fact that we need a community to come together and bond together and help with marketing and push marketing and push community grassroots efforts.
That's where the signal outs comes into play. It wasn't really, it was seeded maybe a year or so ago and has been building up ever since. So if you're interested in helping out an air go being involved, if you're a community dev, if you're somebody on Twitter, somebody on Telegram, any
like that where you just want to be involved, you want to help out or you just want to dig a little deeper into the ecosystem. That's exactly what the Sigma Nautz F4. We have a Treasury, we have an on-chain voting system for members as well to vote on proposals and new members. There's a stage step that you go through when you're becoming a
So, you can see Canada first when you express interest in the program and then after a little while of showing involvement and commitment to the ecosystem, you can be brought up as a full on Sigma Naut, which at that point you have full voting rights and you can also sit on committees such as a Treasury Committee or let's say the Marketing Committee or one of those committees as far as that goes.
But in general, the community branch, the community effort of Ergo, because that's what Ergo is. It's a huge community effort with a combination of community devs, core devs, Ergo foundation, and the Sigma Nautz, of course. So come on, click our Twitter,
join us and we meet every Sunday on Zoom for those of you can we have several chats that are just based on us so that we can have some internal discourse there and we also of course in the spirit of air go as I said all voting's on chain within the Sigmundans and we post our meeting notes publicly as well
into the main chats just to keep everything open and transparent as much as we can in the spirit of there going. Wow, that is so interesting and I hope our audience has taken a note of that and you definitely get some very informative sessions on Zoom and I think you mentioned it every Sunday right?
You got it every Sunday. We'll hold a segment on its meeting and we post the audio chat We're also a lot of the communities are very community members are very up to date with tech as well. So we'll push our our zooms through the whisper
So we get a full transcript for people as well and post that in our notes and chat as well. So we try to offer it to you as much as we can in whatever format that you that you can enjoy. That's a great initiative by you guys. It's really nice.
So you would look at the time and I think we'll have to end the AMA session here. I'm so sorry, but we are a little time-pressed. So is there anything to add from your site Alex before we close this AMA session?
Sure, well thanks for having me here, Shudja. And yeah, it's actually the first Twitter space for me. And surprisingly, everything is working smoothly.
Yes, it does. So before we try to organize some Twitter space for well, Ergonauts community, May and well the experience was truly terrible.
So we moved to other platforms. So yeah, this time it's working perfectly. Then yeah, what I would like to say again is, well, the Argosamites
So, coming there will be a lot of videos. So, as I have some well information from inside. Well, there will be a lot of useful videos and also some
Thank you and for all the listeners, please do not forget to fill in the form and get a chance to win ERG. So thank you Alex for
taking the time to be here with us today. It was amazing and a very insightful session. Of course, you know, we have learned a lot about Ergo and from you and we bit through our totally honor to partner with a project like yours. We are rooting for you and don't forget
And to my listeners, please don't forget to support Ergo by following them on Twitter. And any other social media that, you know, Alex, you think that, you know, the community needs to follow. Is there any other social media or any other platform where more information can be gathered about Ergo?
Yeah, so Twitter, the website, well, you can find a lot of documentation, so white paper, other papers, so there goes based on, well, maybe it doesn't have research papers.
done by its founders. Then you can find links to wallets and so on. Then you have a bit rule exchange. Then we have
There are a lot of good chats and telegram groups. There are national groups for many languages.
So very active discord, bridge, many rooms, bridge telegram groups. Well, there are a few groups for developers. If you're interested in contributing, that would be a great
And so on. So yeah, actually a lot of spaces where you can find ergonods. Very nice. Of different kinds. So I think my audience should not forget to check your website for the relevant links. And like you mentioned, please take a note that they're available in
different languages, you have various groups on Discord, something even for the tech side. So it's going to be very interesting for the users to join your communities. And yes, I should not forget to give a very special shout out to QX for explaining the signal
Now, sigma notes, sigma notes. Yeah, I got to try this time. Sigma program and it was really nice that you took out your time and explained to our audience. Anything else you want to give like a closing note to my audience?
Yeah, so stay curious and yeah, see you out of the internet Thank you so much Alex and before we close this AMA some quick quick noise
for everyone. Winners of this AMA will be announced on a Twitter and trading on a Twitter space or a Twitter channel and trading for ERG is available on BitTru. Stick around and
follow us on Twitter and Telegram for the latest news. Once again, a big thank you to Alex, QX, and thank you to my listeners for joining in and tuning in today. Have a great evening. See you soon with the next session.
Thank you everyone bye bye bye bye bye Alex bye everyone