Aergo Launches Interoperability Bridge with Ethereum
Aergo gains momentum with the release of its 2.0 Mainnet, boosting User Activity up 115-points (54.25%) and driving FCAS up 57-points (10.59%) since the end of January. Price is up 57% in the same timeframe.
What is AERGO?
Aergo is an enterprise-focused blockchain platform supported by Samsung-backed Blocko (South Korean technology company that develops blockchain solutions). The project is considered a hybrid blockchain, enabling DApps to be deployed on both permissioned or permissionless systems, in addition to enabling developers to create public and private blockchains.
The AERGO token is the network’s native token used primarily as the medium of exchange for transactions and functions within the Aergo network.
Road Work Ahead
AERGO FCAS is up 57-points (10.59%) since the end of January, driven in large part by a 115-points (54.25%) spike in User Activity. On January 22nd Aergo updated its Mainnet to v2.0, a release which contains a number of improvements that have attracted many new users to the platform.
Most notably, Aergo released the Merkle Bridge, a new design for simple and secure interoperability between sidechains on Aergo, as well as bridging with Ethereum. The Merkle Bridge behaves like a MultiSig contract but the token custody is much more decentralized and the operation is done through a simple Web UI. This means all ERC20 token are now available for Aergo mainnet users, boosting the platform’s utility.
Our Hot Take
South Korea has always been a pioneer in adopting new technologies, and blockchain technology is no exception. Aergo’s core technology is already being used by over 25 million users, and we can expect this number to grow with v.2.0. The Merkle Bridge means decentralized apps (DApps) built on Aergo can now cater to a broader base of users, who would otherwise remain siloed in one closed network, and projects can leverage specific characteristics of different blockchains simultaneously. The road ahead looks promising for Aergo as it continues to expand across blockchains and geographies.
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