Waves partners with Ergo to foster interoperability solutions via Gravity
As we strive to further interoperability solutions, we have struck a partnership with Ergo through Ergo Foundation.
We are excited to announce Waves’ new partnership agreement with the Ergo Foundation. The agreement stipulates integration of Ergo as a Gravity target chain, as well as collaborative R&D on cross-chain solutions with a focus on decentralized finance (DeFi) and decentralized oracles.
While Ergo never had an ICO, its token, ERG, was initially issued on the Waves blockchain. Today, ERG is a qualified token traded on Waves.Exchange. Over the last few years, Ergo has shown promising results in the implementation of ideas and concepts of UTXO computing, taking a novel approach to designing smart contract architectures.
The Ergo Foundation is committed to organic and non-breaking development of the Ergo Platform protocol. The foundation ensures that changes to the protocol are approved not only by miners , but also users, projects building on top of Ergo and core developers. The foundation also supports the creation of trustless environments, smart contracts and payment frameworks for the public with privacy in mind.
Most recently, researchers of EMURGO, a global blockchain technology company that provides solutions for UTXO-based blockchains, such as Ergo, presented a model of decentralized oracles called Oracle Pools on the Ergo blockchain, and many of the model’s concepts have been embodied in the Gravity protocol.
“So far, the concepts implemented in Ergo seem complex, multi-layered algebraic abstractions and are somewhat difficult for developers to grasp,” says Aleksei Pupyshev, Waves Tech evangelist and author of Gravity. “However, it’s precisely this radically new perspective that helps create innovative protocols and might be essential in solving problems in decentralized systems and improving them, be that architecture of a blockchain network or a network of oracles.”
“Integration with Gravity is more than an interesting technical challenge,” adds Alexander Chepurnoy, Ergo core developer. “It offers an opportunity to open the Ergo blockchain to a large number of digital assets from the blockchain networks integrated with Gravity, which will create a stable foundation for the development of DeFi on Ergo.”
One of the first collaborative tasks will be integration of the Ergo blockchain into the Gravity blockchain-agnostic network, with the creation of cross-chain gateways between the Ergo blockchain and other Gravity target chains.