What is Aergo (AERGO)?
AERGO is the native token of the Aergo network, which is a hybrid blockchain platform that supports smart contracts. It was developed by a commercial blockchain infrastructure provider called Blocko. If you’re interested in the current or the previous AERGO price, check out the Aergo price chart that is featured above.
Aergo is used specifically for creating and storing decentralized applications (dApps). It's a hybrid network since it uses both private and public blockchain cloud architectures.
The programming language employed by Aergo is LUA. It offers various functions and libraries, which make the creation of smart contracts an easy process, even for those who don’t have a lot of programming experience. Besides, LUA has a library that supports SQL (a standard programming language used for managing relational databases).
Aergo uses the Delegated Proof-of-Stake (DPoS) consensus mechanism. It allows the network to make more than 10,000 transactions per second and keeps the transaction fees at a bare minimum. Though the projects that are built on the private blockchain cloud infrastructure utilize the RAFT-based Proof-of-Authority (PoA) consensus mechanism.
The Aergo crypto project is governed by a DAO-based decentralized network called Agora. It’s a novel on-chain governance system developed by Aergo. In order to participate in the system, users have to stake AERGO tokens.
Use Cases of AERGO Tokens
AERGO tokens are based on the ERC-20 token standard. Primarily, AERGO coins are needed to deploy smart contracts. However, as was mentioned earlier, they can also be staked in order to participate in the governance process of the platform. Besides that, they are used for making any payment within the Aergo ecosystem.
Tokenomics of AERGO
The AERGO tokens have a max supply of 500 million. This means that AERGO tokens are deflationary. Therefore, the AERGO price might increase once the circulating supply reaches the maximum supply.