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Agoric

logo

Service Information

  • Moniker: OWALLET
  • Validator address: agoricvaloper1uln005jgm9f38whgau8n8tpmwxeaeahejzyu6n
  • Software version: v0.4.0

Staking Information

  • Staking Apr: 10%
  • Validator commission: 1%
  • Unbonding Time: 21 days
  • Stake UI: mintscan

Project Information

Describle Agoric is a blockchain platform designed to enable secure smart contract development and decentralized finance (DeFi) applications. It emphasizes usability, modularity, and interoperability, allowing developers to build robust decentralized applications (dApps) while minimizing risks.

Key Features of Agoric Network:

  1. Secure Smart Contract Platform:

    • Agoric focuses on developing safe and secure smart contracts using a hardened version of JavaScript, a language familiar to millions of developers.
    • This approach lowers the entry barrier for developers transitioning into blockchain.

  2. Composable Smart Contracts:

    • Contracts are built from reusable components, reducing duplication and development time.
    • The modular design allows for easily composing complex applications from smaller, tested parts.

  3. Economic Model:

    • Agoric incorporates a stable token and a native utility token called BLD:
      • BLD: Staking and governance token used to secure the network and participate in governance decisions.
      • RUN: A stable token designed for use in smart contracts, acting as a medium of exchange within the ecosystem.

  4. Decentralized Finance (DeFi) Ecosystem:

    • Agoric supports DeFi use cases such as decentralized exchanges, lending platforms, and automated market makers.
    • The network enables the creation of custom financial instruments and integrations with external assets.

  5. Interoperability:

    • Built on the Cosmos SDK, Agoric is interoperable with other Cosmos-based blockchains via the Inter-Blockchain Communication (IBC) protocol.
    • This connectivity allows seamless asset and data transfers between Agoric and other networks in the Cosmos ecosystem.

  6. Safety First:

    • Agoric uses object-capability security, which ensures that smart contracts can only access resources they are explicitly authorized to use.
    • This reduces the risk of exploits and enhances the overall security of the platform.

  7. Developer-Friendly Tools:

    • The platform offers tools, libraries, and templates to simplify smart contract creation.
    • By using JavaScript, Agoric leverages a language with a vast ecosystem, making it easier for developers to build and deploy applications.

  8. Governance:

    • Agoric employs a community-driven governance model, where BLD token holders vote on network upgrades, changes, and protocol parameters.

Technical Overview:

  • Consensus Mechanism: Agoric utilizes Tendermint’s Proof-of-Stake (PoS) consensus for fast and secure block finality.
  • Programming Language: Hardened JavaScript is used for writing smart contracts, ensuring security while leveraging an accessible and widely adopted language.
  • Ecosystem Tools:
    • Zoe: A framework for safe contract execution.
    • ERTP (Electronic Rights Transfer Protocol): Handles digital assets securely.

Advantages of Agoric:

  1. Broad Developer Access:
    • By using JavaScript, Agoric taps into a large pool of developers, accelerating adoption.
  2. High Security:
    • Object-capability security mitigates risks of unauthorized access and common smart contract vulnerabilities.
  3. Interoperability:
    • Integration with Cosmos enables Agoric to interact with a broad range of blockchains.
  4. Customizable Financial Tools:
    • Provides developers with powerful abstractions for building DeFi applications and economic systems.

Use Cases:

  1. Decentralized Exchanges (DEXs):
    • Facilitates secure and customizable trading platforms.
  2. Lending Protocols:
    • Enables trustless borrowing and lending services.
  3. Digital Asset Management:
    • Supports the creation and management of fungible and non-fungible tokens (NFTs).
  4. Enterprise Solutions:
    • Smart contracts tailored to supply chain, insurance, and other enterprise needs.

Challenges:

  1. Adoption:
    • Educating developers and users about its unique features like object-capability security.
  2. Competition:
    • Competes with established platforms like Ethereum and newer blockchains focusing on interoperability and DeFi.

Summary:

Agoric is a secure, developer-friendly, and interoperable blockchain platform tailored for building DeFi applications and other decentralized services. By leveraging JavaScript and focusing on composable smart contracts, Agoric aims to democratize blockchain development while ensuring safety and scalability. Its integration with the Cosmos ecosystem positions it as a powerful player in the interoperable blockchain landscape.