Agoric’s Technology Stack
Nowadays, smart contract platforms appear to be hesitant, inconvenient and bounded to specific networks. The interoperable stable allocated smart contract platform of Agoric is introductory to the Convergence Stack. It also becomes essential in establishing an open data economy.
Considering that, the right time comes for blockchain technology to deliver surveillance, interoperability, and usability to the global economic system.
In light of smart contracts having different, compelling disadvantages in the identity-based security architecture, Agoric’s team have been putting a lot of time and efforts into creating and enhancing security operating system.
To give an illustration of that, let us dive deeper into Agoric’s Technology Stack. Firstly, it is significant to state about ERTP (Electronic Rights Transfer Protocol): Agoric’s token pattern for shifting tokens and different digital assets (fungible and nonfungible) in JavaScript. While utilizing the ERTP application programming interface, it is simple to build and handle digital assets. They are transporting in a precisely identical way.
According to that, object capabilities (OCaps) are applying for the administration of the access control. For example, when a system displays a demand for a service, it requires choosing if it should do what the demander requests. This process is an access control itself. Therefore, using ERTP, developers have absolute property rights and it is easier for them to create digital assets. That may stimulate the development and decrease long-term safety risks.
Another key part to indicate is Zoe. It is the framework that intends to minimize the load of smart contract developers and guarantees more safety to the users. Zoe enforces an “offer safety”, and the smart contract that operates on top is responsible for calculating a suggested reallocation of sources. It also defines who is the winner of the auction and what is the amount they pay, and the framework manages the bids and the payments.
With Zoe programmers can concentrate more on their applications. For users, there is also a huge plus because if you do not receive what you aimed for — you will have a full return of your payment. Despite it sounds too good to be true — it is true!
Last, but not least to state about Zoe is number of contracts: an AMM (Automated Market Maker), a covered call option contract, an OTC desk (which allows adding the inventory, removing it and making quotes for potential trading) and contracts for minting different fungible and nonfungible tokens.
An equally significant aspect of The Agoric Smart Contract Framework is the system-established contracts. Mark S. Miller, Chief Scientist at Agoric points on the importance of most contracts to be local and span from one limit of globally trustworthy blockchains to different private systems. The Agoric team have made it possible for smart contracts to become more safe and easy for sure. Rather than build a smart contract on one singular chain like Ethereum or Cardano, contracts are reproduced in SES (Secure Ecma Script) that allows descripted above object capabilities. In a structure that intends to display contracts, protection is the most significant. Dr. SES platform uses of the Q library to maintain assigned cryptographic capabilities, and encourage local object-capabilities. Server-side regularly checks out the current situation, and in the case of a breakdown, the program can always be restored. And that can happen even without developer’s participation!
The whole Agoric Stack platform includes: ERTP, Zoe, user-defined contracts (auctions, swaps, DeFi exchanges etc.), VM (SwingSet) that implements JavaScript runtime environment and the Cosmos/Tendermint layer. The project’s team explains how the platform will empower the creation of new kinds of rights and smart contracts in simple ways, while establishing new models of collaboration.
All things considered, I believe that if the future is about to explode — it will be with Agoric platform! Smart contracts based on the newest technologies, easy use and safety for developers and users — they make it all possible!
