Agoric Blockchain: 1-Minute Fundamentals
Agoric seeks to save developers time by offering composable, pre-built smart contract components and decentralised applications.
Agoric is a Cosmos-based blockchain and can leverage the IBC protocol, potentially ensuring greater adoption, participation and liquidity interactions from other IBC-enabled blockchains.
Currently, there are more than 800,000 reusable packages on Node.js’s npm. Ninety-seven per cent of modern web application code is from reusable packages; only 3% is newly written code.
Hence, the Agoric blockchain seeks to enable safe composability and npm-style reusability for blockchain use-cases. This strategy could make it easier for developers to deploy smart contracts on the blockchain.
There is a slew of L1 blockchains vying for developer attention, and Agoric faces tough competition from these blockchains. Agoric may have to prove its usefulness beyond market-specific narratives like privacy. Perhaps its focus on onboarding developers with the most popular programming language in the world could be a strong value proposition.
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