Photo by Luca Bravo on Unsplash
In an era where the transition to Web3 dominates tech conversations, the gap between conventional web developers and the blockchain realm becomes evident. Many developers find themselves facing a sharp learning curve, navigating through early-stage tools. This not only extends the development timeline and increases costs but also prevents companies from seizing opportunities in new consumer trends. They are yearning for a platform that resonates with their Web2 experience.
Ethereum and Polkadot have established their presence, and the emerging NEAR Protocol offers some compelling features. But in my exploration of potential solutions, Agoric presents an intriguing approach that warrants a closer look, especially for those keen on finding bridges between these two worlds.
Introducing Agoric
Agoric, a layer-1 proof of stake public blockchain, is built on top of Cosmos SDK which uses Tendermint POS algorithm. With the support of the Inter Blockchain Communications Protocol and the Interchain Foundation, Agoric offers a platform designed for ease. Hardened JavaScript, enabling Web2 developers to migrate seamlessly to Web3 development.
Paving the Way for Web3 Development
Agoric has brought cutting-edge solutions to improve several aspects of Web3 development. Its dual strengths? The rapid development of Dapps and the flexibility of its JavaScript-based smart contracts. This empowers Web2 developers, offering them a familiar terrain in the Web3 landscape.
Both of the former aspects allow it to adapt to market-driven programming where Dapps are built and deployed rapidly so that they benefit from existing market trends and sentiments. Add in cross-chain operability, and Agoric emerges as a distinct frontrunner.
The Role of BLD Token
The BLD staking token plays a pivotal role in securing and governing the Agoric chain and economy. By delegating the BLD token to validators, it ensures decentralized execution. Those who stake BLD tokens are rewarded for their participation, benefiting from staking rewards generated by the new issuance of BLD and a percentage of Inter Protocol fees.
From Zero to Dapp
What makes Agoric so rapid in development is its Default Dapp Template, which can be modified or built upon to create a Dapp in much less time than building from scratch. Follow these three steps:
- Check that you have installed the Agoric SDK. If not, you should do that before continuing.
- Set up the default Dapp template, by installing the Agoric SDK into the Dapp template, and then launch the Agoric Solo Client and Simulated Blockchain.
- Connect to the Agoric Wallet and REPL, setting the stage for smart contract deployment.
- Deploy the smart contract and API, kickstarting the Dapp UI.
At this point, the Dapp is ready to interact with any wallet. You can connect your wallet to perform any transaction in the Dapp.
Secure, Intuitive Smart Contracts
Using JavaScript, Agoric’s smart contracts are a developer’s dream. Web2 developers can use a familiar language, complemented by an extensive JS resource library that has been built over time.
With Hardened Javascript, a practice where JS code is protected from external vulnerabilities and attacks, through fixed components, input validation (protects from SQL injection attacks), and other secure coding practices, they can ensure it is resilient against threats. Dapps on Agoric are not only simple to create, test, and modify but also very secure.
Cross-Chain Interoperability: Expending Web3’s Reach
Web3’s potential is boundless, but without cross-chain features, limitations arise. Agoric’s use of the Inter Blockchain Protocol (IBC) positions it to effortlessly interconnect with any Cosmos-aligned blockchain, expanding Web3’s horizons.
Market-Driven Programming
Market Driven Programming helps you catch market trends with rapid Dapp creation and rollout. Since the developments take place on Hardened JavaScript, it helps you secure your platforms with minimal attention to security.
Expert Insights
Zaki Manian, Director of Research at All in Bits (Cosmos), remarked on Agoric’s potential, stating:
“The prior work of the Agoric founders was one of the key inspirations for the architecture of the Cosmos Network. As we work on releasing the first version of inter-blockchain communication protocol, we expect that Agoric’s smart contract and digital asset architecture will enable trillions of dollars in assets to be managed by networks of blockchains.”
Empowering Web3 with Diverse Solutions
Agoric stands out with its vast application range. The complexity of developing smart contracts is a given, but Agoric turns the table with its chain-agnostic smart contracts, introducing a potential “smart contract as a service”. And with hardened JavaScript, security concerns take a backseat. From crafting secure multi-chain operations like Escrow and Legal Contracts, Agoric’s range is unparalleled.
Conclusion
Agoric introduces one of the most agile software development kits tailored for Web3 development. With Hardened JavaScript, it addresses external threats and simplifies the development process, thanks to its myriad ready-to-use libraries and frameworks. The partnership with Cosmos and IBC’s cutting-edge technology guarantees seamless cross-chain interactions.
Overall, Agoric presents developers with a formidable platform optimized for quick Dapp and Smart Contract formulation, aligning perfectly with current market needs. It extends a sturdy bridge for Web2 developers, guiding them into efficient and secure Web3 development, ensuring a key role in the digital era’s evolution. With such a foundation, there’s little doubt that Agoric is not just a temporary trend; they are shaping the very fabric of the future digital landscape.
