This Crypto Startup is Launching a New Network
If the only thing you love more than dapps is flaunting your JavaScript fluency, then Agoric is your dream come true. If, on the other hand, that last sentence sounded like a foreign language to you, then let’s back up a bit.
“Dapps” is a popular term for decentralized apps. Which are pretty much just like regular apps but decentralized. Dapps cut out the middleman by utilizing smart contracts and blockchain tech to connect users directly over a peer-to-peer network.
And Javascript? It’s a programming language that about 98% of the internet is built on. So now that we’re all on the same page, let’s get back to Agoric and what they’re up to.
What is Agoric?
Agoric is an open-source development company founded by a team with decades of collective experience. These guys have been working on smart contracts since the term “blockchain” was just a gleam in a developer’s eye.
But what exactly does Agoric do?
The company currently describes itself as “an interoperable Proof-of-Stake chain in the Cosmos ecosystem. Our JavaScript smart contract platform enables 15M+ developers across the globe to rapidly build and deploy dapps on-chain.”
WTF Translation: Agoric is an excellent online ecosystem for developers who dig using JavaScript. There they can use the time-honored coding language of their people to build smart contracts and dapps. Cooler yet, there’s also a bigass library of pre-built reusable components that developers can use for their own creations.
Agoric’s Plans for the Future
In November of 2021, Agoric launched the first phase (Phase 0) of its public mainnet rollout and its native staking token, BLD.
But this is only the beginning, as Agoric plans three additional phases in the future. Just a heads up that these future plans may make more sense to some readers than others.
Sometimes it’s easier to wrap your head around a company like Agoric by looking at examples of what people are actually using it to do. This brings us to the company’s latest announcement.
Agoric just announced five new upcoming dapps, all of which do a great job of showcasing what’s possible on the company’s platform. Let’s check out what some of Agoric’s developers have been up to.
KREAd
If you’re into NFTs, you’ll love this one. Developed by Kryha, KREAd will be a unique new dapp that allows users to design their own characters.
The cool thing is that all of the visual components are actually NFTs. In other words, you’ll be able to go around creating or buying cool hair NFTs or pieces of clothing.
You can then use them to build your own character or sell them to other users.
LH2 Staking
LH2 Staking was developed by RBF Labs to make Agoric even more decentralized than it already is. The whole concept is to even the playing field for proof-of-stake validators.
To keep any validator from getting too big a piece of the pie, LH2 Staking scores each validator’s health. So if you’re a high-quality validator but aren’t having much luck, then the liquid staking algorithm is designed to help.
When the stake is re-distributed, validators with lower health scores will get a little extra boost.
Crabble
Designed by BytePitch, Crabble is one of those projects with loads of obvious potential. It’s designed to allow utility NFT owners to rent their assets to other users for a short time.
To understand why this is such a brilliant idea, you first must understand that NFTs aren’t limited to digital art alone. Instead, utility NFTs are those that can actually be used for something beyond looking pretty.
Maybe they’re tickets to an event, come with exclusive access benefits, or include digital assets that can be used in a game. Crabble is out to help creators rent out any utility NFT that others would pay to borrow.
QuickWork
QuickWork is a collaboration between AgreeWe and Agoric that will make hiring developers much easier. Say that you’re a DAO, start-up, or Web3 community looking to bring a great developer on board.
QuickWork will have your back by providing an easy way to hire someone on a project-to-project basis. Included will be everything you need to replace traditional employment paperwork or contracts.
You’ll be able to pay the developer with either a traditional payment or with the token of your choice. The hope is that this simple system will help open up new possibilities for killer developers and start-ups alike.
Calypso
What will Calypso do? A little bit of everything, really. Developed by Joe Schnetzler, Calypso aims to be the only blockchain operating system you’ll ever need.
When you sign up for a Calypso wallet, you’ll be able to use it across over 60 different chains to manage a full-on DeFi portfolio. Calypso is out to provide users with a convenient way to manage their crypto, NFTs, and stake for various chains all in one place.
It’ll also have built-in features like a relayer that eliminates relying on third parties for transactions. You’ll also be able to do interchain research and find the best liquidity prices for trades regardless of what chain they happen to be on.
As you can see, Agoric is probably a name that will become much more familiar in the future. However, if you’re a developer, it’s not a bad idea to get in on the ground floor and let Metcalfe’s Law work its magic.
But even if you’re not techy, Agoric is still worth following. As more developers get in on what it offers, more awesome dapps are sure to follow.
Sources
https://www.infostor.com/nft/nft-utility-examples-ideas-best-nfts-with-utility/
