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Smart contracts company From Wikipedia, the free encyclopedia
Agoric Systems Operating Co is a startup developing a distributed interoperable object capability platform for smart contracts, using a subset of JavaScript as a secure alternative to perceived flaws in the Solidity language.[7][5] The Agoric platform is built on top of the Cosmos SDK and uses the Tendermint proof of stake consensus engine.[8][9][10] It enables developers to create decentralized applications and contains built-in decentralized finance primitives[8] such as collateralized loans or options.[11]
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Industry | Cryptocurrency |
---|---|
Founded | March 16, 2018[1] |
Founders | Mark S. Miller (chief scientist) Dean Tribble (CEO)[citation needed] |
Headquarters | San Francisco, California[5] |
Key people | Chip Morningstar[6] |
Website | agoric |
Agoric is part of the Inter-Blockchain Communication (IBC) protocol working group, together with Cosmos Network contributor Tendermint, and the non-profit Interchain Foundation,[12][13][14] which has funded Agoric and awards grants towards Cosmos development.[15]
Agoric was announced in May 2018, with a founding team consisting of computer scientists Mark S. Miller, Dean Tribble, and Brian Warner, and economist Bill Tulloh, and with a seed investment from backers including Naval Ravikant, Polychain Capital and Electric Coin Company (then Zcash Company).[16][non-primary source needed] The name "agoric" comes from the Agoric Open System Papers,[17] published by Miller with K. Eric Drexler in 1988, which laid out the concept of software agents creating and participating in markets for digital assets and computational resources.[18]
The founders, as well as software engineer Chip Morningstar, came together once again to realize Phil Salin's vision of a transaction-oriented global marketplace, after working together on various projects since the 80's.[19] Miller and Tribble worked in the late 80's at Xerox PARC on the Vulcan language,[20] were lead architects of Project Xanadu,[21] and later worked on the E language.[22] Tulloh met Miller in August 1989 at the American Information Exchange (AMIX), part of Autodesk together with Xanadu.[23][24] The two later co-directed George Mason University's Agorics Project (which researched market-based computing ideas from the viewpoint of the Austrian school of economics)[25] and co-authored papers on software security.[26][27] Tulloh also worked as a market manager at AMIX,[3] where Chip Morningstar was chief architect.[28] Morningstar had also worked with Miller at Xanadu[29] and on E; he joined Agoric in January 2020.[6] Brian Warner worked with Zcash founder Zooko Wilcox-O'Hearn (Agoric investor and advisor[30]) on the Tahoe-LAFS distributed file system[31] and later on a security review of Ethereum[32] which identified the re-entrancy bug that enabled The DAO hack of 2016.[5] In 2017, Warner and Miller participated on a panel on blockchains and object capabilities organized by The Foresight Institute.[33]
Agoric launched its testnet in September 2019, featuring Cosmos SDK integration, an Electronic Rights Transfer Protocol, and an inter-chain communications protocol as a precursor to the IBC.[9]
In October 2020, Agoric announced the integration with Chainlink oracles, which can provide reliable market price and activity data.[34][8][35]
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