►
Description
A brief overview of Agoric's toolset for building smart contracts that are robust and truly composable, all in JavaScript.
A
What
I
want
to
do
today,
in
the
short
time
that
we
have
is
go
over
a
few
of
the
specific
tools
that
agora
gives
you
as
a
developer
to
let
you
rapidly
compose
secure
smart
contracts,
talk
in
enough
depth
to
give
you
a
sense
of
how
they
work
without
going
into
way
too
much
detail.
You
know
our
documentation
is
pretty
extensive,
so
anyone
that
wants
to
go
deeper.
A
You
know
there
are
some
mindset
shifts
that
agoric
forces
but
allows
you
to
have
which
are
important,
and
I
want
to
at
least
touch
on
those
and
then,
lastly,
give
you
a
sense
of
you
know,
ideas
of
where
to
start,
if
you
did
want
to
start
building
on
agorik.
So
that's
sort
of
my
my
high
level
goal
and
jeff.
You
know
if
any
questions
or
anything
to
add
happy
to
happy
to
let
you
chime
in.
A
A
A
So
ertb
really
defines
that
layer
of
of
building
on
a
blockchain,
which
is
you
know
again
the
critical
part
there
is
coming
to
consensus
over
how
assets
work
and
ertp
in
negorik
really
controls
how
those
things
happen
so
to
go
through
some
of
the
specific
ertp
con
constructs.
A
new
asset
is
created
with
a
mint
and
a
given
mint
can
only
create
one
type
of
asset
and
only
one
mint
can
create
an
asset
of
a
given
type.
So
basically
one
to
one
for
for
a
given
asset.
A
A
So,
just
like
a
mint
there's
only
one
issuer
for
a
given
brand
and
only
one
brand
per
issuer.
So,
if
you
think
of
it,
basically
for
any
given
asset,
you've
got
one
mint
one
issuer
and
one
brand
that
work
with
it,
and
those
are
the
things
that,
under
underneath
the
layer
of
the
developer,
they
control
how
assets
are
created
and
managed.
A
Okay,
so
asset
creation
happens
through
mints
issuers
and
mints
and
issuers,
but
ertp
also
defines
how
assets
can
get
transferred,
which
is
actually
an
important
departure
from
what
you
see
in
other
web3
development
areas,
so
just
to
go
through
the
specific
transfer
mechanisms,
an
asset
assets
are
held
by
users
and
contracts
in
what
we
call
a
purse
and
the
creation
of
purses
is
done
by
an
issuer.
So
the
issuer
that's
connected
to
the
minton
brand,
also
creates
and
manages
purses
and
anyone
interacting
with.
A
For
example,
the
asset
with
of
the
brand
run
will
have
could
have
multiple
purses
that
are
multiple
run,
purses
that
got
created
by
the
run
issuer
and
the
run
mint
controls,
the
creation
of
run
okay
to
move
an
asset
between
purses
so
in
in
to
conduct
a
transfer.
What
you
actually
do
is
you
deposit
value
into
a
payment
and
so
that
payment
value
is
deducted
from
a
purse
and
a
payment
has
a
recipient
and
only
the
recipient
can
deposit
that
payment
into
the
recipient's
purse.
A
So
we've
now
defined
sort
of
how
a
transfer
can
actually
occur
with
value
inside
ertp.
So
you
have
a
purse
that
holds
an
asset
of
a
specific
brand,
so
say
I've
got
100
run.
If
I
want
to
send
50
run
to
jeff
here,
I
encode
create
a
payment
with
50
run
in
it.
I
send
that
payment
to
jeff
jeff
receives
the
payment
object
using
the
issuer.
He
can
verify
that.
Yes,
this
is
truly
run
which
he
expects
to
receive
and
then
using
the
mechanisms
in
ertp.
A
He
can
deposit
that
payment
into
his
purse,
which
then
burns
the
payment
and
ensures
that
the
value
is
conserved
between
the
payment
object
and
his
purse
value
change.
So
thank
you.
Thank
you.
Yeah
you're
welcome,
jeff,
you've
done
a
great
job
and
I
think
you
deserve
50
run.
So,
thank
you
and,
and
so
again
you
know
I
I
don't
want
to
go
too
deep
into
this,
but
that
hopefully
gives
a
quick
overview
of
what
ertp
provides
in
the
agoric
smart
contract
framework
layers.
C
I
have
a
quick
question
roland
that
that
might
help
some
of
the
audience.
So
are
there
kind
of
analogies
to
ertp
or
things
people
might
be
familiar
with
in
relation
to
rtp?
That
can
help
them
frame.
You
know
what
what
ertp
is
doing.
You
know,
are
there
examples?
You
know,
maybe
you
have
other
examples
in
this
space
or
or
the
way
people
might
be.
Thinking
of
you
know,
asset
transfers
traditionally.
A
Yes,
and
and
actually,
rather
than
giving
something
that's
similar,
I
think
it's,
it's
maybe
useful
to
contrast
it
with
what
people
may
be
used
to
if
they're
familiar
with
ethereum
and
the
erc20
standard,
so
in
in
ethereum,
most
fungible
tokens
are
created
using
the
erc20
standard,
which
you
know
was
was
written
in
you
know
several
years
ago
and
I
think
there's
a
open,
zeppelin
implementation
of
it.
That's
the
primary
thing
that
gets
used
and
if
you
look
at
that
erc20
standard
that
actually
defines
what
happens
with
asset
transfer.
A
So
when
you
are
copy
pasting,
the
code
into
your
contract
for
erc
20,
you
are
effectively
reimplementing
asset
transfer
in
in
the
code
for
that
contract
and
what
what
asset,
what
it
means
to
actually
hold
an
asset
in
the
ethereum
world.
Is
you
have
a
balance
in
the
contract
which
has
a
value
associated
with
it
and
to
modify
that
balance?
You
need
to
have
authority
to
change
change.
A
All
of
that
happens
underneath
the
hood
at
the
ertp
level,
which
ensures
that,
if
I'm
sending
a
payment
to
jeff
that
that
payment
either
gets
there
and
he
receives
it
and
the
payment
itself
gets
burned
or
or
it
fails
in
some
fashion,
and
I
get
it
back,
and
so
that's
sort
of
an
important
distinction
is
just
thinking
about
how,
in
in
other
frameworks
specifically
building
on
ethereum
you're,
you
are
re-implementing.
These
low-level
constructs,
which
include
transfer,
which
allows
you
as
a
developer
to
accidentally
mess
it
up
right.
A
You
know,
I
think,
there's
plenty
of
people
that
have
done
it.
You
used
erc20
implemented
it
correctly,
but
then
the
temptation
is
always
there
to
say.
Oh
I'd
like
this
additional
functionality
around
transfer
and
now
suddenly
you
have
a
bug
in
your
code
and
something
something
happens
which
you
know.
A
If
you
look
at
look
at
hacks,
it's
sort
of
roughly
once
every
couple
weeks
something
something
connected
to
something
like
this
is
occurring:
okay
and
I'll
go
into
a
little
more
detail
as
well
as
I
go
into
start
talking
about
zoe
and
how
that
differs
from,
for
example,
uni
swap
transfer.
Is
that
does
that
answer?
The
question,
though,
santee.
A
A
Okay,
all
right
so
ertp
is
probably
as
a
developer
on
agoric
ertp
is
the
lowest
layer
you
probably
have
to
interact
with
the
other
area.
That
I
mentioned
is
the
smart
contract
framework,
which
we
call
zoe,
which
is
named
after
a
character
in
firefly
long
before
I
joined,
so
I
don't
know
the
full
history
there,
but
in
I
guess,
zoe
provides
a
couple
things
to
you
as
a
developer,
but
the
the
core,
the
core
thing
that
it
provides
and
mindset
shift.
A
That's
important
is
that
it
gives
you
what
we
call
offer
safety
and,
as
a
I
guess,
as
a
contrast
again
to
the
web
3
world.
You
know
the
existing
web
3
world
most
blockchains.
The
basic
unit
of
interaction
is
a
transfer,
so
I'm
sending
some
asset
to
some
other
address,
and
you
may
have
heard
dean
talk
about
this
in
one
of
the
earlier
talks
this
week.
C
A
Please
yeah!
So
when
you
make
a
transaction
on
unit
swap
you
are
saying,
send
my
money
of
this
token
type
to
uniswap's,
swap
in
function
and
then
effectively
yours.
You
are
hoping
that
uniswap
processes,
things
correctly
and
money
comes
out
and
you
receive
it
in
your.
You
know
a
separate
token
comes
out
and
you
get
it
in
in
your
wallet
and
it's
actually
worse
than
that.
It's
you're
not
just
sending
money
you're,
making
two
transactions.
A
The
first
transaction
says
I
will
approve
the
uniswap
contract
to
manage
the
token
contract
of
the
token
I'm
trying
to
trade.
What
you're
doing
is
you're
giving
the
uniswap
contract
an
allowance
that
it
can
spend
on
your
behalf
for
a
token
value
and
then
you're
making
a
second
transaction
which
says:
okay,
I've
given
you
this
allowance,
so
now
use
it
to
spend
it
in
this
way,
which
is
send
it
to
this.
A
You're
you're,
giving
access
to
your
assets
to
a
contract
that
you
don't
know,
and
then
you
are
sending
money
to
a
function
and
then
hoping
that
the
right
stuff
happens
and
something
else
that
you
wanted
to
happen
happens
on
the
other
end
right,
you
get
the
amount
of
tokens
that
you
asked
for.
Nowhere
in
that
flow
did
you
say
actually
what
I
what
I
need
on
the
other
side.
A
Is
this
amount
you
send
that
into
use
swap,
and
you
hope
that
uniswap
processes
it
correctly,
but
there's
nothing
else
that
guarantees
that,
on
the
agoric
side,
the
way
we've
implemented.
Our
our
basic
unit
of
interaction
is
through
an
offer
which
says
in
your
wallet
when
you
are
approving
that
you
want
to
take
an
action.
A
You
know
your
transaction
specifies
both
what
you
will
give
and
what
you
will
receive,
and
even
if
the
code
written
between
the
swap
in
and
swap
out,
functions
on
the
unit
swap
equivalent
is
buggy
or
compromised
in
some
way,
the
smart
contract
framework
ensures
that
you
get
back
what
you
gave
or
you
got
what
you
wanted
and
in
a
lot
of
cases.
What
this
actually
means
is
that
the
contract
code
itself
never
actually
has
any
control
over
your
assets.
A
It
has.
It
has
control
over
the
rules
for
how
re-assets
can
get
reallocated,
but
you,
as
the
user,
are
the
primary
decision
maker
on.
Do
I
accept
this
reallocation
or
not,
and
so
that's
really
what
we
mean
by
offer
safety
and
so
I'll
take
a
a
pause
there.
Any
any
questions
on
that
or
is
there
anything
else
that
would
be
helpful
to
expand
on
and
happy
to
take.
You
know
listener
questions
too.
B
A
So
with
those
levels
of
assurance
around
how
the
system
can
function
and
how
users
can
behave
and
how
contract
developers
can
think
of
not
only
their
own
code
but
third-party
code
that
they
want,
they
might
want
their
users
to
be
interacting
with
we.
We
believe,
fundamentally,
that
that's
going
to
unleash
a
whole
new
level
of
composition
that
just
really
isn't
possible
right
now,
because
because
there
is
so
much
control
at
the
low
level-
and
so
you
know,
I
think,
dean
our
our
ceo,
often
often
likens
it
to
memory
safety
in
computing.
A
You
know
there's
a
lot
of
times
where
writing
in
a
non-memory
safe
language
is
important
because
you
need
absolute
speed
or
or
something
along
those
lines,
but
it
was
so
difficult
to
write
composable
software
and
to
avoid
bugs,
when
you
had
control
of
those
over
those
low-level
elements.
We
think
that
there
is
sort
of
a
strong
analog
here
with
asset
creation,
management
and
transfer,
and
so
you
know
the
one
other
piece
to
mention
before
I
sort
of
move
on
to
higher
level
constructs.
Is
the
I've
been
using
a
lot
of
fungible
token
examples?
A
You
know
money
or
or
just
tokens
that
people
are
used
to
to
thinking
about,
but
ertp
and
zoe
also
operate
on
nfts
as
well.
So
you
know
fungible
tokens,
non-fungible
tokens,
semi-fungible
tokens
all
are
managed
through
this
framework
and
all
can
interact
in
consistent,
predictable
and
hopefully
much
more
secure
ways.
A
Okay,
so
I
I'll
I'll
move
on
now
to
higher
order
composition
and
what
does
agora
provide
you
to
you
as
a
developer
in
this
realm?
So
I
I'm
gonna,
I'm
gonna
just
take
one
one
example
here,
which
is
as
a
developer
when
you're
deploying
code
to
the
agorik
chain.
You
do
that
with
zoe
by
creating
what
we
call
an
installation
and
an
installation
is
a
representation
of
the
code
on
on
chain
and
that
code
importantly,
can
be
instantiated
multiple
times.
A
So
it
means
that
you
have
a
canonical
contract
on
chain
which
may
have
parameters
that
are
changeable
by
governance
or
something
along
those
lines
that
can
get
instantiated
hundreds
of
times
if
necessary,
and
you
know
to
be
more
concrete.
A
lending
protocol
could
could
get
installed
on
chain
with
different
governance
parameters
for
how
assets
get
added,
how
the
actual
interest
rates
get
changed.
Things
along
those
lines,
and
then
you
know
after
it
gets
battle
tested
for
two
years,
could
be
instantiated
by
somebody
new
that
that
wants
different
choices.
A
Right
you
see
in
in
ethereum
compound
was
an
early
lending
protocol
and
cream
came
along,
and
you
know
I
think
the
code
is
quite
different,
but
their
their
models
effectively
differed
in
the
sense
of
compound
what
has
been
very
slow
to
add
assets
because
they
want
to
be
very
secure
and
they
want
to
be
very
sure
that
they're
only
adding
assets
that
are
are
stable,
whereas
cream
is
basically
just
said.
Nope
we're
gonna,
we're
gonna
go
nuts
and
add
whatever
assets
we
can
and
sort
of
operate.
A
That
way,
and
that's
something
that
you
know
on
agoric
that
could
happen
quite
easily
without
having
to
rewrite
the
whole
lending
code.
You
know
you
could
at
least
be
sure
that
the
code
that's
been
operating
for
a
year
that
you
now
instantiate
with
new
parameters
is
still
is
still
the
same
code
and
it's
strong
so
beyond.
A
So
it
uses
a
certain
liquidation
methodology
to
start
with,
but
we
know
that
as
the
market
evolves
and
as
new
things
become
possible,
we'll
want
to
change
that,
and
so
that
is
something
that's
changeable
on
chain
and
could
be
instantiated
and
I'm
getting
a
couple
messages
that
say
that
my
audio
is
not
coming
through
all
that.
Well,
I.
A
A
But
one
of
the
things
that
we're
really
excited
about
doing
is
extending
that
capability
with
insurance
and
so
agorik
has
been
working
with
realm,
which
is
a
regulated
smart
contract
insurance
or
a
regulated
insurance
company,
and
they
are
offering
the
first
or
one
of
the
first
insurance
contracts
or
insurance
products
for
the
correct
execution
of
smart
contract
code
and
the
the
the
critical
piece
there
is
that
it
is
regulated
insurance.
So
some
of
you
may
be
familiar
with
products
like
nexus,
mutual
or
others
that
exist
currently,
where
largely
it's
effectively
insurance
implemented.
A
As
a
betting
pool,
which
works
well
as
as
insurance
but
doesn't
meet
the
requirements
of
financial
institutions,
this
is
the
differences.
We
want
to
make
sure
that
we
are.
You
know
if
a
hedge
fund
or
a
pension
fund
or
something
like
that,
wants
to
be
able
to
participate
in
d5
applications
that
are
being
built
on
chain.
A
A
That's
installed
on
chain,
you
can
instantiate
that
that
will
be
insured.
You
can
instantiate
it
yourself
and
now,
at
least
that
portion
of
your
code
is
eligible
for
insurance
automatically,
so
that
that's
where
we
see
this
going
and
we're
just
so
excited
to
to
see
how
you
know
new
components,
new
contracts
get
built
out,
get
insured
and
allow
people
to
just
quickly
build
you
know
institutional
capable
defy
without
having
to
be
the
size
of.
A
B
I
just
want
to
just
ask
you
from
I
mean
that
sounds
what
you're
doing
isn't
totally
amazing
and
like
a
breakthrough,
have
you
considered
the
idea
that
some
of
the
core
tech
you're
building
will
be
used
in
other
industries
outside
of
finance,
because
I
happen
to
be
a
big
fan
of
a
term.
I
created
a
recently
called
programmable
communications,
which
is
sort
of
like
programmable
securities,
except
it
affects
the
way
people
communicate
and
I'm
thinking
of
everything
you're
doing
actually
could
help
me
and
my
quest
of
redefining
the
way
we
communicate.
A
Yeah,
so
a
hundred
percent
and
and
actually
that's
a
great
question
as
a
as
a
segue
into
where
I'm
going
here,
which
is
you
know
for
for
those
of
you
that
are
trying
are
listening
to
this,
and
you
know
if
you're
new
to
the
web
3
world,
you
may
be
wondering
sort
of
what's
the
right
way
to
what's
the
right
way
to
get
involved.
What
are
the
kinds
of
things
that
you
should
build?
A
What
I
would
say
is
the
it
feels
very
financialized
right
now,
and
the
reason
for
that
is,
I
think,
effectively
structural,
which
is
as
a
blockchain.
What
started
first
was
money,
and
then
there
were
a
lot
of
assets
sitting
around
without
much
to
do,
and
the
first
products
that
made
use
of
those
existing
users
were
financial
products
that
let
people
do
things
financial
things
with
their
financial
assets
right.
A
So
you
know
you
saw
in
2020
2021
d5
applications
were
really
the
thing
that
was
hot
and
the
thing
that
people
were
building
and
where
all
the
evolution
was
and
now
that's
starting
to
expand
right
as
we
get
more
users
into
the
system,
more
users
with
wallets
that
are
familiar
with
how
to
interact
with
these
products.
We'll
see
an
expansion,
and
we
already
have
right.
A
You
know
the
nft
boom
is
the
start
of
something
much
larger
and
I
you
know,
I
know
it's
easy
to
dismiss
things
as
images
or
something
along
those
lines,
but
really
nfts
will
be
also
how
we
represent
property
rights,
and
you
know
so,
there's
there's
a
huge,
huge
amount
of
possible
growth
that
will
happen
outside
of
the
pure
financial,
realm
and
and
yeah.
You
know
everything
that
I'm
talking
about
that
will
be
possible
for
finance.
A
C
A
Yeah-
and
you
know,
I
will
say
that
I've
been
pretty
heads
down
on
a
gork
for
a
little
while,
but
I
think
the
ecosystem
that
agorak
is
launching
into
the
cosmos
ecosystem
has
some
of
the
most
exciting
stuff
being
built.
In
my
mind.
You
know,
I
think
they're,
especially
in
blockchain
they're,
sort
of
hype
cycles
and
things
like
that,
and
I
the
market
often
gets
to
a
point
where
it's
just
really
hard
to
distinguish:
what's
a
good
product
and
what's
not,
but
what
I
found
is
everything
being
built
on.
A
The
cod
in
the
cosmos.
Ecosystem
has
largely
kind
of
avoided
those
hype
cycles
and,
as
a
result,
it's
all
just
interesting
people
that
care
a
lot
about
building
the
technology
out
the
right
way
and
are
working
to
do
it
and
it's
decentralized.
So
there's
disagreements
all
the
time,
but
I
just
I'm
really
excited
to
see
how
this
evolves
over
the
next
year.
Or
so
you
know,
I
I'm.
A
I
also
have
sort
of
interests
in
other
specific
narrow
niches
at
the
at
the
business
level,
but
I
think
you
know
between
that
and
looking
at
decentralized
file
storage-
and
you
know
oracle's-
that
that's
kind
of
where
I
see
things
getting
interesting
over
the
next
few
years
and
so
yeah.
It's
great,
no,
no
go
ahead,
go
ahead!
Yeah,
sorry
and
I
realized
I'm
at
times
so
just
just
to
close
out
here.
A
You
know
I
think,
if
you're
interested
in
engaging
with
us
more,
you
know
I'd
I'd,
encourage
you
to
join
a
gorgeous
discord.
Follow
us
on
twitter.
Come
to,
you
know,
take
a
look
at
our
documentation.
Come
come,
ask
questions.
Tell
us
where
we
still
have
gaps.
You
know
we're
we're.
Launching
our
chain
is
live
already,
which
is
just
the
cosmos,
cosmos
level
chain,
we're
launching
our
vm
smart
contract
framework
and
our
applications
early
this
year
and
then
a
permissionless
main
net
we're
targeting
sort
of
later
this
year.