What Is Agoras?February 21, 2018
In the world of blockchain technology, we often see projects created on top of existing solutions which seemingly fly under the radar. In the case of Agoras, it is a solution built on top of Tau-Chain, which aims to allow users to implement virtually any peer-to-peer network. Agoras looks to improve upon this concept by being a “smart currency”.
What is Agoras Exactly?
To understand Agoras, we first need to explain the Tau-chain principle. That particular ecosystem is a generalization of many centralized and decentralized peer-to-peer networks including blockchain ventures. It has many different use cases ranging from software development to gaming and even decentralized storage. Agoras is an application running over Tau and offers a smart currency with a strong focus on peer-to-peer contracts.
So how Does Agoras Work Exactly?
While Agoras has all of the benefits of Tau-Chain, it also seeks to improve upon the existing concept. Becoming a smart currency will not happen overnight unless there is some solid technology to make this happen. Agoras benefits from smart contract technology, which operates in true peer-to-peer fashion.
For corporations, Agoras is a solution worth exploring. Companies often want to keep things private, and the smart contracts designed to accommodate such transactions are sufficient to make that happen. Agoras wants to focus on meaningful smart contracts first and foremost. This means these agreements will always adhere to predetermined settings and requirements, without any surprises for either party.
Additionally, Agoras will be more than just a currency. Renting computational resources, building a trustless ecosystem and introducing a decentralized and incentivized search engine are some of the options currently being explored by the team. It’s quite a tall order, though, and it remains to be seen whether or not the team can deliver on all of these promises.
The Agoras Token Explained
Once all of the technology is in place, Agoras Tokens – or AGRS – will be used to pay for all services and products offered in the various markets. It is also the main currency for all peer-to-peer smart contracts issued in this ecosystem. Bills are automatically settled once work is complete and verified. It is possible other use cases will be added for AGRS in the future, especially once the project matures a bit.
What is on the Horizon for Agoras?
It is evident the future of Agoras is closely entwined with what Tau-Chain will bring to the table in the future. Beyond getting this token added to more exchanges, the team is hard at work building up the infrastructure. For now, the Tau-Chain roadmap involves finalizing the Tau Meta Language, releasing an alpha build of the ecosystem, and potentially releasing a beta later this year. Once all of those tasks are completed, the focus will shift toward further advancing the Agoras Tokens project as well.
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