Agoric refers to a system designed for secure and efficient smart contracts and decentralized applications. It emphasizes an environment where different components can interact seamlessly while maintaining security.This system uses concepts from economics and computer science, allowing participants to create contracts and services without needing to trust one another. The focus is on composability, meaning various features or services can be combined easily, enhancing versatility. Agoric employs a unique approach to programming and guarantees that contracts are both secure and predictable. Developers can create applications that automatically execute terms when certain conditions are met. This reduces the need for intermediaries, thus lowering costs and increasing efficiency.The name derives from the idea of a market where participants can trade value without friction. By leveraging the benefits of distributed systems, Agoric aims to create a more robust and scalable ecosystem for decentralized applications.