Agate, a newly launched decentralized blockchain, offers comprehensive crypto infrastructure for everyday banking and merchant transactions. With one of the highest transaction speeds and a near-instant settlement time, at substantially low-cost transaction fees, Agate is the future of payments arena. Fueled by its independent AGT token, which is utilized for several use-cases within the Blockchain ecosystem, Agate introduces its iFiat ecosystem that offers stability in converting crypto-assets to Fiat currency. This enables a merchant to easily adopt Agate’s crypto-payments platform without risking volatility of such digital assets.
Agate’s infrastructure provides several merchant facing functionalities that allow e-Commerce stores, as well as traditional brick-and-mortar chains, introduce cryptocurrencies as a preferred mode of payment. With the widespread adoption of cryptocurrencies, users on the community can finally find functional utility of their crypto-assets without any geographical barriers. Additionally, merchants are allowed to adopt cryptocurrencies as their preferred mode of payment, while eliminating the volatility risk along with transaction costs that are widely prevalent in the traditional payment methods.
Introducing Agate’s iFiat Ecosystem:
A core element of Agate’s Blockchain, the iFiat ecosystem is a decentralized technology the resolves the core problems revolving within the cryptoeconomy. Agate introduces iFiat, a Fiat pegged cryptocurrency that is highly stable in nature and works like a fiat credit. All iFiats are issued within the Agate’s blockchain ecosystem and each iFiat in circulation is valued at a 1:1 ratio to its underlying assets, say for instance 1 iFiat USD = 1 US Dollar.
Integrating the iFiat ecosystem within Agate’s payments arena, Agate’s Blockchain will support the payments from over 17 different cryptocurrencies. Every time a customer makes a payment on Agate’s Blockchain platform, the iFiat ecosystem triggers the conversion of such cryptocurrency into an iFiat. With near-instant settlement speed, the crypto-payments are settled and instantly available for merchants to spend or to withdraw, enabling them to realize full dollar-value of the products and services being sold.
With Agate’s Mainnet scheduled to launch by Q1 2019, the iFiats being converted from cryptocurrencies are stored on a stable Agate’s blockchain making it a viable, secure and transparent medium for making payments. With several advantages to the Agate’s iFiat ecosystem mentioned below, Agate brings a revolution within the entire cryptoeconomy:
Advantages of Agate’s iFiat Ecosystem:
– iFiats are processed in a cryptographically secure environment and circulated within the Agate’s Blockchain and thus enabling real-time instant settlement speeds while securing the full dollar value for merchants. Redemption of an iFiat into Fiat currency never faces any pricing or liquidity concerns.
– With iFiats conversions running on Agate’s fastest decentralized blockchain platforms that includes decentralized exchange (DEX) coupled with wallet encryption and multiparty security, all the transactions are recorded permanently in the tamper-proof Agate’s Blockchain explorer.
– An easier to implement and understand, for merchants, iFiat ecosystem facilitates simpler adoption of cryptocurrencies as a mode of payment.
– Although being fully redeemable, a recommended way for merchants to spend their iFiats is using the following ways:
o Instant loading onto Virtual or Physical Debit Card
o Request to transfer to Bank account
o Making utility bill payments
o Generating Agate’s crypto voucher, redeemable at all Agate merchant outlets
This enables a faster and low-cost way of redemptions while making sure merchants are facilitated throughout the process.
Agate’s Decentralized iBucket:
One of the important elements of iFiat ecosystem is iBucket, a decentralized wallet that manages a user’s iFiat token. With the present support of USD as a Fiat currency, Agate plans to launch the support of several other currencies such as EUR, GBP, JPY, and AUD.
While the iBucket wallet supports storage of iFiat tokens, users willing to benefit from cryptocurrency volatility will have the freedom to receive the highest value of their crypto-assets in times of bullish markets. Agate integrates a state-of-the-art Agate AI Engine and Agate Trading Bot that notifies a user of the very best moment to convert their crypto-holdings into iFiats for realizing a better dollar value than the present market conditions.
With a support of 17 different cryptocurrencies, users can deal in the volatility of crypto-market and earn additional income using the crypto-payments.
While allowing the best dollar value with an ability to easily redeem into Fiat currency, iBucket wallet is a decentralized wallet that can be used to store up to 17 different cryptocurrencies while having the freedom to spend their crypto-assets anywhere – in store or online.
With substantially low transfer costs (0.01 AGT), secure transactions on Agate’s Blockchain network and support of a stable cryptocurrency iFiat, the Agate’s iFiat ecosystem holds the potential to bring a revolution within the payments arena while paving the way for traditional merchants to add cryptocurrency as their preferred mode of payments.
To find out more, visit https://www.agatechain.org/
Read the white paper here.
Name: Hamed Taghvaei
TG Group: https://t.me/AgateChain_Group