Introducing the Agate Blockchain, a complete set of decentralized blockchain-based applications, that provides a comprehensive crypto infrastructure with an ability to support millions of everyday transactions simultaneously on a real-time basis. Just like PayPal, a digital payments platform for making payments in Fiat currency, Agate Blockchain offers powerful ways for users to transact using cryptocurrencies, whether online or offline.
While millions of users are actively using PayPal as a medium for payments, the payments platform has established a global footprint across the globe and is available in more than 200 different markets. It allows users to transact in various Fiat currencies whether they are online, on a mobile device, in an app or in person. Offering convenience for shoppers to make payments in Fiat currency, PayPal also supports businesses and merchants with B2B payments system that manages the receipts for goods being sold locally or internationally. With such world-class services, PayPal has become the center of payments industry and similar to PayPal, Agate Blockchain aims to spread mass-adoption of cryptocurrencies as a preferred mode of payment while eliminating the existing problems present in the current micropayments industry.
Ineffective Ways of Existing Micropayments Solutions:
The slow blockchain settlement timings coupled with the liquidity issues in existing micropayments solutions has rendered cryptocurrencies as an ineffective way of making payments. Further, with an exorbitant rise in the number of cryptocurrencies that require different kinds of specialized wallets to store and transact, it becomes a cumbersome process for users to manage or to track their crypto-assets. Adding to such issues, the volatile nature of cryptocurrency and slow blockchain settlement that even take days to settle a transaction, hinders the adoption of such digital assets, as such delays could lead to a potential loss in the dollar value for merchants who accept such crypto-assets.
Revolving around these problems, while blockchain definitely is a revolutionary technology, cryptocurrencies were never allowed to attain their full potential and garner market attraction within the payments industry. Gathering some of the most brilliant minds within the payments industry, Agate led by a visionary entrepreneur and founder of some of the most successful technology business enterprises, Hamed Taghvaei aims to disrupt the existing micropayments systems with Agate's complete cryptoeconomy solutions that paves way for a mass crypto adoption.
Agate Blockchain – A One-Stop Crypto-Solution:
Developed on 12 different modules, offering a complete crypto-infrastructure, Agate simplifies the payments arena and eliminates volatility, the very nature of cryptocurrencies by introducing its iFiat ecosystem.
Agate's sophisticated architecture allows users to develop their own payment gateways using Agate's open-source API, while the merchants/online stores registered on the platform are powered with the ability to accept multiple crypto-tokens as a preferred mode of payments for the goods and services being sold. Similar to the PayPal network, Agate also supports B2B transactions where users can make payments using cryptocurrencies for the goods or services being supplied.
At the core of Agate's Blockchain is Agate's powered AGT token that fuels most of the operations on the Agate's Blockchain. Additionally, Agate's iFiat ecosystem, a revolutionary technology offers near-instant 3-second settlement speeds and makes the payments instantly available for merchants to be spent or further to be withdrawn in Fiat currency. Every iFiat token in circulation within the Agate's Blockchain is pegged with an underlying asset or Fiat currency in particular and has a 1:1 conversion ratio. A highly stable token, users or merchants at any point of time could use the iFiat ecosystem to convert their existing crypto-holdings into iFiats to realize full dollar-value of their digital tokens while eliminating crypto-volatility.
With 30 million merchants and online stores already onboard, Agate presently supports payments in five different cryptocurrencies that include Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple. A full release of the platform is expected in Q4 2018, which once launched will have the ability to support deposits and transactions in 17 different cryptocurrencies.
A gateway to the Fiat Economy, where users can transact in cryptocurrencies with complete freedom to convert into Fiat currency in real time, Agate brings a revolutionary payments platform that will change the face of existing payments industry. With extremely economical payments system that knows no global boundaries and a redemption support in 25 different currencies in over 50 different countries, Agate is already the future of micropayments solutions with several big-bang developments expected in the upcoming quarters.
To find out more, visit agatechain.org.
Read the white paper here.