AGATE - The World' Foremost E-commerce Blockchain Explained


Published on 25 Aug. 2018
Agate

What is Agate?

Agate is a recently developed decentralized blockchain and an inclusive infrastructure for cryptocurrency for merchant transactions and conventional banking. Agate aims to radically alter the current crypto-economy by resolving several limitations related to other crypto platforms such as volatility etc. This complete set of decentralized blockchains come with an ecosystem, two mobile applications, API suite, add-on plug-ins and a physical POS terminal create an entire infrastructure for routine banking operations and a gateway for connecting with developers, users, online merchants and users of crypto-currency.

Many other cryptocurrency payment platforms and solutions are impractical cause of their slow blockchain settlement process, and low availability of coins restricts the user's ability to transact, rendering the crypto-payment platforms inefficiency and low levels of awareness within consumers regarding usage of crypto-currency and crypto-assets as an alternate mode of payment.

Agate’s advanced architecture allows usages and management of almost 17 different cryptocurrencies along with its mobile application serving as a single stop solution for the provision of an entire set of decentralised blockchain applications in twelve separate modules. It has four different layers:

The Multi-Blockchain Architecture.

Agate Blockchain takes the best feature from every blockchain network creating a package with the best features till date and is one of the most efficient ecosystems. Agate Blockchain remains agile and economical for providing complete solutions to users at one place. The Agate Blockchain architecture has different layers which are.

• Different Cryptocurrencies on the different blockchain

The AGT coin, which as an ERC 20 compatible cryptocurrency is at the heart of each transaction within the Agate Blockchain ecosystem. Users can currently store, deposit and transact in five cryptocurrencies which are the Bitcoin, Litecoin, Ethereum, Ripple and Bitcoin cash and is working towards adding more cryptocurrency compatibility, and as per estimation, by the 4th Quarter of 2018, Agate is expected to be compatible in handling a total of 17 different types of cryptocurrencies.

• Agates User and Merchant Applications

It is designed to handle many transactions at once with almost instant settlement speeds. It offers an ecosystem while providing the users and merchants with a vast array of applications to make adoption of crypto-currency a simple affair.

The features of user applications include a multi-currency exchange wallet, exchanging cryptocurrency to iFiat, iBucket Wallet for storage and transfer of iFiat tokens, a Debit card for making payments in cryptocurrency and the ability to transfer various forms of crypto-assets directly into bank accounts while supporting 25 currencies in over 50 countries.

Its merchant application features include a payment gateway API, payment gateway plug-ins and application, POS terminal, iFiat based transactions, ability to transfer iFiats directly into bank accounts and ability to accepted cryptocurrency payments from debit cards.

• iFiat Ecosystem Running of Agate Blockchain

iFiat tokens use Agate's decentralized blockchain with the purpose of resolving several fundamental issues relate to public acceptance of crypto-currency as a mode of payment. iFiat tokens paved the path for user acceptance and adoption of crypto-currency by eliminating the volatility of digital assets as iFiat is having a very stable rate of exchange or conversion.

Payments are processed instantly in real time with the user having the option to pay in 17 different cryptocurrencies, which all can be converted into iFiat tokens and stored in an iBucket wallet, enabling the user to realize the entire value of the transaction.

• Gateway to Fiat Economy

Agate’s iFiat ecosystem supports a variety of fiat currencies like US dollar, Euro, Great Britain Pound, Japanese Yen and Australian Dollar. All the iFiat tokens can be converted into a fiat currency of their choice, and it can be loaded or transferred to debit cards or bank transfers giving the user complete freedom to transact and exchange their cryptocurrency with Fiat currencies.

Conclusion

Agate is also working towards integrating crypto-payment gateway with several retail merchants and e-commerce websites all around the world which accept cryptocurrency payments.

Media contact:

Name: Hamed Taghvaei

Email: media@agatechain.org

TG Group: https://t.me/AgateChain_Group

Website: https://agatechain.org/


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