How Agate Leverages iFiat Faster and Smarter Than Other Blockchains

The introduction of the Bitcoin source code has completely revolutionised the entire banking and financial system worldwide. As its popularity grew, various Altcoins and cryptocurrency emerged on their unique decentralised peer-to-peer digital tokens for financial transactions.

Bitcoin intended to eliminate intermediaries such as banks to decentralise micropayments, but it was not viewed as a transactional token but only a medium to amass gains in a short period and the same was the case with various cryptocurrencies which showed up in the marketplace following the footsteps of Bitcoin tokens. The tokens were anticipated to be a mere replica or alternative to the Bitcoin tokens.

The groundbreaking Blockchain technology intends to decentralise micropayments; it is yet to realise its full potential in the world of cryptocurrency and replace the existing banking systems. However, the Agate blockchain is set to revolutionise the cryptocurrency framework making micropayments using cryptocurrency a reality.

Although most of the current micropayment platforms lacked efficiency in settlement periods or were having liquidity issues, the Agatechain assimilated some of the best talents in the payment industry to create a platform for micropayments bringing the best features of all existing block chains on a single platform.

How is the Agate Blockchain different and better than other existing crypto-payment platforms

The Agate Blockchain platform offers superior crypto-currency solutions merging the best features and eliminating the limitations in the existing cryptocurrency platforms which include.

• High Speeds: The Bitcoin is a revolutionary technology which had inefficiencies related to slow speed throughput speeds of 3–6 transactions per second. While other cryptocurrencies which emerged had higher speeds compared to the Bitcoin, there suffered from slower blockchain settlement speeds or limitations with the number of tokens available on their network for global transaction and widespread acceptance.

The Agate Blockchain offers speed of over 1000 TX/s and is an efficient solution for micropayments with blockchain settlement time of fewer than 3 seconds. This implies merchants can receive real-time crypto-payments which can be spent or redeemed almost immediately.

• Low Transaction Cost: Agates’s customised blockchain platform reduces transaction cost. With a flat-rate transaction cost of 0.01 AGT, which is as good as free. The high highly secure nature of the Agate Blockchain platform provides merchants and users from spam attacks, with this encouraging merchants and users to adopt the Agate payment platform at highly economical cost and to eliminate the limitations of existing traditional blockchain solutions.
• Scalability: The Agate blockchain platform allows multiple users to transact at once without any delays or interruption using its three micro-blocks and one key block.
• Multiple Merchant Facing Functionalities: While it might be impractical to persuade traditional merchants and businesses to adapt existing cryptocurrency payment solutions, the Agate’s Blockchain solution enables merchants, retailers, businesses and online e-commerce platforms to adopt cryptocurrency transaction and payments as a preferred mode of payment with various features which include the Agate Payment Gateway Open-Source API, Agate payment gateway Apps/Plug-ins, iFiat based transactions, Agate POS terminals and many other user and merchant-facing solutions.
• Stable Cryptocurrency: Introduction of an iFiat ecosystem, which operates on the Agate Blockchain platform, iFiat tokens are pegged with fiat cryptocurrencies which have a stable conversion ratio of 1:1 with the underlying assets.

Having high levels of stability, every iFiat currency generate and circulated on the Agate’s blockchain platform makes almost real-time settlement speeds a reality while at the same time allowing traditional merchants to adopt over 17 different types of cryptocurrencies for payments which will be supported by Agate’s multi-cryptocurrency wallet.

Further, it offers complete liquidity to users and merchants allowing them to withdraw or spend their iFiat tokens in their cryptocurrency wallet almost immediately without any restrictions. Further cryptocurrency transactions can be supported using physical and virtual debit cards, crypto gift vouchers or make bank transfers in 25 different fiat currencies in over 50 countries.

While many traditional cryptocurrency platforms offered high-tech solutions, it was plagued with higher settlement periods, delayed payment and network congestions; Agates platform does away with all the limitations of traditional crypto-platforms enabling wide-spread acceptance of cryptocurrencies a reality.

The Agate technology is a fully decentralised model utilising a highly adaptable technology paving a path for millions of cryptocurrency based banking transactions on a daily and real-time basis.

Media contact:

Name: Hamed Taghvaei

Email: media@agatechain.org

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

Website: https://agatechain.org/

Published by: https://cryptoafrica.com/