Blockchain

iFiat Based Transactions – A Quick way to transfer iFiat to a wide range of merchants

The crypto economy is facing issues about slow connection speeds and volatility of specific cryptocurrencies. There is a need to streamline these problems. Agate provides the solution in the form of a decentralized blockchain and comprehensive crypto infrastructure to enable day-to-day trading of cryptocurrencies. It is a gateway that connects hundreds of developers, users, and merchants to the crypto economy. Agate offers the highest transaction speed coupled with low-cost transaction fees. The AGT token facilitates these transactions smoothly.

The Agate iFiat Ecosystem is the most exciting element of Agate as it allows merchants to transfer crypto tokens into cash quickly. Agate aims to resolve the fundamental issues in the crypto economy by expediting the transactions economically and in real time.

The Agate iFiat has various advantages over the other fiat-pegged cryptocurrencies. The iFiats exist more on the Agate blockchain platform rather than the less developed blockchains.

a)    You can use iFiats line any other cryptocurrency. However, it has utility inside the Agate blockchain to facilitate payments and real-time settlement to secure funds for both the merchant and the users. The iFiat redemption does not have any constraints in facing pricing or liquidity issues.

b)    You can redeem iFiats completely, but the best use of iFiat is to spend it with other merchants and suppliers because it is real-time and has a comparatively small transaction fee for users.

c)    iFiats can run on the fastest decentralized blockchain platforms like the DEX. It is also possible to track all the transactions on the blockchain explorer.

d)    Loading virtual or physical debit cards with iFiat is possible.

e)    iFiat enables the users to request a transfer to the bank account

f)     You can also use iFiat to pay your utility bills and loan repayments

g)    Generating crypto gift voucher redeemable with all Agate merchants is possible.

At present, the iFiat runs on iUSD, though Agate plans to add other currency like EUR, GBP, JPY, and AUD very soon.

How is the Agate Blockchain platform different from the others?

·         High Speed – Bitcoin has a transaction throughput speed of 3 to 6 transactions per second whereas the Agate Blockchain can handle a minimum of 200 transactions per second. Hence, merchants can receive crypto payments in real time thereby allowing them to either redeem or spend instantly.

·         Low Transaction Costs – The traditional payments systems are expensive. The Agate tailored blockchain is almost free for the users on the platform. They charge a minimal fee of 0.01 AGT per transaction to protect the blockchain from spam attacks.

·         Scalability – Agate has three microblocks and one key block. It allows thousands of users to transact on the platform without any delay.

·         Multiple Merchant Facing Functionalities. The iFiat based transactions make it easy to convince the merchants to adopt crypto payment solutions because of its sped and stability.

·         Stable cryptocurrency – The iFiat tokens have a stable conversion ratio of 1:1 with the underlying asset.

Thus, iFiat-based transactions provide the best facilities to transfer iFiat currencies on a real-time basis. The stability of the cryptocurrency is also a reason for the growth in its popularity.

To find out more, visit https://www.agatechain.org/

Read the white paper here.

Media contact:

Name: Hamed Taghvaei

Email: [email protected]

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

Website: https://agatechain.org/