TOP > Press Release > [PR] Ecommerce on Steroids – Inside Agate’s sophisticated AI engine
September 10, 2018 Updated

Currently, Agate’s multicurrency crypto-wallet supports 5 cryptocurrencies initially which are the Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple,

Most investments in cryptocurrency presently are essentially for trading and liquidity and not as a mode of payment. Nevertheless, no digital currency or token can substitute traditional fiat currencies without being able to perform their basic functions of payment and transactions. Presently, due to the limitation of various cryptocurrency platforms, micropayments have not garnered widespread acceptance owing to inefficient settlement time, complicated operation environments and inability to deal in the multiple or different forms of cryptocurrencies in a single platform.

Agatechain’s comprehensive crypto-economy infrastructure

Agate’s latest blockchain platform offers various decentralised features which offer a comprehensive infrastructure for day to day banking transactions and merchant solutions in cryptocurrency. Eliminating the volatile nature of cryptocurrencies using its iFiat platform, cryptocurrency can now emerge as a preferred mode of payment on online and offline retail platforms, which is almost not possible using current cryptocurrency platforms.

Agate’s blockchain platform can handle thousands of transactions per second with the settlement time under three seconds a negligible transaction cost of 0.01 AGT.

Agate Blockchain’s Micropayment Infrastructure.

Utilising a dozen set of different modules, with some in the stage of beta testing while the others are fully developed, Agate offers a multi-user facing or merchant-facing features. These features provide a gateway platform of millions of daily transactions which can be executed at once and immediately on Agate’s blockchain platform. Using Agate’s open source payment gateway API and easy to install apps/plugins, e-commerce stores and developers have a simple alternative to create their unique payment gateway on Agate’s iFiat platform or utilise the Agate’s payment gateway. Further, Agate’s physical POS terminals cost a 0% transaction fee, unlike traditional terminals currently being used by traditional payment terminals.

Agate offers traditional offline retail stores to adopt the latest cryptocurrency payment infrastructure at a fixed monthly fee or a lifetime fee. Agate’s platform offers an almost instant real-time settlement, a secure cloud-based platform with NFC/RFID support and volatility-proof gateway to encourage acceptance of cryptocurrency payments.

Agate’s multi-currency wallet

Agate’s multi-currency wallet allows users to store, deposit and pay in over 17 cryptocurrencies and is powered by Agate’s advanced artificial intelligence engine. It acts as a single-station solution of users of cryptocurrencies, as they no longer are required to maintain and manage different cryptocurrency wallets for different cryptocurrencies.

Currently, Agate’s multicurrency crypto-wallet supports 5 cryptocurrencies which are the Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple with developmental work is currently underway on an update which can support 17 different cryptocurrencies. This update is expected to be released by Q4 2018.

Agate’s iFiat Ecosystem

Exchange volatility is one of the most significant concerns of consumers which is discouraging them from adopting cryptocurrency for payments and transactions. Agate’s iFiat platform eliminates volatility, which is the core foundation of the Agate blockchain platform.

Further, with an almost negligible transaction cost of 0.01 AGT per transaction, and high-speed real-time settlements, Agate eliminates all limitations of existing cryptocurrency platforms. iFiat, introduced by Agate, is pegged at a 1:1 conversion ratio with its underlying asset at any point of time, providing high stability. Each unit in circulation exists on the Agate Blockchain and is fully redeemable as fiat currency at any point of time.

Agate’s multi-cryptocurrency wallet enables all transactions and payments initiated by a user. Its integrated decentralised exchange allows conversion into iFiat units which are deposited in the iBucket wallets of users and merchants, thereby allowing users to utilise their cryptocurrency and enabling merchants to realise full monetary value for their goods and services offered against cryptocurrency. These iFiat units are pegged against the US dollar, and Agate has further planned to integrate support for other currencies such as EUR, GBP, JPY and AUD, with this allowing seamless transaction on a global scale at economical transaction cost without the need of a central intermediary.

Conclusion

These online and in-store retail payment and transaction solutions allow users and merchants to safeguard themselves with the volatility of cryptocurrency and with its multi-pronged approach, the features of the Agate’s blockchain platform is set to bring about a significant revolution in the micropayment platform. It is further set to bringing about transparency and formalisation of cryptocurrency payments to pave the way for easier acceptance and adoption of cryptocurrencies.

Media contact:
Name: Hamed Taghvaei
Email: media@agatechain.org
TG Group: https://t.me/AgateChain_Group
Website: https://agatechain.org/


Notes:

  • This press release is sponsored and provided by AgateChain. The Bitpinas team did revisions to the article for clarity. The views expressed in this press release are those of the sender/provider of the material and does not necessarily reflect the official policies or views of Bitpinas.
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