How AGATE Enables Instantaneous Transaction Speeds at Low-cost Fees

AGATE, a new decentralized blockchain, offers comprehensive crypto-infrastructure for everyday banking and merchant transactions. Featuring a near-instant transaction speed, one of the highest in the market, the transaction fees on AGATE platform are significantly low, given the ecosystem is fuelled on AGATE’s own blockchain platform.

The infrastructure of AGATE’s blockchain is developed in over 12 different modules that offer a comprehensive solution for crypto-users, merchants and developers on the platform. It eliminates the limitations of other blockchain platforms while offering a gateway for users to connect with millions of physical stores, online merchants, and developers on the CryptoEconomy. The ecosystem fuelled by its AGT tokens can be utilized for several use-cases which holds a potential to be accepted by the masses while becoming one of the largest blockchain based operating systems network globally.

AGATE, the Future of Instantaneous Payments System:
Bitcoin introduced the payments arena and since then, a number of cryptocurrencies offer payments solutions. However, with their slow transaction speeds, the settlements are delayed that results in blocked assets clubbed with high transaction fees. Moreover, the volatile crypto-conditions, put an additional risk for the merchants accepting the cryptocurrencies as the same might decline in value leading to a loss for the recipient. In addition, a lot of platforms that offer crypto-based payment solutions, while charging high fees are simply not reliable or secure. AGATE recognized this problem and brought an innovative payments platform that addresses the concerns of the merchants while allowing lightning-fast speeds in transaction settlement periods.

When asked about the transactional throughputs, Hamed Taghvaei, Co-Founder and CEO, AGATE said “The very nature of cryptocurrency is its volatility. While such attribute impedes the acceptance of cryptocurrency, we’re building a platform where merchants can accept crypto-tokens without the volatility risk. Our near-instant transaction speeds with a throughput of over 17 million transactions per day is one of the highest standards in the crypto-market and merchants can instantly transfer the receipts into Fiat money eliminating the volatility risk.”

AGATE’s blockchain’s block size and block time are influenced by Ripple, Steem, and Waves-NG blockchains. Using similar principles of such developed technologies, AGATE blockchain features the fastest transaction settlement speed.

Using AGATE’s multi-cryptocurrency wallet app, which stores up to 17 different crypto-tokens, merchants on the platform have an option to accept varied cryptocurrencies as a mode of payment. With near-instant settlement speed, merchants are able to exchange their crypto holdings into Fiat currency instantaneously through the AGATE iFiat ecosystem, eliminating the volatility risk.

Using AGATE’s platform, merchants have the following modes to accept payments:

Merchant-Facing Functionality:
AGATE Payment Gateway API:
AGATE’s open source API, that allows merchants on the platform to develop their own payment gateway on the iFiat ecosystem.

AGATE Payment Gateway App/Plug-Ins:
An easy to install app/plug-in, the system allows e-Commerce stores to integrate such payment platform on their websites enabling such stores to accept a variety of cryptocurrencies.

AGATE POS Terminal:
Allowing crypto-access to the brick-and-mortar stores across the globe, the customers can make the payments using their cryptocurrencies while the stores can accept such payments without the risk of volatility as the POS terminals automatically process the payments and the store-owner receives the exact dollar value of the goods and services being offered.

iFiat Based Transaction:
With the most economical transaction costs, merchants can receive payments using the iFiat platform with a settlement time of as little as three seconds.

Business Debit Cards:
Merchants have the ability to transfer their iFiat balances to a business debit card for spending instantly.

Bank Transfers:
Merchants can also transfer their iFiats to their own bank account in over 25 currencies and in over 50 different countries.

Offering a single platform that provides a set of complete solutions on a single decentralized blockchain, AGATE offers merchant solutions with lightning-fast transaction speeds and lower transaction fees. Merchants using the tailored blockchain are able to greatly reduce their transaction costs with a fixed transaction fee of as low as 0.01 AGT. Such low costs encourage merchants to implement the payments ecosystem while eliminating the factor of higher costs.

With such disruptions within the blockchain ecosystem, AGATE aims to become a gateway that connects millions of users, physical stores, merchants, and developers. The sophisticated architecture along with state-of-the-art technology offers a strong potential for the platform to evolve as a comprehensive protocol being adopted globally.

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
Cell: +61402333412
Website: https://agatechain.org/