Today, you have various applications and individual blockchains to facilitate cryptocurrency payments, but the problems persist. One of the most significant issues with the current micropayment systems is the speed of the transactions. Bitcoin has a throughput speed of 3 to 5 transactions per second. That is the abysmally slow rate. Secondly, you have some cryptocurrencies that trade quickly but are incredibly volatile. Hence, they are not popular with users and merchants. Even the eCommerce retailers who are adept at using the blockchain technology are wary of accepting these cryptocurrency.
Therefore, there is a need for a long-lasting solution. Agate presents such a solution to the cryptocurrency economy. It is a complete set of decentralized blockchain with two mobile apps and a physical POS terminal. It operates with a multi-coin mechanism and works as a comprehensive crypto infrastructure for everyday banking. It is the perfect gateway to connect to millions of developers, users, and online merchants.
Let us look at some of the common problems faced by the user and the merchant before moving on to their solutions. It will explain why and how AGATE Payment Gateway integrates with the world famous eCommerce stores.
Problems faced by users
· Volatility in the value of the cryptocurrencies, especially in the poor exchange markets
· The slow speed of transactions, sometimes takings days for settling a deal
· Need different wallets to manage different coins and tokens
Problems faced by merchants
· The volatility of the cryptocurrencies makes it challenging to decide which cryptocurrency to accept
· Their suppliers might not use cryptocurrency. Hence conversion into Fiat currency is an issue
· Slow transaction settlements, sometimes taking days for one to go through
AGATE provides immediate solutions to all these problems faced by users and merchants alike.
· Enables optimal transfer of Bitcoin and Ethereum and other cryptocurrencies to iFiat through an automated AI bot thereby ensuring stability in the value of the cryptocurrencies
· Introduces a new blockchain with instant settlement speeds
· Manage and keep up to 17 different coins and tokens from various blockchains in the Agate multi-currency wallet application (At present you can keep 6)
· Agate accepts five of the most important cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple. They plan to extend it to 17 cryptocurrencies shortly. Hence, merchants and eCommerce retailers would find it easy to transact on the Agate platform. They receive the exact dollar value every time they transact on the platform.
· This platform allows the conversion of cryptocurrencies to iFiat currencies. Hence, the merchants can transfer the balances to cash to use in their business.
· The funds are available immediately for the merchants and eCommerce retailers to spend.
Both the users and the merchants have dedicated mobile apps to facilitate smooth transactions. Hence, it removes the volatility factor from the equation and enables eCommerce retailers to trade freely in the cryptocurrencies without fear of losing heavily in the bargain. Most of the famous eCommerce retailers have already integrated into the AGATE payment gateway.
To find out more, visit https://www.agatechain.org/
Read the white paper here.
Name: Hamed Taghvaei
Email: [email protected]
TG Group: https://t.me/AgateChain_Group