What is that iFIAT Ecosystem, saw that in whitepaper, but I don't understand it too good, to be honest.How will that work and what is the purpose of it?
iFIAT is one of the most interesting elements of Agate. It uses decentralised blockchain technology (Agate blockchain) to resolve many of the fundamental issues in the cryptoeconomy in real time.
Fiat-pegged cryptocurrency works like a fiat credit or stable coin and is called “iFiat.” All iFiat will initially be issued on Agate blockchain, so they exist as a cryptocurrency token. Each iFiat unit issued into circulation is backed on a one-to-one ratio (i.e., one iFiat iUSD is one US dollar) by the corresponding fiat currency unit.
This has a lot of advantages over other fiat-pegged cryptocurrencies.
Stable coins are getting more and more popular,so im not surpirsed that Agate has that too,as its needed for mainstream adoption.
That is right,i doubt crypto can reach mainstream without being more stable,and thats where stablecoins come.
Agate has their own iFIAT Ecosystem not only for that, iFIAT offers much more advantages then a simple stablecoin does.
