Agate Gateway API, which is an open-source API and available in GitHub, will let anyone create his or her own payment gateway within the Agate iFiat Ecosystem and run on Agate blockchain.
What does iFiat Ecosystem mean? What will that be used for?
iFiat Ecosystem uses decentralised blockchain technology (Agate blockchain) to resolve many of the fundamental issues in the cryptoeconomy, which will facilitate transactions very economically and in real-time.
The blockchain also has its own objects; more details have been described in its section. 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.
Agate iFiat has a lot of advantages over other fiat-pegged cryptocurrencies.
This is a bit too technical for me lol
Can someone explain what will actual advantages of iFiat be? Like more stable currency or?
Well it can't be non-technical
Here is a list of advantages, if you don't understand something ask and someone will surely explain it to you.
Although, iFiats can be used just like other cryptocurrencies, i.e., in a p2p, pseudo anonymous, decentralised, cryptographically secure environment, but they are only circulated inside Agate blockchain to facilitate the payments and real-time settlement and secure the value of funds for both users and merchant as iFiat redemption will not face any pricing or liquidity constraints.
iFiats run on one of the fastest decentralised blockchain platforms, which include a decentralised exchange (DEX), Browser base, wallet encryption, open source, multiparty security and reporting functions and all transaction can be tracked on our blockchain explorer.
iFiat’s one-to-one backing implementation is easier for traditional merchants to understand and accept for their goods or services.
Although iFiats are fully redeemable via the options below, the best use case scenario is to spend it with other merchants or suppliers, because it’s real-time and has a very small transaction fee for users.
Instant loading onto virtual or physical debit cards
Request to transfer to bank account
Pay any type of bill, include loan repayment, utilities etc.
Generate crypto gift voucher, which is redeemable with all Agate merchants (in store or online)