iFiat Ecosystem
One of the most interesting elements of Agate is the Agate iFiat Ecosystem. It 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 the following advantages over other fiat-pegged cryptocurrencies.

iFiats exist on Agate blockchain rather than on less developed and tested blockchains, also, not within closed-source software running on centralised, private databases, or on very costly and slow blockchains like bitcoin, which is not viable or practical to use it as a medium to transfer funds or for micropayments.

Agate iFiat Ecosystem is capable of supporting many different iFiats; however, it currently runs on iUSD, which is pegged by USD, and each token always represents $1 USD. In later versions, we plan to add EUR, GPB, JPY and AUD.