Agate is a complete decentralized blockchain with 2 mobile applications, a system, API package software, plug-ins, extensions, and physical sales terminals. The terminal is a comprehensive encrypted infrastructure used for daily financial activities, and it is also a gateway to connect millions of R&D personnel, user physical store merchants and online merchants to the encrypted economy. AgateChain includes several modules and objects that are all driven by AGT. AGT tokens have more than 10 continuous application streams and revenue streams. An important feature of Agate is that most of its modules have been built and are in operation, or there is a B version, which will be completed soon.
Agate blockchainProverb: Adapt to local conditions
Different blockchains are used for different purposes. We know that we need specific blockchains to meet our requirements.
Before other multifunctional, slow and expensive blockchains. Below, we summarize some of the performance of the Agate blockchain:
ï‚· Fast
ï‚· Low transaction fees
ï‚· Scalable
ï‚· Smart contract
ï‚· Decentralization
ï‚· Minable
ï‚· Security
ï‚· Token Generator Engine
ï‚· Block explorer
ï‚· Fast
The block size and block time of the Agate blockchain are affected by Ripple, Steem and Politecoin's scalable blockchains. Similar rules are used to achieve the fastest transaction settlement speed and do not require multi-party confirmation because it runs inside the iFiat system. . (However, developers can design their applications, and multiple confirmations are required.)
We have 4 versions of the last block:
·Low transaction fees
Using a tailor-made blockchain can greatly reduce transaction costs and is almost free (the fixed transaction fee is 0.01AGT; such a fee is formulated to protect the Agate blockchain from spam attacks). The ultimate goal is to encourage users and merchants to use the entire system, without worrying about transaction costs, and not relying on the high-cost traditional blockchain, which is not suitable for micropayments.
·Scalability
The Agate blockchain includes three micro-blocks, and thousands of users can use one main block to conduct transactions at the same time without delay.
·Smart Contract
Our R&D team is working hard to study and announce the specific types of Agate blockchain smart contracts that meet future requirements. Our focus is to simplify the contract, and developers do not need to learn a new programming language. We expect to announce the smart contract to the public before the first quarter of 2019.
·Decentralization
The Agate blockchain will continue to be decentralized. After merging into the mainnet, we welcome all those who like to manage and run nodes to participate.
·Mining
We mine Agate in an environmentally friendly way, which is different from the POW mining method that mines Bitcoin and Ethereum. The POW mining method consumes a lot of electricity and requires advanced hardware and knowledge to become a miner. Using the Agate blockchain to mine the network, anyone can become a miner. The only requirement is to buy 50,000 AGT currency, and participate in PoS mining and get a return. Mining workers can also operate their own public mining pools, and users with a small amount of AGT currency can rent the currency to the mining pool and get paid proportionally. This shows that users with a minimum value of 1AGT can become mining workers. During the lease, they can lease the currency obtained from the mining pool at any time and can consume it immediately.
Token Generator EngineA basic module in Agate is the token generator engine; in order to issue iFiat tokens (for example, U.S. dollars, euros, etc.) we use the Agate token generator engine. We create these tokens to promote the iBucket within the AgateiFiat system Transactions. However, everyone, including individuals, companies, or R&D personnel can create their own personalized internal digital currency or tokens, which can be used to run ICOs, buy gift cards, operate loyalty programs, or issue tokens linked to fiat, etc. .
Anyone can use Agate token generator GUl or Agate API package components to generate redistributable or non-reissuable tokens. The one-time cost is 50AGT currency. After the token is issued, the transaction fee is fixed at 0.01 AGT.
Block explorerSimilar to other blockchains, the Agate blockchain has a detailed block explorer, which is currently used to track all transactions within the iFiat system and can be used by everyone.
1. Multi-blockchain structure
We make full use of the various parts of the Agate blockchain and integrate them to maximize the efficiency of this flexible and economical program. Agate Currency (AGT) operates the Agate blockchain. AGT drives most of the internal operations of the Agate blockchain, relies on the Agate blockchain to run, and promotes internal transactions in the Agate iFiat system internally.
Since the Agate blockchain is currently running on the test network, we are using ERC20 tokens (running on the Ethereum blockchain and trading on Micro Raiden). After we migrate to the main network, the token holders will vote to determine the following options :
a) Currency swap project based on smart contract. Token holders can exchange AGT with Agate ERC20 at a ratio of 1:1.
b) We will pay the same amount of AGT to the wallets of all Agate ERC20 token holders.
On the other hand, we just mentioned that users can now save five different currencies on different blockchains. Moreover, the amount of currency will increase very quickly. Below we show you an overview one -. How do these five currencies work together?
2. User multi-currency wallet application
In 2009-Month, the world's first cryptocurrency, one bitcoin, appeared. Bitcoin blockchain settlement is fast and economical, but using this currency is still impractical. As a result, a more attractive virtual currency has been created, which will appear in the future. Each cryptocurrency needs to be stored on its own blockchain, and it will become increasingly difficult for users to manage virtual currencies. One of the problems is how to consume these currencies in the real world.
Recently, some companies have tried to make basic applications, buy back users’ cryptocurrency, and deposit ifiat currency into Visa or Mastercard, but they all have many problems:
1. It takes quite a long time from the user's request to convert the encrypted currency into the actual fund in the account.
2. Tokens are not used to drive the system. In most cases, tokens are security tokens. Potential profits are obtained from the company's revenue or the card issuer's funds, so a lot of costs are involved.
3. Most companies only allow users to deposit one or two cryptocurrencies (mainly Bitcoin and Ether)
4. If the user stores currency in an application, the currency is locked in that application. Most of the time, users must convert currency to fiat currency in the form of a Visa or MasterCard account, or transfer the currency to another wallet.
In addition to the above problems, many application functions have been promised but are currently inoperable. Many applications operate in a way that is not consistent with their original promise in the white paper. In Agate we strive to solve all these problems. For example, in Agate's user application, users can save five cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple. As many as 17 cryptocurrencies are currently in the development stage and are expected to be announced in the fourth quarter of 2018. When the global exchange rate is optimal, users can instantly convert cryptocurrencies into any iFiat in the Agate iFiat system (for example, U.S. dollars, etc.), which is an internal token/fixed coin linked to fiat currency. This is the most important element of Agate, because users and merchants can send and receive money immediately, and it's free, or users can deposit cash in their bank account, or install a personal card, and use it in 30 million stores around the world. The user receives the funds immediately. Therefore, in the current agreement with our card supplier, we agree to deposit a certain amount of money in the trust account, and Agate can load the user's card immediately and update the balance immediately after all financial transactions.
3. Agate trading robot
Users use Agate trading robots to load multiple currencies into Agate to obtain the maximum value of cryptocurrencies. In order to improve the efficiency of currency, the rules of trading robot trading can be set when the conditions are met. The beauty of this solution is that there is no need to transfer cryptocurrencies to different exchanges; just put any currency into the wallet available in the Agate user application. If the market fluctuates, you can also set the currency to be transferred to iBucket to maintain the value of the encrypted currency (see "Why is iBucket important?" for more details). Obviously, similar to other trading robot users, they can get the latest prices.
4. Agate AI Engine
Although the cryptocurrency market has been volatile, the Agate AI engine uses machine learning and decision-making algorithms, such as recurrent neural networks (RNN) called long-term and short-term memory networks, LSTM and logistic regression to train itself and inform users when the best time to encrypt Transfer currency to iFiat to get the most benefit. The AgateAl engine uses a variety of machine learning methods and complex trading algorithms and market forecasts to obtain the best results. For the time being, without mentioning the law and compliance, users need to approve the decision and end the transaction.
Our A| team was influenced by the methodology of Andrej Karpathy, Tal Perry and Christopher Olah to create a database with 4000 columns and 300 rows. If we vectorize the database fundamentally, new vectors of only 300 will appear. We arbitrarily set numbers in the matrix. Part of the "deep learning" is to update the numbers, and the Excel spreadsheet changes. In the end, the numbers in this rectangular spreadsheet change the original 4000-dimensional vector into a simple 300-dimensional vector, so we get a function, which is used for each number in the vector, and finally all the results are between 0 and 1. Between (or 0 to infinity; depending on the situation) RNN is an in-depth learning algorithm that uses the sequence method. Each step represents the next character, using matrix operations, as we saw earlier. Since RNN has some kind of internal memory, it can remember what happened before. Use this memory to determine how to run the next input. Using this memory, RNN can remember that this is the inside of the predetermined range and how we correctly get the nested output text.
In our test environment, we simulated the transaction data of three different currencies (Bitcoin, Ethereum and Ripple) for eight months. The results showed that in 200 cases of fund withdrawal, compared with the same amount of random withdrawal of funds, using the Agate AI engine Of users can save 5.25 to 7.4%.
We also compared AgateAl engine predictions with real-time data to compare the prediction differences between 100 Bitcoin and Ethereum transactions, and the result showed a variance of 0.172787.
5.Agate debit card
Although payment in legal currency is still the most common and convenient way for users to consume cryptocurrency, we still reach an agreement with the world's largest card supplier, and more than 30,000 stores around the world accept Agate debit card payments. The most important part of the value of the Agate debit card is that if the user requests to load the debit card settlement balance, it only takes a few seconds. Because the floating credit of the cardholder's credit account will be automatically charged to maintain the balance of the credit account, we have reached an opinion on the balance. Coupled with the cardholder's API, the Agate application will immediately make the user's card receive funds.
Due to the strong agreement between Agate and the debit card provider, users with basic KYC (understanding the user, including the user's full name, address and email) can use the card with a lower limit. In addition, users will have a spending limit after verifying their identity through enhanced KYC.
6. Merchant applications
We have conducted a lot of extensive research on the problems faced by the crypto economy, and the results show that the main elements of slow flow in the crypto economy are not necessarily payment methods and tools; on the contrary, the problem lies with the merchants. Although there are several ways to convert cryptocurrency into legal currency, and then use it in physical stores or online stores, there are still not many practical, flexible and economical solutions for merchants. We have also learned that although there are currently fewer solutions for merchants to accept cryptocurrencies, the biggest concerns of merchants are market fluctuations and high fees. Merchants mainly need to pay a variety of expenses, including using legal currency to pay suppliers and employees' expenses, rent and other expenses, but they don't want to accept the risk; although they will get customers who consume cryptocurrency for more reasons, one thing they worry about It is the numerous physical store POS terminals that are not feasible for merchants: first, it is difficult to manage, second, the rent is high, especially when there are not enough users to pay for consumption, there is no major company to support the establishment of physical POS terminals. On the contrary, the rent and cost of traditional POS terminals are very expensive, so we believe that Agate merchant applications and AgatePOS terminals are the ultimate solution to all these problems. Because the merchant application runs in our AgateiFiat system, which is run by the Agate blockchain, which is by far the most economical and fastest blockchain; for tokens linked to legal tender, we become iFiat (for example , U.S. Dollars, Euros, etc.) are all floating in this system, so when users in the Agate user app exchange cryptocurrency and transfer it to iBucket (or use Agate trading robot, Agate Al engine or manually), they can Immediately use the funds in the Agate merchant application, and the user receives the funds within three seconds, and can perform up to 6000 transactions in one minute.
If the merchant receives funds in their iBucket, they can either reserve a card, deposit the funds in the card or deposit the money to a local bank account or spend it in Agate merchant apps, POS terminals or online stores.
Another advantage of this method is that merchants do not need to bear the risk of volatility in the crypto market because they have fiat currencies of the same value in their wallets. Moreover, they do not need to use a complicated system to track the market and convert the user's dollar value into cryptocurrency, which also shows that the user's goods or services do not require multiple labeling and pricing systems.
7. Payment gateway applications and plugins
There are millions of online merchants on the Internet, but similar to the reasons stated by the merchants, only a small number of merchants are willing to accept cryptocurrency. Usually they accept Bitcoin and sometimes Ether; at the same time, many merchants do not accept any cryptocurrency.
Agate iFiat systemThe most interesting element of Agate is the Agate iFiat system. The system uses decentralized blockchain technology (Agate blockchain) to solve many fundamental problems in the encryption economy, promote real-time transactions, and low cost.
Blockchain also has its own components; this chapter will talk about it in detail. The working principle of cryptocurrency linked to fiat currency is the same as that of fixed currency, called "iFiat". All iFiats were initially released on the Agate blockchain, so they are a cryptocurrency token. According to the corresponding legal currency unit, each iFiat unit issued and circulating is a 1:1 ratio (1iFiatiUSD is equal to 1 U.S. dollar).
Compared with other cryptocurrencies linked to fiat currencies, Agate iFiat has the following advantages:
iFiat is located on the Agate blockchain and not underdeveloped, there is no tested blockchain, nor is it closed source software running on a decentralized, private database_, nor on a slow and expensive blockchain like Bitcoin , Because Bitcoin is not suitable as a medium for transferring funds or for micropayments.
·However, iFiats can be used like other cryptocurrencies, for example, for p2p, pseudo-anonymity, decentralization, and a cryptographically secure environment, but iFiats is only circulated within the Agate blockchain to promote payment and real-time settlement, ensuring users and The value of the merchant's funds is safe, and iFiat redemption will not receive any price or liquidity restrictions.
IFiats runs on the fastest decentralized blockchain platform, which includes DEX, browser base, wallet encryption, open source, multi-party security and reporting functions. All transactions can be tracked using the blockchain browser.
· Traditional merchants
·Although iFiats can fully remedy it by using the following options, the biggest use is to spend with other merchants or suppliers, because this is real-time and user transaction fees are low.
·Instantly save to virtual or real debit card
·Request to transfer to bank account
·Pay all kinds of bills, including loan repayments, utilities, etc.
·G generates encrypted gift certificates, which can be recovered from all Agate merchants (physical stores and online stores)
The Agate iFiat system can support many different jFiats; but currently the system relies on the U.S. dollar, which is pegged to the U.S. dollar, and each token represents 1 U.S. dollar. We plan to add Euros, British Pounds, Japanese Yen and Australian Dollars in later versions.
Example: Suppose there are 1BTC and 1ETH in John's multi-currency wallet. If 1BTC is worth $10,000, and 1ETH is worth $1,000. He wants to transfer $1,500 to a debit card; he has 3 options.
I. According to his choice, he can use a combination of ETH and BTC to transfer, or just use BTC to transfer to iBucket and then deposit to the card.
II. According to market trends, he knows that if you wait a while (for example, wait another hour), only exchange BTC,
His income will be better, so he will activate the Agate AI engine for 24 hours (or at a specified time), close the application, and the Agate Al engine will always look for the best according to different machine learning algorithms (described in the machine learning algorithm chapter) Time exchange-one or two cryptocurrencies, notify him and ask him to approve the transaction.
III. When the price of BTC and ETH reaches a certain value and the agreement can be executed, he can set up the Agate trading robot
1. Decentralized iBucket
The most important part of the Agate iFiat system is iBucket, which is a decentralized wallet that manages iFiat tokens (for example, US dollars).
2Why is iBucket important?
2.1 Get the Peak! Peaked
Users can freely exchange cryptocurrency with legal currency, not only when they actually purchase or want to transfer to a debit card or bank account, but also when the market value is the highest. You can use the Agate AI engine, Agate trading robot or manual exchange at the user's request.
2.2 Unrestricted consumption location
For all people who hold any cryptocurrency, the most important thing is to be free to spend in any place, physical store or online store. Users can use the Agate iFiat system to consume cryptocurrency; iBucket can be regarded as a decentralized wallet for iFiat tokens, because merchants use iBucket to accept iFiat tokens, and Agate will not charge it, and merchants are more willing to use Agate iFiat to get funds immediately , And more importantly, it is free and will not be affected by fluctuations in the cryptocurrency market. This is unprecedented for merchants.
2.3 Return
In real life, customers want to return products for many reasons. For example, local government regulations need to protect consumer rights, or there are fake and inferior products. In the current statutory economy, returns are very expensive for merchants. In an encrypted economy, both merchants and customers need to pay. On the contrary, in the Agate iFiat system, the internal fund transfer cost is very low (all 0.01AGT), so the customer can get all the expenses back into the iBucket.
2.4 Dispute dispute
All iBucket transfers are performed on the blockchain, so the sending and receiving parties will not have any disputes when resolving the transaction, because both of them can track the transaction in the public blockchain browser.
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