The Agrichainx ecosystem, Agrictrade, Agricfood, Agricfinance etc marketplace has a native currency, the Agricoin (AGN). All transactions made between farmers, traders, processing companies, farm sponsors and consumers will require AGN. Additionally, Agricultural -related products and other transactions on the ecosystem require AGN. In effect, the only currency accepted within the Agrichainx ecosystem is AGN.
Apart from being used as the primary currency in the Agrichain ecosystem, AGN is required for operating a Agricnode to secure the Agrichainx network. Agricnode operators get rewards for their work with a return on investment (ROI) commensurate with their collateral.
The Agriccoin
Algorithm Ethash
Type POW/POS + Agricnode
Max Coin Supply 200,000,000
Ticker AGN
Locked 75,000,000
Node Generation 6 seconds max
Agricnode is a decentralized wallet or account containing a locked amount of Agricoin to verify transactions and enables private transactions with coin shuffling, decentralized governance, and the proprietary proof of service protocol, which allows for lightning fast transactions such as instant Agricoin transfer using a method called simplified payment verification (SPV) on Agricledger infrastructures.
Agrichainx is Africa’s global blockchain Agriculture platform connecting farmers to markets, finance, tools and resources. Agricnode is an operational model of Agrichainx ecosystem and the first global Agriculture DAO build on Agricledger to connect millions of Agricoin nodes in order to speed up transaction across agricultural value chain to enable financial freedom for the over 570 million farmers across the world.
Agrichainx has deployed its native currency, agricoin to facilitate transactions on the Agrichainx ecosystem. Agricoin uses a Proof of Service mechanism which contains two tiers of networks. The consists of the network of miners to achieve distributed consensus on the ethereum blockchain.
The second tier is made up of Agricnodes which run on Agricledger to provide special functionality such as transaction verification and validation, InstaSend or voting on budget funding to help secure the platform for all the stakeholders and create a lifetime passive income for them.
Agricnode operators and stakeholders earn passive income of $5 daily for participating in the network. With the rise of distributed ledger, Agrichainx is powering Agriculture with blockchain (AgricLedger), AI, IoT and big data to make Agricultural operations seamless and efficient.
WHY BLOCKCHAIN AGRICULTURE WITH 10M AGRICNODES
Over the last century, the global population has quadrupled. In 1915, there were 1.8 billion people in the world. Today, according to the most recent estimate by the UN, there are 7.8 billion people with projection to reach 9.7 billion by 2050. These growths, along with rising incomes in developing countries are driving up global food demand. Food demand is expected to increase anywhere between 59% to 98% by 2050.
This will shape agricultural markets in ways we have not seen before. Farmers worldwide will need to increase crop production. And so there will be need for more liquid finance for agricultural operations, decentralizes farming and agricultural commodity trading, all these will generate high volume of data and financial transactions that will need faster speed of processing and verification. Blockchain is touted as a technology that will revolutionize the finance and other sectors for data security and transaction verifications, but slow transaction speeds and a lack of standardization threaten to restrict growth.
Agrichainx has created ingenious and rich ecosystem powered by emerging technologies to make all these operations seamless and efficient and agricnode is to enable high speeds and scaling at the same time trustless. And will in turn incentivizes the network of participants, the stakeholders, node operators and create a lifetime passive income for them.
Benefits to the global economy
1. Enable a treasury system in the cryptocurrency powered by Agriculture
2. An additional boost of Agricoin in reserve to cryptocurrency market making the currency more valuable as it incentivizes the node operators.
3. Cashless economy on the go.
4. Lifetime financial freedom and confidence.
5. It reduces over dependence on government jobs
6. Ending poverty with Agriculture powered by blockchain
7. Access to daily and monthly passive income for life
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