Infireum (IFR) is an ambitious project delivering the much needed solution to bring cryptocurrency to everyone by removing the value instability issues and inconsistent transaction speed problem that stop people and businesses from using it.
Infireum uses blockchain technology, cryptography and the latest in mobile application technology to allow transactions to be almost immediate, secure, stable and cheap that large-scale enterprises and businesses can use, all without having to trust a 3rd party like a traditional bank or paying high fees or wait for days for an international transfer to go through.
IFR and its InfinitePay wallet makes it easy and ideal for anyone and any business to use cryptocurrency, enjoying the security and speed at low cost and shielded from volatility.
Through a secure process within InfinitePay wallet, IFR is exchanged for stablecoin, Inbiq by having the IFR coins sold on an exchange in real-time to fund InfinitePay wallet and backing the value of Inbiq, dollar for dollar.
Inbiq is then held in InfinitePay wallet, ready to be spent for purchases or wallet-to-wallet transfers while always maintaining its value backed by the dollar.
The total supply of IFR is fixed which means no one can print or make more of IFR while Inbiq is generated and backed through IFR as needed.
As a next generation blockchain, Infinite Chain is also capable of holding large amount of data securely and permanently to function perfectly as a ledger for bookkeeping purposes, much needed by large-scale enterprises requiring records of high number of transactions.
Low fee per transaction paid with IFR on Infinite Chain prevents deliberate spamming of the network with meaningless transactions and these fees ensures self-sustainability.
Although originally designed to be more secure and faster for everyday use, cryptocurrency is also currently speculated by traders, causing the value to be extremely unstable and unsuitable for commerce and business.
Most cryptocurrencies like bitcoin, ethereum, litecoin and many more are based on blockchain technology, and together with cryptography and consensus mechanism, they allow owners to take full control and true ownership of their money without relying on third party trust like a bank or a government or a financial institution.
When the trust of safeguarding the value of our money relies on trust of an intermediary where a bank has to be totally honest, transparent, does not fall into financial difficulty and does not eventually collapse or a government which do not irresposibly prints an endless supply of money and bringing down its value in the process or even worse decides to confiscate our money for whatever reason, the odds just do not stack on our side that our money will be safe.
The future of money with blockchain technology, cryptography and consensus mechanism removes the need to fall into the mercy of human greed and error but instead places that trust on mathematics, algorythms and transparency to safeguard your assets and giving you full ownership that no one can take away from you without your consent.
However the biggest plague that is slowing down the mass adoption of cryptocurrencies is the fact that they are prone to speculation and volatility.
WHO WOULD WANT TO ACCEPT A CURRENCY FOR BUSINESS THAT MIGHT BE WORTH A DOLLAR A MINUTE AND BE WORTH 80 CENTS THE NEXT?
Although the supply of cryptocurrencies is controlled mathematically, the value of each coin or token can be very volatile due to speculation and market forces.
This makes them less than ideal to be used for real-world commerce, especially when a coin or token can have value fluatuations of more than 5 to 20% in a very short time.
Although some have identified this problem and came up with the concept of stable coins that were originally planned to be stable and pegged to the dollar, almost none of the current ones are truly stable because they are being traded directly to provide the neccesary liquidity.
And it’s a fact that with trading comes speculation.
Infireum solves this by having a unique dual coin model, with IFR being in the exchange markets to provide the constant and stable dollar to dollar valuation of Inbiq, making Inbiq a true stable coin like how people are used to with regular money.
With the fixed dollar valuation of Inbiq, it is now feasible to conduct business with cryptocurrency, enjoying all the benefits like near instant transactions, security and low transaction fees.
Infireum will be the main disruptive force to finally allowing enterprises, businesses and everyday people to take advantage of all the ups of cryptocurrencies without any of the downs.
Used with InfinitePay wallet, IFR and Inbiq transfers will be simple, safe and instantaneous for everyone, even for people who are not tech-savvy.
Infireum can be and will be easily adopted by any business or anyone for value transfers and commerce.
ENTER THE FUTURE OF MONEY WITH INFIREUM.
Infireum with its Infinite Chain and possibly the first true stable coin, Inbiq, could be that much needed solution to bring cryptocurrency to the masses with all benefits and without the inherent problems.
Currently all stable coins on the market though originally conceptualised to be stable are not truly stable (e.g. USDT, Steem Dollar).
The problem is that the “stable coin” itself is traded directly on exchanges for liquidity and therefore, prone to speculation and volatility.
Infinite Chain solves this by having stable coin; Inbiq and a secondary layer coin; Infireum (IFR).
IFR is the one that is traded and providing liquidity, while Inbiq remains stable and truly pegged to the dollar on Infinite Chain.
Infinite Chain utilises blockchain technology, cryptography and mobile app technology to provide transparency, security and speed for transactions within by having IFR tradable on exchanges for liquidity while stable coin, Inbiq which is pegged to the dollar, remains on chain for all transactions either for commerce or peer-to-peer transfers.
Value transfers out of Infinite Chain will require in-wallet conversion of Inbiq to IFR on InfinitePay wallet, this shields Inbiq from market volatility and keeps it secure.
As a blockchain with multiple nodes worldwide and an unique validation process, Infinite Chain not only has fast transaction speed, it is also capable of holding large amount of data on-chain to function perfectly as a ledger for all transactions on-chain for bookkeeping purposes and transparency.
InfinitePay wallet accepts all other major cryptocurrencies by pairing them with IFR through liquidity provided by partnered exchange so transactions are no longer at the mercy of transaction speed of different blockchains.
The difference in TPS or transactions per second on different blockchains not only affects speed of transfers but also affects the actual exchange rate volatility during time of transfer to actual time of confirmation.
Infinite Chain through mobile application technology and its unique validation process on its blockchain has very high transactions per second rivalling VISA and MASTERCARD.
This makes Infinite Chain, IFR and ultimately, Inbiq ideal for real-world commerce.
All stable coins require audited asset-backed value for investor confidence and very few of these if any, have accomplished this.
IFR relies entirely on the markets through exchanges to provide its liquidity and is entirely transparent. All major cryptocurrencies may be converted to IFR on InfinitePay wallet with liquidity provided by partnered exchange.
IFR may then be converted into Inbiq on InfinitePay wallet for on-chain transactions either for commerce or peer-to-peer transfers, shielded from any market volatility.
This process is securely and swiftly done by having the IFR coins pushed into the partnered exchange for liquidity in real-time to fund InfinitePay wallet and backing the value of Inbiq, dollar for dollar.