XAUR
Xaurum Rank 3773
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Xaurum
Xaurum Price $ 0.0259
$ 0.0259
Xaurum 24h Vol
$40,080
$40,080
Xaurum Market Cap $0
$0
24h Vol
1 BTC 1 H
-0.06 %
24 H
-2.61 %
7 d
11.42 %
Today Xaurum price in US dollars is currently
0.0259
USD, and if converted to Bitcoin is
0.00000059
BTC. A total of N/A are currently circulating in the Market. Xaurum price is currently experiencing a change of -2.61 %, and check here all cryptocurrency. Over the past 24 hours 0.000 M US dollars Xaurum have been traded on Crypto Exchanges. Get Xaurum's progress by adding it to your favourites and creating a free portfolio.
Full Name
Xaurum
Symbol
XAUR
Algorithm
BTC Price
0.00000059 BTC
BTC Market
0 BTC
BTC 24h Vol
1 BTC
Total Coins Mined
0 XAUR
1h
-0.06 %
24h
-2.61 %
7d
11.42 %
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Description
Description
Xaurum (XAUR) is a smart contract & token system built on Ethereum. It was developed from the previous PoS blockchain, Xaurum (XAU) which was migrated to the Ethereum platform to lower costs and inflation associated wwith mantaining a Proof of Stake 2.0 cryptocurrency.
Xaurum is gold backed crypto asset, that derives its value from the gold reserves maintained by the Auresco Institute, a non-profit organization created by the Xaurum team. Xaurum is ment to be used as a store of value since the gold base that backs Xaurum is always growing.
The former cryptocurrency, Xaurum (XAU) had an ICO period, in which 1016 XAU coins were sold. In the RICO period, these XAU coins are exchangeable for XAUR at a 1-8000 rate. During this RICO period, anyone was also allowed to send cryptocurrencies and fiat currencies to the Auresco Institute to recieve newly created XAUR.
In this smart contract system, the old PoS XAU coins that were swapped and the ones that were minted in the RICO period will be in circulation (all of these coins have been backed by gold), and the remaining supply is locked (the locked supply is not backed by gold). Xaurum users have two ways of acquiring tokens, you can earn them in the "Goldmine" or Mint them.
When mining on the Goldmine, users are exchanging their hashpower in a multipool. The earned coins from staking and mining these cryptocurrencies is used to buy more gold and to release Xaurum that was previously locked into circulation, by backing it with the newly bought gold. The proceeds from the Multipool can also be used to buy Xaurum in an exchange and pay the miners, depending on the market value of Xaurum, mined cryptocurrencies and the gold itself.
when Minting new coins, users are allowed to send fiat currencies directly to the Auresco Institute in exchange for new coins. These users are called Masternodes but they do not mantain the blockchain. Instead, they are required to have a 1000 XAUR collateral (like Dash masternodes), in order to create new coins. This ensures that any fraud attempt would not be profitable for the Xaurum masternodes.
Profits from running the PoW multipool and from the Minting process are sent to the Commonwealth wallet, and allow the Xaurum system to increase their gold supply at a must faster pace than the XAUR supply itself.
