Xaurum is a cryptocurrency, having a value XAUR based on the Ethereum blockchain. The value is linked to a specific quantity of gold. It allows the users to exchange the Xaur for gold by a process called melting. Unlike the others, its gold value keeps increasing with its use and coinage. Xaurum boasts of having the first digital Commonwealth. All the fees are collected by the Commonwealth and rewards are distributed to the users by the Commonwealth.
The primary aim of Xaurum is to keep buying gold and increase its value. The company keeps a control over the money supply and allows mining of gold. Xaurum is not mined directly. The users mine altcoins which are then exchanged for gold that increases the Xaurum Commonwealth value based on which new Xaurum tokens are issued.
Xaurum’s value is built on gold and is redeemable for gold. The value increases with usage. The tokens can be exchanged for gold and the commodity can be delivered anywhere in the world. It guarantees of the highest security norms and maintains the transaction transparency on the public ledger with strict privacy as seen with every blockchain technology. The amount of gold remains unchanged even though the amount of Xaur keeps reducing with each transaction.
Xaurum has its own monetary policy that aims to improve the common interests by increasing the commonwealth and this is done by the gold reserves that serve as the source of Xaurum’s value. Xaurum is a typical cryptocurrency based on a collective supply of gold.
The Xaurum’s mining is a process of mining other cryptocurrencies for a price and then exchanged for gold and issuance of Xaur tokens. The higher the number of miners, more is the volume which results in higher market activity and better productivity. Xaurum uses the process of minting rather than mining. Minting can be done by users called Masternodes. To be eligible they must possess a minimum of 1000 Xaurum.
Xaur minting is a high profit generating process. The Xaurum currency is Xau. A Xaurum RICO was held in July earlier. RICO is Rebirth Initial Coinage Offer where all the XAU that are in circulation are collected and fragmented into 8000 XAURs. Initially, 1 XAU had a price of $454.13 and the minting cost was calculated as $ 291.03. This works out very cost-effective as now by investing $ 291.03, a minter can mint 8000 Xaur.
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