Xaurum is a decentralized cryptocurrency that somehow resembles fiat money. Every Xaurum coin is backed by a particular amount of gold. The mechanism
Xaurum is a decentralized cryptocurrency that somehow resembles fiat money. Every Xaurum coin is backed by a particular amount of gold. The mechanism of creating Xaurum coins counters runaway deflations and inflation. This digital currency is either mined or minted to enter circulation. Minting and mining Xaurum increases the profits of the minters and the commonwealth gold. The coinage method was developed to decentralize Xaurum because high amounts of Xaurum are not beneficial in any way.
Xaurum entered its second development phase on July 18, 2016. It underwent some adjustments that are paying off. The supply of Xaurum coins was dramatically increased. The old Xaurum coin split into 8000 parts to form the new Xaurum coin. Also, the system transitioned to Ethereum Smart Contracts from the Proof of Stake protocol. This transition altered the currency mode of Xaurum from XAU to XAUR.
Xaurum aims to be the best monetary form in terms of systematic functions like distributive seignorage elasticity of money supply, profitability of inflations. Xaurum can be exchanged for gold. The exchange is referred to as “melting”. The gold is secured in bank vaults and insured against theft. Xaurum uses certified 999.9 investment gold purchased from the Good Delivery refineries.
Initially, 1 Xaurum coin was equivalent to 1 gram of gold. However, its value has increased and it is currently at 2.26 grams. Xaurum reserves (Xaurum Commonwealth) have grown from 1kg to 17kg. In addition, the price of Xaurum has increased from $50 a piece to $530. Its market cap increased from $88,000 to $3,866. As a result of this growth, Xaurum is amongst the top 30 digital currencies of today.
http://www.xaurum.org/ provides Xaurum wallets. There are also downloadable wallets for Mac OSX, Linux and Windows. It’s now time for Xaurum to move to a modern crypto infrastructure away from the limitations of technology. This is the best way for it to grow consistently into a currency that can be trusted in the digital currency trade market.