Gold-Backed Cryptocurrency Xaurum Announces Rebirth Event ICO
- XAURUM is offering a ground floor opportunity to be a 'cryptogold' pioneer.
In the course of the last year, XAURUM has steadily moved ahead with its vision and this vision has proved to function in practice and according to developers has undergone tweaks in details and implementation that have resulted in increased market cap. Developers further state that XAURUM differs from most other cryptocurrencies on the market due to the fact that a portion of the value of XAURUM is stored as gold reserves of XAURUM Commonweatlth representing a lasting achievement regardless of it's future.
The transparency and the security of the XAURUM Commonwealth gold reserves are provided by NADIR Gold Refinery and Loomis Financial Storage.
XAURUM is considered to be a unit of value on what is referred to as the 'golden Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term', each XAURUM in exchange is backed by 1 gram certified gold of 999.9 purity and can be melted and exchanged using Auresco Institute Online or globally. At the time of this publication, current value of 1 unit of XAURUM is hovering around $493 USD and is by all indications looking to move well beyond those numbers moving ahead into the 2nd phase or as developers have described as the 'rebirth' of Xaurum.
Acknowledging the will of the XAURUM community the rebirth will begin to split each original XAURUM into 8000 separate fragmented units ( 1 XAU = 8000 XAUR ) increasing the supply available on the market and enabling coinage open to all at a significant discount during the 'RICO' event.
Minting will be open and available to all of those who would like to participate and funds collected during the event will be used to purchase additional gold as defined by the XAURUM coinage formula. Profits in the creation of new XAURUM units will be distributed among 'RICO' minters and investors.
The XAURUM 'Rebirth' also brings a much needed upgrade in its technology, transitioning from the Blackcoin PoS blockchain to the Ethereum platform. During the transition the standard rules of operation will be slightly altered in order to benefit potential new users, during this time limitations will be removed and all new users will have the ability to mint XAURUM. Transition will last a period of 12 days and although the event appears to be a run of the mill ICO or initial coin offering it differs greatly as funds will be used as per XAURUM coinage formula with 'stated modification'. Collected funds will then be invested in gold, increasing the amount of gold owned by every coined XAURUM in existence.
Although the event represents a very exciting time for the Xaurum community there are many that argue that the concept behind most cryptocurrencies is the idea of having a distributed electronic method of value transfer without the need to be tied to a physical location, further arguing that the addition of gold eliminates the advantages of cryptocurrency due to the fact that the asset it is attached to is stored centrally and exposed to negative effects of government regulation.
Whatever your stance is on gold backed cryptocurrency, Xaurum by all appearances seems to have found the right balance and to this point has been very successful at mixing the two components. Only time will tell if the union will continue to flourish and if by chance it does XAURUM is offering a ground floor opportunity to be a 'cryptogold' pioneer.
In the course of the last year, XAURUM has steadily moved ahead with its vision and this vision has proved to function in practice and according to developers has undergone tweaks in details and implementation that have resulted in increased market cap. Developers further state that XAURUM differs from most other cryptocurrencies on the market due to the fact that a portion of the value of XAURUM is stored as gold reserves of XAURUM Commonweatlth representing a lasting achievement regardless of it's future.
The transparency and the security of the XAURUM Commonwealth gold reserves are provided by NADIR Gold Refinery and Loomis Financial Storage.
XAURUM is considered to be a unit of value on what is referred to as the 'golden Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term', each XAURUM in exchange is backed by 1 gram certified gold of 999.9 purity and can be melted and exchanged using Auresco Institute Online or globally. At the time of this publication, current value of 1 unit of XAURUM is hovering around $493 USD and is by all indications looking to move well beyond those numbers moving ahead into the 2nd phase or as developers have described as the 'rebirth' of Xaurum.
Acknowledging the will of the XAURUM community the rebirth will begin to split each original XAURUM into 8000 separate fragmented units ( 1 XAU = 8000 XAUR ) increasing the supply available on the market and enabling coinage open to all at a significant discount during the 'RICO' event.
Minting will be open and available to all of those who would like to participate and funds collected during the event will be used to purchase additional gold as defined by the XAURUM coinage formula. Profits in the creation of new XAURUM units will be distributed among 'RICO' minters and investors.
The XAURUM 'Rebirth' also brings a much needed upgrade in its technology, transitioning from the Blackcoin PoS blockchain to the Ethereum platform. During the transition the standard rules of operation will be slightly altered in order to benefit potential new users, during this time limitations will be removed and all new users will have the ability to mint XAURUM. Transition will last a period of 12 days and although the event appears to be a run of the mill ICO or initial coin offering it differs greatly as funds will be used as per XAURUM coinage formula with 'stated modification'. Collected funds will then be invested in gold, increasing the amount of gold owned by every coined XAURUM in existence.
Although the event represents a very exciting time for the Xaurum community there are many that argue that the concept behind most cryptocurrencies is the idea of having a distributed electronic method of value transfer without the need to be tied to a physical location, further arguing that the addition of gold eliminates the advantages of cryptocurrency due to the fact that the asset it is attached to is stored centrally and exposed to negative effects of government regulation.
Whatever your stance is on gold backed cryptocurrency, Xaurum by all appearances seems to have found the right balance and to this point has been very successful at mixing the two components. Only time will tell if the union will continue to flourish and if by chance it does XAURUM is offering a ground floor opportunity to be a 'cryptogold' pioneer.