It was good day for Xaurum (XAUR), as it jumped by $0.0010481184 or 2.95%, touching $0.0366065056. International Cryptocoin Experts believe that Xaurum (XAUR) is looking for the $0.04026715616 goal. According to 2 analysts could reach $0.0615312271611489. The highest price was $0.0376934432 and lowest of $0.0342385344 for March 13-14. The open was $0.0355583872. It last traded at LiveCoin exchange.
For a month, Xaurum (XAUR) tokens went down -14.53% from $0.04283 for coin. For 100 days XAUR is down -9.19% from $0.04031. It traded at $0.03716 200 days ago. Xaurum (XAUR) has 87.16M coins mined with the market cap $3.19 million. It has 127.11 million coins in circulation. It was founded on 18/08/2016. The Crypto XAUR has proof type and operates under algorithm.
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.
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