Xaurum, the second value of the cryptocurrency after bitcoin, which is backed by gold, is preparing for the second phase of its development.
The developers have prepared a new platform based on Ethereum, in connection with 18.07.2016 will begin prior distribution( Initial Coinage Rebirth Offer or RICO) new tokens XAUR, which may participate everyone. Funds collected during RICO, will be spent on the purchase of gold according to the generation algorithm of the coins Xaurum, and profit from the creation( minting) the new token will be distributed among the investors RICO(chasers).
Based cryptocurrencies Xaurum are constantly growing gold holdings it community that provides a secure way to store tools and such system functions of money as a tax on the right to mint coins, the flexibility of the money supply and inflation profitable. Coin Xaurum at any time can be exchanged for gold( melting) or sell at the current rate( xaurum and gold).
The first phase of Xaurum
Xaurum was launched with the cost of 1 gram of gold per coin, which for the year increased to 2.26 g, while the General condition of the community Xaurum increased from 1 kg to 17 kg of gold. In dollar terms the price of a coin rose from $50 to $530 per year, which is 226%. The market capitalization of the XAU rose from $88 000 to 3 000 866, which allowed the coin to get into the top 30 cryptocurrencies. Team Xaurum also signed an agreement with the company on cleaning of gold NADIR for the purchase and company Loomis for the safe and secure storage of the gold reserves of its community.
The second phase Xaurum
After securing several very important agreements agreements (with companies NADIR and Loomis ), Xaurum ready to move to phase two, because onovremenno the high price of coins and a small number of them( 7,487 XAU ) became inconvenient for trading the coin on the exchange, which led to the decline in market demand. As a result it was decided to divide the coins (1 XAU = 8000 XAUR) and organize RICO in order to increase the number of coins on the market, and shift from technology to the Blackcoin PoS platform smart kontaktov the Ethereum, which the developers consider to be the most progressive and flexible.
After one and a half years of continuous operation proof of stake( POS), Xaurum goes to the platform of smart contracts, Ethereum, which we, in spite of the problem associated with the incident TheDAO, believe to be the most reliable, modern and advanced,
— said representatives of Xaurum
This will create the first precedent when the project moves from one platform to another, but no challenges or problems does not arise.
Important points:
1. Xaurum will stop PoS blockchain and smart contract Ethereum.
2. All algorithms generate coins( coinage) will be updated.
3. Xaurum Ticker will be changed from XAU to XAUR.
4. All coins will be converted to XAU XAUR at the exchange rate 1 XAU = 8000 XAUR.
5. RICO will last for 12 days.
6. During RICO chasing Xaurum will be open to all investors.
7. The cost of minting the coins will match the price of the coins during RICO.
8. The testing phase of the new Xaurum will last until the end RICO and will be expanded in case of emergency.
9. The old blockchain will be replaced, however, the team Xaurum will provide its users with a grace period of 6 months to exchange XAU to XAUR.
Downvoted. This is a ripoff of this Cointelegraph article.
I just went through and saw how much manual curating you're doing. People of your size who do this are basically the key to Steem's viability. Just wanted to thank you and upvote a random comment. Cheers.
Thanks eeks. Your encouragements are all the more heart-warming, in that praise for what we are doing is so rare and far in between. Sadly, abuse prevention is an ungrateful and unpopular activity, and it seems that most Steemians, even the ones who are good citizens, fail to understand what a quagmire this place would become if no-one was doing the dirty job, and they easily side with users who come whining that it's unfair after having, and rightly so, been prevented from abusing the system. If you'd like to help, you are welcome to join us on Slack in #steemitabuse (soon to be moved to steemit.chat)!
Interesting article. Really appreciate you bring this to our attention. I strongly advice people to only buy in to cryptos that have a solid background: A solid team, product, advisors, preferably VC investors, etc. Sell all cryptos that don't have this solid background. It's a waiste of money. Do you know this interesting site? https://www.coincheckup.com. Every single coin can be analysed here based on: the team, the product, advisors, community, the business and the business model and much more. For example: https://www.coincheckup.com/coins/Xaurum#analysis To watch Xaurum Detailed analysis.