Xaurum The Golden Blockchain
1, What is the name and official website of your coin?
The name of our crypto-currency is Xaurum (XAUR), its official website is
2, Do you have social profile for your coin or groups if there are can you please send us all the links?
The official social links are:
3) Is there an ICO/Premine for this coin?
There was no premine. An initial coinage offer was made to the public for the launch of Xaurum in 2015.
Xaurum was first made as a fork of Blackcoin, with centralized staking nodes “Guardians” that were used for security and burning transaction fees, and a PoS mining pool that mined other crypto-currencies, for the gold funds required for Xaurum coinage.
In 2016, minting was introduced as a new type of coinage, where a masternode with 1000 old xaurum (8000000 new XAUR) is able to mint new money supply. In the summer of 2016 the project migrated to the Ethereum platform, with an organized minting event open for all participants.
4) What is algorithm behind the coin? Standard hash solving mechanism,or like in Primecoin case mining involves finding Cunningham chains or something else?Is coin POS/POW or mixed?
Xaurum is a smart-contract implemented on Ethereum, this means its monetary policy is separate from its security and can therefore be used for different functions. PoW and PoS market elasticity can pose a security risk, and its mitigation can limit its economic functions. In addition, the separation of security and economic mechanisms makes it possible to migrate to the most advanced crypto technology available, making it impossible to become technologically obsolete.
5) What is the purpose of the coin? (Is is only used as currency or there is some deeper system behind it?)
Xaurum is a representative money, based on collectively owned growing gold reserves. The way it is coined, makes each xarum exchangeable for an increasing amount of gold, and distributes the profit of money creation to all xaurum users. Its money supply grows slower than its gold reserves, this is the main innovation of profitable inflation, that will be additionally enhanced by its economic infrastructure composed of different projects that will either reduce the money supply and therefore increase the proportion of gold reserves to the money supply, or increase the gold reserves directly.
6) What is special about the coin? Is it having any form of unique solution implemented?
Xaurum proposes solutions to the problems of different types of money. It solves the problem of the gold standard currencies, by creating an elastic gold based currency, in the way that its price depends both on demand and the value of gold reserves. It solves the problem of fiat currencies, by creating a type of inflation that increases the value of the current money supply and the problems of crypto-currencies, by preserving and distributing the profits of money creation more efficiently.
7) Does dev or the team have any experience that makes them likely to succeed?
The project’s legal responsibilities are handled by Auresco Institute since its beginning in 2014, Auresco is also responsible for gold storage, purchase and development of main Xaurum infrastructure, and its adoption and marketing is done by The Xaurum Foundation, composed of xaurum masternodes and other users, experienced in business and marketing.
8) Can you follow through in your projects?
Since its beginning in 2014, our progress with Xaurum, has been steady, and will remain so. Xaurum’s history is measured in gold, all its economic activity leaves traces of gold behind and preserves and increases its value.
The main goal of the project is to increase the amount of gold reserves, and develop additional projects, that will bring new functionality to the project and increase the amount of xaurum burned. We are cooperating with many other crypto projects, and are currently expanding our markets internationally and talking to banks regarding investment. In 2017 we’re planning on increasing adoption and establishing 5 new projects, within the Xaurum ecosystem.
We believe that the new modes of increasing money supply with resource sharing (farming) will provide additional ways to increase distributed adoption and an increase of users, that will benefit from the use of Xaurum’s developed infrastructure (merchants, prediction markets, storage etc.) and further increase the growth of the gold reserves.
In a hypothetical situation, where Xaurum’s adoption would be approximately that of Bitcoin, this would mean an approximate 70 kg increase of the gold reserves per day.
9) What percentage of coins in circulation will the main developer have?
Developers received no premine and own only the amount they bought for themselves on ICO or the market. The two main devs hav 1450 000 XAUR (BelTiriD) and 116 000 XAUR (nihilnegativum).
10) Which algorithm will be used to verify the transactions, what is the mining reward structure and how would it be sustained?
Xaurum is implemented on Ethereum, its coinage distributes the profit of money creation to all users. The transaction fees of Xaurum are burned, this means the gold reserves of all xaurum increase in proportion.
11, How were the software clients generated (did they use the main Bitcoin client or something else to make their software)?
Xaurum started as a fork of Blackcoin, and has since migrated to Ethereum. After Ethereum’s Metropolis release, Xaurum will become a full ĐAPP
12, What will the estimated price of coins given from an ICO be?
13, Is the coin deflationary with hard cap of coins or not?
There is no hard cap of coins, however the coinage process has some mechanisms of increasing the artificial scarcity (density and production price) which increase the costs of new money supply, creating an increase of value and an increase of money supply.
14, Was is heavily premined, how many coins are in the hands of devs?
Main developers received no premine and own only the ammount they bought for themselves on ICO or the market.
15) Will you implement the same 1MB chain-crippling ‘technology’ supported by the bitcoin core team?
16) If you ever had the chance to talk with Satoshis what would you ask?
What changes would he make, had he anticipated the centralization of PoW money creation with ASICs.
17) Even Vitalik Buterin with Ethereum can’t beat Bitcoin. How you gonna do it.
Crypto is not a zero sum game, we think the adoption of crypto-currencies will increase in the next years, and that a lot of innovation is still possible and necessary for its adoption. The competition with other crypto-currencies isn’t as important as long-term viability of the projects themselves.
18) How much time does a transaction take to process/confirm/validate?
As much as Ethereum needs for its conformations (0.2 min). After the release of the Raiden Network, both costs of transactions in ETH and the speeds of transaction will be greatly improved.
Dev team are transparent and roadmap are reachable one of the crypto currency with a physical back up