By Ervin Lemark - Xaurum, the gold-backed cryptocurrency, has an RICO - Rebirth Initial Coinage Offer - going on which will end in less than 14 hours.

Xaurum (XAU) is currently at the position #35 of the CoinMarjetCap's Crypto-Currency Market Capitalizations list with market cap of $ 3,692,021.

WHAT IS XAURUM?

Xaurum is the unit of value on the golden blockchain, it represents an increasing amount of gold and can be exchanged for it by melting. Xaurum Golden Blockchain is a transparent ledger of accounts that accounts for the distribution of gold owned by the Xaurum CommonWealth, to provide an increasing base to Xaurum value. The CommonWealth is maintained by Auresco Institute physically and Guardian nodes digitally,

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WHY IS IT DIFFERENT?

Xaurum is gold based. It is like owning gold in a non-physical form and without all the fuss. Main features are:

• Xaurum value is based on gold and exchangeable for it.
• The gold based value of xaurum is growing with its use and coinage.
• Xaurum is exchangeable for gold and is delivered anywhere in the world.
• The more there are xaurum coined and in exchange, the greater the value of one xaurum in gold.
• New xaurum is coined at the goldmine. the more miners there are, the more profitable they mine.
• All transaction fees are collected by the guardian, and its value is distributed to all the users.
• Guardians nodes make 51% attacks impossible.
• Auresco Institutehttp://auresco.aurumproject.io/ an open non-profit Xaurum foundation.

WHY RICO?

1. With rebirth Xaurum will Transition to Ethereum from the bitcoin blockchain.
2. You cam take part of open Xaurum coinage at lower cost
3. It will be split: 1 XAU = 8000 XAUR

The funds collected during the event will be spent on gold, as determined by Xaurum coinage formula, and the profit of creating new Xaurum ( mint profit ) will be distributed among the RICO investors

Read more on bitcointalk RICO ANN.

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SHOULD YOU PARTICIPATE?

If you see gold as the only real money and you see cryptocurrencies as the only distributed storage of value then Xaurum is for you. It is best of both worlds.

WILL I PARTICIPATE?

Yes, I will. At least I will try to squeeze some bitcoin into the RICO at the last moment. I will report about it in the days to follow.

Resources

Initial article about Xaurum
Xaurum RICO
Bitcointalk thread
Auresco Institute
XAU @ CoinMarketCap

Disclaimer

I am in no way affiliated with Xaurum or Auresco Institute. I found out about Xaurum two days ago and I am fascinated by the idea and the whole project. As I am with SteemIt.

Both are bringing us something new and fresh with a huge potential for growth.

#xaurum #gold #money #cryptocurrency #ethereum