Xaurum (XAUR) is a smart contract and token system built on the Ethereum platform. Xaurum (XAU) switched to the Ethereum platform, this lowered the costs and inflation associated with maintaining a Proof of Stake 2.0 cryptocurrency. Xaurum is a gold backed crypto asset, Xaurum derives its value from the gold reserves they have at the company Loomis this is a safe depository, the gold reserve is maintained by the Auresco Institute. This is a non-profit organization created by Xaurum. 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. Xaurum users have two ways of acquiring tokens, users can earn them in the "Goldmine" or Mint them. When mining on the Goldmine, users are exchanging their hash power in a pool. The proceeds from the pool can be used to buy Xaurum on an exchange and pay the miners. Users can send fiat currencies directly to the Auresco Institute in exchange for new coins. You can also have a masternode. These users do not maintain the blockchain. Instead they need to have a 1000 XAUR, in order to create new coins. This ensures that any fraud attempt would not be profitable for the Xaurum master nodes.