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Built to last, Aurumcryptogold is a digital currency that enables swift peer-to-peer transactions globally. The secure nature of the digital currency combined with the ease of use makes Aurum available for usage in a wide variety of applications.
ASIC devices can benefit from the mining-friendly nature of Aurum, which allows for more efficient mining practices.
Being a PoW currency, Aurum provides a high level of security while ensuring transactions are safely processed and confirmed.
The high network security and safety measures enabled by Aurum ensure that the ecosystem remains resistant to 51% attacks.
SegWit allows Aurum to keep transaction fees to a minimum and assists in scaling transaction volume.
The DGW difficulty retarget algorithm helps Aurum achieve a smoother difficulty retarget mechanism.
The SHA256 algorithm is a powerful cryptographic hash algorithm and is the foundation on which Aurum was built.
A limited supply unlocks a lot of hidden potential for users today who will find Aurum in high demand in the future.
Aurumcryptogold is our native transactional crypto product that functions as a decentralised currency, enabling peer-to-peer transactions over the internet. Aurumcryptogold and its native currency, ACG, exist on a blockchain solely created to maximise the quality of transactions. We chose to exist on a separate blockchain to prevent any bloat that may arise from multiple currencies existing on a single blockchain, while additionally providing ACG with added security and functionality.
There is a maximum supply of 51,940,422 ACG, with 3,799,999.8 ACG already pre-mined. The remaining currency is ready for mining with tools (wallets, explorer) developed to guide and assist users.
A 51% attack is a type of attack on a blockchain network where a single entity or group of entities controls more than 50% of the network's computing power. This allows them to manipulate the network by controlling the validation of transactions and potentially reversing transactions, double-spending coins, and gaining other unauthorised access to the network.
A 51% attack can be devastating to the ecosystem if not handled correctly. We remain secure through the implementation and presence of the following features:
The more decentralized a blockchain network is, the less likely it is for a single entity to gain enough computing power to launch a 51% attack. Therefore, it's essential to design and maintain a decentralized network with distributed nodes.
Blockchain networks that use proof-of-work (PoW) consensus mechanisms, such as Bitcoin, are vulnerable to 51% attacks. However, other consensus mechanisms, such as proof-of-stake (PoS), delegated proof-of-stake (dPoS), and practical Byzantine fault tolerance (PBFT), have been designed to mitigate the risk of 51% attacks.
Increase Hashing Power:
To prevent a 51% attack, the network must have sufficient hashing power. One way to achieve this is to buy hash power from a 3rd party provider. This will offset the percentage of control that a 3rd party has over the network, thereby increasing the network's hashing power and reducing the likelihood of a 51% attack.
It's essential to monitor the network for any unusual activity or spikes in computing power. We have deployed monitoring tools that can detect unusual behavior and alert the network's administrators immediately.
In case of a 51% attack, the network can implement a hard fork to reverse the attack and restore the network's integrity. A hard fork involves making significant changes to the network's code, which can result in a new network version. This can be a contentious process, so we have a plan in place in case of a 51% attack.
Proof-of-work (PoW) and proof-of-stake (PoS) are two of the most common consensus mechanisms used by blockchain-based cryptocurrency projects, while proof-of-stake authority (PoSA) is a newer variation of PoS. Each of these consensus mechanisms has its advantages and disadvantages, and the optimal choice depends on the project's goals and requirements.
One advantage of PoW over PoS or PoSA is its security. PoW networks are more resistant to 51% attacks because the attacker would need to control more than 50% of the network's computing power to manipulate the network. On the other hand, PoS and PoSA networks are more vulnerable to such attacks since an attacker would only need to control 51% of the network's cryptocurrency to manipulate the network.
Another advantage of PoW is its proven track record. PoW has been used by Bitcoin since its inception, and it has demonstrated its ability to secure the network for more than a decade. In contrast, PoS and PoSA are relatively new and have not been tested as extensively as PoW.
Additionally, PoW encourages miners to contribute computing power to the network in exchange for block rewards, which can incentivize more miners to join the network, resulting in increased network security. In contrast, PoS and PoSA incentivize validators to hold a certain amount of cryptocurrency, which could potentially lead to centralization if a few large validators hold most of the cryptocurrency and exert control over the network.
However, PoW is not without its drawbacks. It is energy-intensive, with the electricity consumption of Bitcoin mining equivalent to that of a small country. PoW networks also tend to have slower transaction processing times compared to PoS or PoSA networks.
Initial coin offerings (ICOs) have been a popular way for cryptocurrency projects to raise funds in recent years. However, some projects choose to fund their development and launch in other ways. One such approach is for the project team to fund the project themselves, without relying on external investors through an ICO.
Our cryptocurrency, AurumCryptoGold (ACG), is an example of a project that did not have an ICO. Instead, the project was fully funded by our team. This approach allowed us to maintain full control over the project's direction and development without any outside influence. It also ensured that we did not have to meet any external requirements or obligations to investors that could conflict with our vision for the project.
By funding the project ourselves, we were able to prioritize our development goals and make decisions that aligned with our vision for the cryptocurrency. We also had the flexibility to adjust our plans and make changes to the project's direction without worrying about the interests of external investors.
Overall, while ICOs can provide a significant funding boost for cryptocurrency projects, self-funding can be a viable alternative for projects that value independence and control over their development. Our team is proud to have funded our project this way, and we are excited to continue to build and improve our cryptocurrency for the benefit of our users.
Head on over to the mining section found near the footer section of the website. It will take you our quickstart guide which will assist you in all the steps necessary to start mining your first ACG.
Aurum is multi-faceted and is referred to by four different denominations that are equivalent to how much ACG a user possesses.
1 Gold Bar = 1 ACG
1 Biscuit = 0.1 ACG
1 Sovereign = 0.01 ACG
1 Aurum = 0.001 ACG
Max Supply (ACG)