AUXILIUM CRYPTOCURRENCY: PHILANTHROPIC AND GREEN INNOVATION
TESTING UNIQUE AND INNOVATIVE CODE
FUTURE PROOF WITH LIMITLESS FUNCTIONALITY
Auxilium Global was founded by a group of like-minded individuals from around the world, each with an interest in conservation, renewable resources and helping others. They came together through cryptocurrency.
The original intent was simply to operate a cryptocurrency within these guidelines, however as we began to discuss the opportunities and possibilities, we soon realised there was plenty of scope to expand our horizons and dream bigger.
Since then Auxilium Global has expanded its charter to include all forms of philanthropy, as well as education and awareness relating to each of these areas. Core goal is to affect real change in the world for the betterment of all people, animals and of course, the planet.
Auxilium Global is the parent organisation that founded the cryptocurrency, Auxilium. The team of eight operates under the Auxilium Global banner. We manage and maintain Auxilium, and will continue to churn out new ideas and initiatives as we grow. Auxilium is based on the Ethereum code-base and is likely the first such currency to have launched with PoS (Proof of Stake) rather than PoW (Proof of Work) or an hybrid (PoW/PoS).
Decision for PoS implementation into the code-base was easy as Auxilium is all about conservation and wanted to back-up the environmental position and standing. As is the case with Ethereum, Auxilium has smart contracts, tokens and the ability for a developer to write dapps for use on the Auxilium blockchain.
JOIN THE MOVEMENT. MAKE A DIFFERENCE.
Why invest in environmental conservation, sustainability, fair trade, green farming and a variety of other charitable causes, you may ask…The idea of helping the world, of giving back to communities, of being involved in some meaningful way, creating a better, brighter future for us, our children and for future generations, is one of the driving forces of Auxilium Global.
In this increasingly materialistic world, a world where most struggle just to survive and where the population continues to grow more rapidly each year, they feel strongly that our only chance is to come together as a global community, to help each other, to band together on a global scale.
Sustainability, green, bio and ecological farming and more charity are key to any sort of a bright future.
The Auxilium wallets are the first to combine Ethereum’s code-base and PoS and in time work will be done to implement more features in coming versions of the Auxilium wallet, features that will not only benefit Auxilium holders through high yielding Proof Of Stake, but also, everyone else too.
TESTING THE UNIQUE AND INNOVATIVE AUXILIUM CODE
While most cryptocurrencies are using PoW, or PoW/PoS hybrid, there are also cryptocurrencies like Ethereum who are shifting towards PoW/PoS and in a final stage to PoS (Ethereum Casper project). On the other hand there are cryptocurrencies with Bitcoin-based code that try and implement smart contracts (from Ethereum). While there are shifts being made no cryptocurrency has come closer than Auxilium to create an unique code with the best of both worlds.
Everything that is new needs testing. A testnet is used by most serious cryptocurrencies to test the wallets and network before launch. Especially when performing something totally new, without comparative projects or code, a testnet with volunteers is crucial.
The Auxilium TestNet, the final test of the wallets to prepare for launch to the MainNet, is on the way. Volunteers from our strong community are testing the Windows, MacOS and Linux wallets on the TestNet and make transactions with the AUX (symbol of Auxilium) testcoins. Besides transactions they test staking on Ethereum and creating single user contracts and multi signature contracts as shown in guides provided by Auxilium. With participating in the TestNet the community will gain more knowledge about the product we are going to use and the possible functionality that comes with it. This way we as ‘philanthropic and green cryptocurrency’ also hope to create a strong knowledge base within our community, like already showcased with our translations of the content in 10 languages (English, Spanish, Portuguese, Japanese, Korean, Russian, Italian, German, Dutch and French) on Discord.
The Auxilium Team is excited with the advantages of the code, which they see as a great step into the future of blockchain technology.
ADVANTAGES OF AUXILIUM CODE
POS IS CERTAINLY THE WAY TO GO FOR TRADITIONAL BLOCKCHAIN TECHNOLOGY
The main advantages of PoS over PoW are that PoS is more: environmentally friendly, decentralised, focussed on equality and secure.
With PoS there is no need to consume large quantities of electricity in order to secure a blockchain. It’s estimated that both Bitcoin and Ethereum burn over $1 million worth of electricity and hardware costs per day as part of their consensus mechanism.
Proof of Stake opens the door to a wider array of techniques that use game-theoretic mechanism design. With this, less incentive for the formation of centralised cartels and, if they do form, less incentive from acting in ways that are harmful to the network (eg. like selfish mining in proof of work).
Also reduced centralisation risks, as economies of scale are much less of an issue. $1000,- of coins will get you exactly 10 times higher returns than $100,- of coins, without any additional disproportionate gains because at the higher level you can afford better mass-production equipment.
Last PoS uses economic penalties to make various forms of 51% attacks vastly more expensive to carry out than proof of work.
LIMITLESS FUNCTIONALITY, REWARDS AND MORE
Besides the specific advantages of PoS the unique Auxilium code carries much other main advantages.
It for instance offers more autonomy for its users. With smart contracts, there are fewer obstacles in your path. You’re assured a smoother journey and intact payload, upon arrival at your destination.
The use of our wallets is secure. Due to the nature of blockchain technology, your transactions and smart contracts are very safe and reside in a distributed ledger, not easily altered.
Third of all it tackles redundancy. All transactions and smart contracts are duplicated across each of the nodes on the network. Your transactional history and contracts, are immutable.
And while using Auxilium you save money. Using smart contracts, you’re able to interact directly with the intended recipient, rather than working through one or more intermediaries.
Smart contracts are not only faster, cheaper and immutable, but they also help minimise human error associated with manually filling out lots of forms.
Last but certainly not least you can stake your Auxilium. Staking can earn you up to 8% interest annually. Additionally, 8% of the 8% is automatically contributed to a charity fund, allocated in consultation with the community.
Next article: Auxilium Team about importance for a true philanthropic and green cryptocurrency. Expected next week.
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