Despite ongoing challenges faced by Ethereum, the Blockchain platform has received what could be described as a “Vote of Confidence” as Xaurum initiates migration from its Blackcoin PoS Blockchain to the Ethereum platform.
Xaurum is a cryptocurrency with a growing gold reserves commonwealth as its base value. A recent announcement from the Xaurum community says that it is about to enter into the second phase of its development. This transition is referred to as the “Rebirth Initial Coinage Offer,” a transition that will enhance an increase in the supply of Xaurum in the market, and also include an upgrade of Xaurum technology, as it will relocate from its Blackcoin PoS Blockchain to the Ethereum platform.
ETH or ETC chain?
The co-Founder of Cashila, Jani Valjavec recognises the fact that since Xaurum is a cryptocurrency backed by gold, automatically it has become impossible for Xaurum to go down to zero. A situation which he describes as a really interesting one for old economy guys entering the new economy.
Valjavec says:
“They keep asking all the time "what is this backed by?". There is no need to maintain your own Blockchain while you can use the Ethereum platform as a "Blockchain or as a service". In this case that's so natural, yet the first case of such a move.”
Valjavec concludes by recognising this development as a “Vote of Confidence” by the Xaurum community on Ethereum despite its prevailing struggles. Saying that, it would even have a bigger impact if they publicly announced that they will launch on ETH chain and not on ETC.
Move could be dangerous for Xaurum
Christopher Franko, President of Borderless Charity and Founder, Borderless.tech, retains a less optimistic opinion about this development.
According to Franko, recently ETH received a huge blow to its credibility and brand recognition. When you add in all the replay attacks caused by the ETH civil war, it quickly becomes dangerous for Xaurum.
Franko says thinks that the Xaurum announcement will not only get lost in all the fighting, that even if it gets noticed they become just another dapp on ETH while they could have been one of the flagship dapps on Expanse.
Franko says:
“It would be better for them to use Expanse, because it's not only more affordable for Xaurum to maintain their asset's contract, but also Expanse is safe from the replay attacks, questionable ETH distribution and brand confusion.”
He continues by pointing out that two months ago, ETH would have been the better hand to play, but today, that's no longer the case. Perhaps in the future when the dust clears it will get better, but that's if the ETH leadership can get it together.
However, Franko reveals to Cointelegraph that if what his sources tell him is true, that might be months from now.