Like stated in our previous publication we're picking up the pace. This week we had another meeting with our blockchain partner Applicature and an internal meeting to (re)set everything in place so we can properly move on and make some real progress.
We're still improving on several aspects in order to be able to apply for a listing on a major cryptocurrency exchange.
The primary focus these days is to improve the network stability before moving on with several other aspects within our cryptocurrency company. There are several ways to improve network stability. One of the main factors why we sometimes experience network instability is wallets from other cryptocurrencies (also Ethereum forks, like for instance Ethereum Classic) try to connect to the Auxilium network. As a result the network needs to reject many connections. These rejections count as connection attempts and add to the total connection attempts on the network. The network bucket gets flooded so to speak making the network instable and making it harder or impossible for others with an Auxilium wallet to connect to the network. Network instability does not affect the safety of your AUX coins on the blockchain, but does affect the functionality of the wallet and the overall user experience. We're well aware this can be frustrating and this is one of the reasons why stabilising the network is our number one priority. Another reason of course, with the major cryptocurrency exchange listing in mind, is that we're preparing the network for a larger user base.
Besides improving the network stability we're looking into the possibilities for a different wallet (more on this subject after the network is more stable), working on the whitepaper and will most probably have to undergo some legal tests in order to be able to apply for a major cryptocurrency exchange.
You might ask yourself which exchanges we have in mind when talking about "major cryptocurrency exchanges". We'll try not to mention names here, as we don't want to give false hope, or unintentionally misguide you or others. However, we can give some key aspects of a major cryptocurrency exchange we'll apply for:
- No listing fee. We didn't conduct an ICO, and have no funds at the moment to list on an exchange. There are some well-known exchanges who list for free, if a cryptocurrency checks all (or more) requirements. Exchanges that care more about the innovation and necessity of a project than the amount of money they are willing to pay to get listed.
- Real volume. There are many cryptocurrency exchanges that have fake volume. These exchanges have a low(er) number of users, but have a very high 24h trading volume. This fake volume is created by bots buying and selling (mostly) their own coins. Resulting in high volume, however no positive price action and no real community growth.
- Real users. We're aiming for an exchange with many real users. A large user base combined with real volume. We rather list on an exchange with 500 thousand real users with each $10,- trading volume than 5 thousand users with each $10,000 trading volume (most likely trading bots).
- Worldwide accepted and known exchange. It's important to be listed on an exchange that is easy accessible to most people and is also an exchange where people want to create an account; or even better: already own an account.
- Good reputation. As a philanthropic cryptocurrency that want to create and support philanthropic projects it's important to be listed on an exchange that can be trusted. A strong track record both technologically and socially.
Once we've applied for listing on an exchange, and we're legally allowed to publish information about the listing, we'll inform you on our social platforms like in the case of any other publication. Also we'll update the roadmap on our website with some extra details about one or more listing applications.
We're still improving the website to make it more informative and make it clear for the audience what Auxilium has to offer and which advantages our technology has compared to other cryptocurrencies. At this point it's not if Auxilium has advantages over other cryptocurrencies (because we do! https://auxilium.global/advantages-of-innovation/), but how we display and market these advantages. One of the things we'll improve shortly is our projects page which displays the actual use cases we're working on. The future use cases are already represented in the roadmap. One of these use cases is the Auxilium crowdfunding platform.
This week we've set the first steps to create our own crowdfunding platform on the Auxilium blockchain. There are many crowdfunding platforms on the markets. However, unfortunately many have a bad or at least far from perfect reputation. The platform will use smart contracts to increase fairness and transparency. We hope to soon inform you a bit more about the actual features and functionality of our own crowdfunding platform.
This crowdfunding platform can potentially also be used to host ICO's of tokens created on our own blockchain!
Many things to come!
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