Not exactly. What I had in mind was its value tied to gold for stability, not directly backed by it.
That could be achieved by controlling the supply instead of haphazard mining.
How do you tie the value of a cryptocurrency into the value of gold without directly backing it?
Would you somehow have the current amount of known gold tied to the current amount of currency.
or
Would you somehow have the current price of gold tied to the current price of the currency.
or
Would the current price of gold change how much of the currency is mined.
Sorry, I am thinking out loud hoping I will hit upon what you are thinking. Honestly, I am slightly confused.