Greetings!Which is the maximum amount of Gold emitted?
The amount of GOLD emitted depends on (a) the validation of deal/ details stored in the blockchain and (b) on the authenticity and value of gold inspected by Custody Bot.
How can it be both backed by real gold and run on blockchain?
A GOLD token can be issued if only GOLDMINT has a troy ounce of physical gold or ETF available to back it. To back tokens with gold means to provide 100% guaranteed anytime GOLD tokens buyback by GOLDMINT their self. That will provide stable price for these tokens which is in lack on market today.
What difference between Goldmint and other gold-based cryptocurrency?
Differences between Goldmint and other gold cryptocurrency blockchains include the following:
Goldmint uses its own blockchain and altcoin, called MNT, for GOLD transactions.
Goldmint uses Proof-of-Stake where miners are doled blocks/ transactions according to the amount of MNT they have. Proof of stake (PoS) is faster, simpler and cheaper than proof of work (PoW).
Physical gold and ETFs are stored in a programmed decentralized storage unit.
Custody Bot - Goldmint’s innovative storage unit is programmed to automatically identify and store gold jewelry, small ingots (up to 100 grams) and coins without human intervention.
With regards,
team GOLDMINT
