What Is Galactrum (ORE)?

Galactrum (ORE) is defined as an autonomous, self-governing, self-funding, and resilient digital currency forked off using the Dash platform. Forking refers to changing the protocol and rules of the blockchain. The network aims to be entirely supported by highly secure cryptographic proofs. Galactrum seeks to utilize the Lyra2v2 chained algorithm for securing block hashing. Lyra2v2 is a highly efficient key derivation scheme based on a password. This scheme aims to assist legitimate users in fine-tuning memory, which processes parallelism and costs as per the desired security level and available resources in the target platform.

The basic concept behind Galactrum is to encourage the exchange of ideas and resist censorship. Galactrum aims to feature masternodes technology that is effective and useful for secure as well as real-time transactions over the network. For better understanding, masternodes are servers that assist in validating instant transactions over the network by locking the coins.

Mining Galactrum favors GPUs and is also ASIC-resistant. Additionally, Galactrum is based upon proven technology from Dash and Bitcoin, for instance, masternodes, coin mixing, transaction locking, and blockchain.

According to the whitepaper, Galactrum (ORE) aims at establishing community control using a voting system and transparent proposal. Any individual may submit a proposal on future development or the current state of Galactrum for a small fee in the form of ORE. Furthermore, the fee is burned, resulting in increased scarcity. The proposal needs to present the changes proposed in a professional and clear manner along with a detailed plan. Writing votes and proposals directly to the blockchain leads to a censorship-resistant and decentralized democracy.

History of Galactrum (ORE)

Galactrum (ORE) was launched in December 2017. ORE has been listed on two exchanges so far, but it claims to bring ideas by enabling people to exchange ideas via proposals and a voting system.