Auroracoin is a cryptocurrency for Iceland. It is based on litecoin and is 50% premined. The premined coins will be distributed to the entire population of Iceland, starting at the end of March 2014. An interesting way to encourage coin use and market penetration and similar to Spaincoins marketing push. Difficulty retargets every eight blocks and there is no block reward reduction unlike Bitcoin.
|Mkt.Cap||$ 2.5 M||Volume 24H||0.00000000 AUR|
|Market share||0%||Total Supply||21 M AUR|
|Proof type||PoW/PoS||Open||$ 0.13|
|Low||$ 0.13||High||$ 0.13|
auroracoin begins cryptocurrency 'airdrop' to whole of Iceland
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“People in Iceland have, for the past five years, been forced to turn over all foreign currency earned to the Central Bank of Iceland,” the coin’s creators wrote. “This means that the people are not entirely free to engage in international trade. They are not free to invest in businesses abroad. Unique hashing algorithm - AUR is one of the few coins that utilises a variety of different hashing algorithms, namely Grøstl, Qubit, scrypt, SHA-256, and Skein, to facilitate the PoW mechanism of authenticating blocks. This is different from other, single-algo altcoins, which leads to a more fair and ASIC-resistant blockchain network.
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Iceland’s national ID system was used to conduct the airdrop. Auroracoin is a cryptocurrency for Iceland. It was initially based on Litecoin and 50% premined, later it incorporated the multi-algorithm PoW approach of DigiByte. The premined coins were distributed to the entire population of Iceland, commencing on midnight 25th of March 2014.
The airdrop was meant to distribute the coin more democratically. At the same time, nations where hyperinflation was a threat, chose crypto assets in an organic manner. We strive to help our readers gain valuable, trusted insights through in-depth analysis, high-quality and well-researched News stories and views from the digital currency community experts.
Aurora translates to ‘dawn’. Wear this pendant to celebrate the duality of the ride called life.
It allows you to receive bitcoins, store them, then send them to others. There are two main types of wallets, software and web.
What is Aurora Coin?
How Can I Buy Bitcoin? The most common way to buy Bitcoin is through Bitcoin Exchanges such as GDAX or BitStamp, or directly from other people via marketplaces and auction site. Purchases can be made in a variety of ways, ranging from hard cash to credit and debit cards to wire transfers, or even using other cryptocurrencies. Interested in helping out?
When phase one of the airdrop had completed on July 24, 2014 it was estimated that 1,126,674 AUR had been disbursed among 35,430 claimants, out of a total Iceland population of 323,002 (2013). Auroracoin is a cryptocurrency founded in Iceland in response to the 2008 financial crisis.
An increasing number of merchants are starting to accept it as a valid form of payment, and more citizens signing up for AUR as they learn more about cryptocurrencies and associated technologies.
The final phase of the airdrop took place from November 25, 2014 to March 24, 2015 with nearly 1.7 million coins being claimed by more than 2600 Icelanders. By this time the price had fallen so sharply that the payout had increased to 636 coins per recipient. On April 22, 2015 in accordance with the original airdrop plan, the 5,344,628 unclaimed pre-mined coins were verifiably 'burned' or made inaccessible by being sent to the address AURburnAURburnAURburnAURburn7eS4Rf. Phase 1 of the airdrop began on March 25, 2014, with 31.8 AUR being distributed to each claimant.
- It was initially based on Litecoin and 50% premined, later it incorporated the multi-algorithm PoW approach of DigiByte.
- The distributed amount went up to 318 coins in the second phase and was doubled to 636 coins in the third phase.
- Auroracoin has a fixed supply which supports the value of the currency and works against inflation.
- Auroracoin is a peer-to-peer cryptocurrency developed in Iceland.
Half of its cryptocurrency was pre-mined and distributed to the citizens of Iceland in three phases. During the first phase in March 2014, each citizen of Iceland received AUR$31.8. The distributed amount went up to 318 coins in the second phase and was doubled to 636 coins in the third phase. The remaining 50% of the coins were destroyed.
Mining is the process of spending computation power to secure Bitcoin transactions against reversal and introducing new Bitcoins to the system. Bitcoin is a decentralized peer-to-peer digital currency that is powered by its users with no central authority or middlemen. As the moon follows the sun in a constant cycle of light and dark, there is light and dark to be found in our own lives. Sometimes events occur that plunge us into the deepest, darkest corners of despair and we fear we will never break free. However, time sneaks in and lets shards of lightness on the heavy burden.
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Please email , and let us know how you can help. The master branch is regularly built and tested, but is not guaranteed to be completely stable. Tags are created regularly to indicate new official, stable release versions of Auroracoin.
Official Auroracoin twitter account. A cryptocurrency for Iceland - a community effort toward economic freedom. Auroracoin’s value spiked to $1 billion during the run-up to its launch on were rumors that it was backed by Iceland’s government. But the airdrop resulted in a massive selloff, and Auroracoin’s value crashed to $20 million. In addition to being called a “failed experiment,” Auroracoin was referred to as a scam.
What is Blockchain? Blockchain is a digital ledger in which transactions made in Bitcoin or another cryptocurrency are recorded chronologically and publicly. Explore the most relevant and up to date analysis and opinion on Auroracoin, provided by professional cryptocurrency analysts and contributors. Auroracoin is a safe, secure crypto-currency for making online and point-of-sale financial transactions.
With 10.6 million "pre-mined" coins available, auroracoins were worth $39.71 each with a market cap of $381m, briefly putting it ahead of Litecoin's $423m market cap and Bitcoin's $8bn for the metric. auroracoin, which launched in February, earlier this month briefly became the second largest alternative currency by market cap to Bitcoin (excluding the centrally-managed currency Ripple), according to a report by the Wall Street Journal.
The project remained on the backburner until a new team from the Aurora Foundation took control of it in 2016. This team plans to develop supporting infrastructures, such as cryptocurrency wallets and trading exchanges, for the coin. Iceland was one of the countries most heavily affected by the liquidity and trust crisis unleashed in 2008, with long-term repercussions for the local financial sector. In 2014, as the Icelandic economy still reeled from the crisis, Auroracoin was launched. On March 25, eligible Icelandic citizens that had signed up for the airdrop received their coins.
auroracoin's market cap today stands at $121m, according to Coinmarketcap, which still makes it much higher than Peercoin, Dogecoin, and dozens of others. "These controls were supposed to be 'temporary', but as with so many government actions, they remain in place to this day," said auroracoin's founder, who goes by the pseudonym Baldur Friggjar Odinsson. View Aurora Coin (AUR) price history chart, statistics and other information. In Venezuela, an attempt was made to create a crypto Bolivar to replace the national coin. Iran and Turkey turned to Bitcoin (BTC) as their national currencies reeled.
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Auroracoin was intended to serve as a mechanism for cross-border transfers in the local economy. It is run by the Auroracoin Foundation, which was established in 2015.
There are currently 1 Auroracoin exchanges where you can buy, sell and trade Auroracoin (AUR) with a total 24-hour volume of $ 6.04. The AUR airdrop follows the pattern where a crypto asset is proposed as an alternative to a national currency.