Auroracoin Utilizes Government IDs for a Fair Premine in Iceland
Photo via Helgi Halldórsson. One of the main issues that always seems to pop up with any new cryptocurrency is the problem of premining. Even if an altcoin has a few good ideas, it's extremely difficult to come up with a distribution process that will be fair for everyone. Auroracoin is offering one of the most unique distribution methods I've ever seen in an altcoin, and it could be a model that promotes further cryptocurrency development in other parts of the world. I recently wrote about the reality that no altcoin would ever be able to replace Bitcoin, but the idea of a nationalized....
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A team of Icelandic cryptocurrency enthusiasts is gearing up to launch an altcoin designed specifically for the population of Iceland. Auroracoin is a litecoin-based digital currency, 50% of which is pre-mined. This is where it gets interesting: the pre-mined coins will be distributed to the entire populace of Iceland starting on 25th March. Each one of the country's 330,000 citizens will receive 31.8 auroracoins. Why Iceland? Iceland's banking sector does not have a very good track record, and this appears to be the driving factor behind auroracoin. The team cites the government's use of....
Icelanders will be lining up to sell their auroracoins. Photo via Matt Shalvatis. Many people are pointing to Auroracoin's position at third place on CoinMarketCap.com as proof of this new coin's success, but the reality is that it could be setting itself up for disaster. The coin made headlines when it surpassed Litecoin's market cap, but Auroracoin is not actually closing in on a $1 billion market cap. In fact, the real value of all the auroracoins currently on the market could be lower than $10 million. This would still put it in the top 25, but we could see it drop even lower after the....
Resurgent regional cryptocurrency Auroracoin debuted Iceland’s first-ever cryptocurrency exchange, ISX, allowing the people of Iceland to trade Auroracoin and krona. This week, the Auroracoin Foundation debuted ISX.is, Iceland’s first cryptocurrency exchange. ISX allows the citizens of Iceland to trade króna for cryptocurrency, in this case Auroracoin. Amid a renewed set of financial scandals in Iceland exposed by the Panama Papers, Auroracoin has made a comeback. For the last year, the Auroracoin Foundation has made significant adoption pushes including a brand awareness advertising....
Advertisements for Auroracoin, the Icelandic cryptocurrency, have begun to appear at bus stops all around the country. The advertisement, consisting only of “Auroracoin” in text and the coin’s logo on a white background. The advertisements are part of a public awareness campaign by the Auraráð, or Auroracoin, Foundation. According to Pétur Árnason, Auraráð Foundation chairman, these advertisements are meant to lay the groundwork for a resurgence of the Icelandic cryptocurrency later this year. “We have been preparing for Auroracoin promotion in Iceland for over a year now as we wanted to....
Vice Motherboard released a short documentary and accompanying article on Icelandic cryptocurrency Auroracoin. The film, titled The New Currency at the End of the World, runs about 15 minutes, and follows cryptocurrency advocate Mikjall Hannes as he investigates Auroracoin in Iceland. It includes Pétur Árnason, chairman of the Auroracoin Foundation, outlining his vision for spreading the currency to the people, as well as its main reason for existing: to give the people of Iceland an escape from their current wealth-bleeding financial system. First major coverage outside of Iceland since....