What is Auroracoin?

"Auroracoin is a cryptocurrency for Iceland. 21.000.000 coins, block reward 25. It is based on litecoin and is 50% premined. The premined coins will be distributed to the entire population of Iceland, commencing on midnight 25th of March 2014. Auroracoin is designed to break the shackles of the fiat currency financial system in Iceland.

Iceland has been hit hard by financial meltdown and inflation. Not only did the entire banking system collapse in 2008, but the monetary history of Iceland is one of inflation, devaluation and currency controls. Auroracoin is an opportunity for Icelanders to free themselves from currency controls and government debasement of the currency."


-BitcoinTalk.com
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General

TICKER SYMBOLS
AUR
AGE
5 years old (February 21, 2014)
CURRENT PRICE
$0.192654
Updated 2 minutes ago via cryptocompare.com
CHEDDUR ALL TIME HIGH
$2.4
Last year
CIRCULATING SUPPLY
17,582,030 coins
Updated 5 minutes ago via coinmarketcap.com
MARKET CAP
$3,387,252
Updated 1 minute ago
CREATOR
"Baldur Friggjar Odinsson"

Technical

BLOCKCHAIN / LEDGER
Uses own
MONETARY POLICY
Maximum Supply (21,000,000 coins)
PRE-MINED / RESERVED
Yes (10,500,000 coins)
CONSENSUS MECHANISM
Proof of Work & Proof of Stake (Hybrid)
MINEABLE / STAKEABLE
Yes
AVERAGE CONFIRMATION TIME
1m 1s
CURRENT BLOCK REWARD
2.5 coins
HASHING ALGORITHM
Scrypt
DIFFICULTY ADJUSTMENT
Every 8 blocks (~8 minutes)

Categories

Payments

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