Auroracoin Review: Premined Coin

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.

Interesting things about Auroracoin:
1. It was intended as a national cryptocurrency of Iceland and distributed to the citizens of the country to use as an alternative payment option that could circumvent Iceland’s foreign exchange restrictions introduced after the 2008 financial crisis.

2. In March 2016, Auroracoin was re-based on DigiByte, replacing the original scrypt hashing algorithm with a multi-algo combination of Grøstl, Qubit, scrypt, SHA-256 and Skein.

3. Certain other parameters were also updated, including the block confirmation time which was decreased to 61 seconds.

Growth of Auroracoin over time:
Auroracoin (AUR) price, charts, market cap, and other metrics | CryptoCurrency Market Capitalizations
chart (4).png-Auroracoin Review: Premined Coin
Final Thoughts:

This crypto is very much promising, I advice you guys to get some.

Click here for more info: Auroracoin | Fjárhagslegt frelsi


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