Auroracoin price is $0.06340700
As of the latest data, the price of Auroracoin (AUR) stands at $ 0.06340700. It has increased by +7.92% in the last 24 hours, with a 24-hour trading volume of 489.8.
Auroracoin is a cryptocurrency specifically designed for the citizens of Iceland. It was launched in February 2014 as an alternative to the Icelandic krona, the country's national currency. Iceland's government heavily restricts the movement of the krona, and its value has significantly diminished against gold and the dollar since 1960.
In an interesting turn of events, Auroracoin was premined to 50% and distributed to the country's citizens free-of-charge via an airdrop that started on 25th March 2014. The intent was to provide all 330,000 citizens of Iceland with access to this cryptocurrency in a bid to accelerate its adoption.
The creator of Auroracoin is known only by the pseudonym, Baldur Friggjar Odinsson. Despite his relatively unknown identity, Odinsson's vision and implementation of Auroracoin have made it a point of interest in the cryptocurrency world.
Auroracoin works like many other cryptocurrencies. It is a clone of Litecoin, one of the leading cryptocurrencies in terms of market capitalization. Users can transact using Auroracoin on the blockchain, which provides a decentralized and secure method of transfer.
The difference lies in its initial distribution wherein each Icelandic citizen was gifted 31.8 Auroracoins during the airdrop. This unique strategy was aimed at promoting widespread use and acceptance of the cryptocurrency among Iceland's populace.
The uniqueness of Auroracoin lies in its creation for a specific nationality and its free-of-charge initial distribution. It's one of the rare instances where a cryptocurrency was premined to such an extent (50%) and shared freely with all the citizens of a country. The idea was to circulate the coins freely among the people to encourage its adoption and potentially offer a solution to the depreciating value of the Icelandic krona.
At present, the circulating supply of Auroracoin is at 19.8M, with a total supply of 21.0M.
Auroracoin is sold on several cryptocurrency exchanges, but it's crucial to make transactions only on the platforms listed on Auroracoin's official website to ensure authenticity and safety. The approved Bittrex, Cryptopia, Nova make purchasing Auroracoin a straightforward process. However, always make sure to conduct your own due diligence before making any purchases.
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