About Auroracoin
Auroracoin (AUR) is an open-source peer-to-peer cryptocurrency created for Iceland and first introduced in 2014.
An Icelandic Cryptocurrency Experiment
Auroracoin appeared during a period when Iceland was still living with capital controls introduced following the financial crisis of 2008.
Its pseudonymous creator, using the name Baldur Friggjar Óðinsson, proposed a decentralized digital currency that could circulate independently of Iceland's conventional banking system.
What distinguished Auroracoin from most early cryptocurrencies was not simply its technology, but its proposed method of distribution: a substantial part of the currency supply would be offered directly to the people of Iceland.
2014
Auroracoin was started in early 2014 using a codebase derived from Litecoin.
Fifty percent of the intended currency supply was reserved for distribution to Icelandic residents.
The Airdrop
The first stage of the nationwide distribution began on March 25, 2014.
At the outset, each eligible claimant could receive approximately 31.8 AUR.
Community Continuation
After the original creator withdrew, volunteers from Iceland and other countries organized to continue development and maintenance of Auroracoin.
A new community team publicly took responsibility for the project in 2015.
Multi-Algorithm Mining
In 2016, Auroracoin incorporated a multi-algorithm proof-of-work design based on the approach pioneered by DigiByte.
Today the network uses SHA256D, Scrypt, Groestl, Skein and Qubit.
Technical specifications →Open Source
Auroracoin Core is open-source software. Its source code, development history and releases are publicly available.
Auroracoin on GitHub →A Live Peer-to-Peer Network
Auroracoin continues to operate as an independent blockchain maintained by miners, full nodes and users communicating over its peer-to-peer network.
View active network nodes →What Happened to the Airdrop Coins?
The Auroracoin source project's historical documentation records that roughly half of the coins reserved for the 2014-2015 distribution were claimed.
The unclaimed portion was subsequently destroyed rather than retained by the project team. This reduced the number of coins originating from the original distribution reserve.
Why Five Mining Algorithms?
Auroracoin no longer relies on a single proof-of-work algorithm. Blocks are produced through five algorithms:
- SHA256D
- Scrypt
- Groestl
- Skein
- Qubit
The design allows different classes of mining equipment and hashing algorithms to participate in securing the same blockchain.
Detailed network parameters and current mining information are available on the Tech page.
Auroracoin Today
Auroracoin remains a volunteer-driven open-source project. The official project website describes its team as an international group of volunteers working on continued development and adoption in Iceland.
The Icelandic Blockchain Foundation also maintains an Auroracoin working group concerned with awareness, adoption and development of new uses for the currency.
Sources and Further Reading
Auroracoin.cc is an independent technical and network-resource site and should not be confused with the official Auroracoin project website.