Auroracoin

Auroracoin is a cryptocurrency dedicated to the people of Iceland. It started on February 21st 2014 and was officially announced on March 3rd 2014 here on Bitcointalk by the original founder that used a pseudonym Baldur Friggjar Odinsson.

His vision was to break the shackles from the currency controls that were imposed upon this nation after it was hit badly during the 2008 financial crisis. To be able to do this he decided to pre-mine 50% of the entire coins supply and reserve that for an equal and fair distribution among the Icelandic people.

The first "airdrop" date was set at March 25th 2014 and enabled all Icelanders to claim exactly 31.8 Auroracoins. The execution of this plan was very cleverly orchestrated by using a combination of Facebook accounts (over 75% of the Icelanders are active on Facebook) and the unique Icelandic identification system called Kennitala. The first airdrop was a massive success as over 35,000 unique claims were made, that's over 10% of the entire population who claimed over 1.1 million coins!

On July 25th 2014, straight after the initial airdrop, the second phase began. This time the amount that could be claimed by Icelanders was ten-folded to 318 Auroracoins. This phase was very successful as well reaching another 5,000 Icelanders claiming almost 1.6 million coins.

Then the last phase started on November 25th 2014, enabling Icelanders again to claim coins, only this time up to 636 Auroracoins. Again a massive 1.6 million coins were claimed totaling the entire amount of airdropped coins to almost 4.5 million, a little less then 50% of the total pre-mined coins.

After the final phase of the airdrop ended Balduro kept his word and reserved 1 million coins for this new foundation that has dedicated itself to further develop this project and verifiably destroyed the remainder of the pre-mined coins.

Today, May 1st 2015 Auroracoin starts with a new chapter that not only will change the history of Iceland, but might just as well set a standard for the entire world by proving an entire nation can break free from the shackles of Fiat currency.

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Technical-Specifications

RPC: 12341

NET: 12340

Algo: SCRYPT (POW)

Blocktime: 5 min

Blockreward: 12,5 AUR

Maximum coins = 21.000.000

Premine burned = 5,344,628

Premine distributed = 5.155.372

Premine remaining: 1.000.001 (Under control of Auroracoin Foundation)

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