Review on Auroracoin by francis fernandez
Auroracoin: boosting crypto in Iceland
In the search for the global adoption of digital money as a universal currency; many crypto projects have emerged. Aurora is one of them.
Auroracoin is a digital asset that arises with the purpose of evading government censorship that fell on the official currency of the Icelandic region.
What is the purpose of the creation of this cryptocurrency?
Aurora's mission, known by the acronym AUR, is to develop a freer monetary system, parallel to local FIAT money.
What can we highlight from AURORA?
• It is a protocol that works without external control
• It is a fluid communication network due to its independence from a central server
• It is a secure platform due to the use of the Proof of Stake consensus protocol, which coordinates the activities of five different hashes; which reduces the risk of fraudulent operations. This mechanism is exclusive to AURORA.
• It operates on the DigiByte infrastructure, which generates trust among its users as it is backed by a recognized chain in the market.
What limitations has the growth of the platform suffered?
AURORA, despite having a valuable infrastructure, has not achieved the optimal development of its platform or the general adoption of its currency in the Icelandic town due to the inconsistency of its developers, which has led to delays in the objectives initially set by its founders.
Despite this; the project continues to bet on its growth; implementing new security mechanisms to its network and promoting its platform through advertising campaigns, with a view to achieving total mass use of the currency in the Icelandic region.
Its currency has suffered from market fluctuations since its launch; however, it remains present in several markets.
Pros
- Promotes the use of digital money
- Works without intermediaries
- It is a direct communication network; not subject to a central server
Cons
- It is for exclusive use in Iceland
