Review on Auroracoin by Victor Nnamah
Auroracoin: a coin from Iceland.
Auroracoin is a blockchain based cryptocurrency, it uses a P2P network. Auroracoin uses proof-of-work and also proof-of-stake for operations, it is a minable coin. It uses a mechanism for cross border transfers in local economy.
Auroracoin can be exchanged YoBit, FreiExchange and ISX for other cryptocurrencies, it is independent of banking system and other centralized authorities and also has it's own independent value. Auroracoin can be sent anywhere as payment in a secure way. Transactions are kept anonymous and users privacy is privacy is protected with randomly generated addresses.
Auroracoin can be purchased with fiat currency but mainly Iceland currency, also, its coin can be generated through mining process using ASIC hardware. I was able to get Auroracoin via FreiExchange by simply exchanging my Bitcoin. I stored it in coinomi mobile wallet, since it is recommended.
However, Auroracoin platform is not completely anonymous, it is still a new coin among cryptocurrencies but still struggles to become more reliable. I personally find its services interesting.
Pros
- There is no central authority.
- Payments are very fast and can be sent anywhere around the globe.
- It is minable.
Cons
- It is not completely anonymous.
- It is still a new coin.
