Review on Auroracoin by David Olayide
Auroracoin Faetures
Auroracoin (AUR) is a peer-to-peer cryptocurrency launched in February 2014 as an Icelandic alternative to bitcoin. Usually Iceland is seen as the optimal cryptocurrency region because of the fact that people are more used to electronic finance and the reduced use of physical cash. With the use of Auroracoin transactions can be made and payments carried out worldwide and without restrictions. Transactions are safe and private or anonymous as well.
Transactions are also sent to a public ledger where they can even be shared between users without any need for traditional banks. I noticed that most of the processes that Auroracoin goes through is done in such a way that any use or relation to the traditional banking system or institute, is avoided. The project is totally independent of banks and other centralized institutions.
To run away from the restrictions and cloggy atmosphere of centralization, the Auroracoin cryptocurrency has made the move to implement and facilitate various efficient technology and systems to set it apart. So yes it exists without external control, and operates on the Digibyte infrastructure although it was formerly operating on that of Litecoin.
I expect that the cryptocurrency will achieve it’s goal in the long run. However for now, it still has not achieved total adoption in Iceland due to some controversial issues and rejection. Also the price is highly volatile and I have noticed sharp drops in the price of AUR over time. Hopefully this will all improve to become better.
Pros
- Utilizes public ledger for transactions
- Safe, fast and secure global transactions
- The project negates and eliminates the use of traditional banks
- It operates on the Digibyte infrastructure
Cons
- AUR is only focused on the total adoption of the cryptocurrency by Iceland
