Today marks a new chapter in the crytpocurrency world with the launch of the Auroracoin Airdrop, which if successful could have a big impact on the way future cryptocurrencies are created.
The reaction in the wider cryptocurrency market has been relatively positive, with bitcoin jumping 4.7% in value in the last 24 hours while litecoin (on which auroracoin is based) has jumped 8.3%.
Other country-based cryptos experienced very different fortunes in the last 24 hours. Aphroditecoin, the Cyrus-based cryptocurrency, which made a huge splash when it launched at the weekend, has dropped 63% in value the last day, while spaincoin on the other hand has risen 111% in value.
After weeks of build up, the world’s first airdrop of a cryptocurrency is live. At the time of publication it is nine hours since the Auroracoin Airdrop went live and according to the website, 1,113 citizens of Iceland have claimed their 31.8 auroracoins.
Auroracoin Airdrop: Iceland Prepares for Financial Revolution
This is just 0.34% of the total available (10.5 million auroracoins) and it is VERY early days. The first stage of the Airdrop will last for four months to allow people to claim their auroracoin, and only then will we know if it’s been a success or not.
The big unknown ahead of the launch of the Airdrop was what effect it would have on the price of auroracoin. As of 9am (GMT) on 25 March, the price has been given a slight bump of around 10%, with one auroracoin valued at £6.95 meaning each person’s haul of auroracoins is worth around £220.
If you are an Icelandic citizen and want to claim your auroracoin, just visit the official website and enter your official ID number.
Kraken, a well-established cryptocurrency exchange which trades in bitcoin, litecoin, namecoin, dogecoin and ripple along with US dollars and euros, has carried out an independent audit to reassure customers following the recent high profile collapse of the MtGox exchange.
Dogecoin Gets Euro Support on Kraken Exchange
The audit process was designed to allow the auditor – Ripple Labs CTO Stefan Thomas – to verify that the total amount of bitcoins held by Kraken matches the amount required to cover an anonymised set of customer balances.
The audit results demonstrate that Kraken holds “100% of all bitcoins in its reserve”. Kraken says it wants to carry out regular audits with different auditors each time which Thomas says “serves to increase the confidence in the audit process and the validity of the result.”
Here’s hoping more exchanges follow Kraken’s lead.