Altcoins

Iceland’s Auroracoin Moves from Litecoin to Multi-Algo DigiByte Codebase

The development team behind Icelandic cryptocurrency, Auroracoin, released today an updated codebase designed to enhance the security and reliability of the Auroracoin blockchain.

The new release moves the project from a  Litecoin codebase (version 0.8.7.5 ) to a DigiByte codebase (version 4.0.3).  Discussions at Auraráð, the Icelandic Auroracoin Foundation, about moving to a multi-algorthmic codebase narrowed down to a decision between Myriadcoin or DigiByte as the foundational code.  After some great discussions with the founder of DigiByte, Jared Tate,  Auraráð selection that codebase.  Additionally, DigiByte released their version 4 DigiSpeed code during early development,

The new codebase uses five algorithms, instead of the previous Scrypt-only algorithm, to create a network that is ASIC-resistant, suitable for CPU and GPU miners, and improves decentralization. Moreover, a multi-algorithmic implementation mitigates multipool activity, thus reducing the chance of ‘long blocks’.

Jess Foddrill, a developer with the team, explained:

“The focus of this update is to create a secure and reliable blockchain that can be the backbone of an eventually preferential monetary system in Iceland.’’

Pétur Árnason, Chairman of Auraráð, added:

“The team can now turn its focus to educate the Icelandic public about Auroracoin and its benefits to the society along with building the tools that simplify usage for merchants and consumers alike.”

The Auroracoin team plans to soon release wallets for Windows, OSX and Linux operating systems as well as a web wallet suitable for iPhone, Android and Blackberry handheld and tablet devices.

After debuting in March 2014, Auroracoin lost most of its initial value and did not recover, even after three different “airdrops” of the currency throughout 2014, where the foundation freely offered 31.8, 318 and 636 Auroracoins to any Icelanders.

auroracoin-chart1
Courtesy of CoinMarketCap.com

 

Journalist, policy analyst, and evangelist of new, disruptive technologies including big data analytics, Internet of Things, and cryptocurrencies. Internet industry veteran with regional c-suite experience, and journalist credentials earned at internet.com, Internet World magazine, and Mecklermedia Corporation.
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