The team behind Auroracoin has reported recently achieving three significant milestones, which included the launch of a paid advertising campaign, a smooth hard-fork to a multi-algorithmic format, and the launch of its first cryptocurrency exchange in Iceland
On April 26th, Auroracoin launch its first paid advertising campaign in the history of Auroracoin. Posters were displayed at over one hundred bus stops across the Icelandic capital Reykjavik to create awareness of the Auroracoin brand. The advertising ran for a week and had an estimated 6 million drive-by.
May 1st saw a “very smooth hard-fork” of the Auroracoin core code to a multi-algorithmic format. Miners can now choose between five different algorithms to help secure the Auroracoin network. The decision to move from scrypt-only to multi-algo was done to strengthen security of the network and improve the consistency of block times. The code is based on that used by both Digibyte and Myriadcoin.
May 4th marked the launch of the first cryptocurrency exchange in Iceland. ISX.is provides Iceland residents with a way to deposit krona, and start buying and selling Auroracoin. This exchange has been in development for more than a year and marks a turning point for Auroracoin, according to the development team. Access to an ISK-AUR exchange is critical to gaining merchant adoption in Iceland. Now merchants can obtain a realistic exchange rate and convert AUR they receive from customers back into ISK if needed. A local exchange also opens up the possibility of point-of-sale equipment handling currency exchanges in real-time, removing exchange risk as a point of concern for business operators.
After the fallout from the Panama Papers led to the stepping down of Iceland’s prime minister, Auroracoin approximately doubled its market capitalization to over USD 3 million.