Aurora AOA to Electroneum ETN Exchange

Crypto Pair Details: AOA to ETN

Aurora AOA

Auroracoin is a decentralised, peer-to-peer, and secure cryptocurrency released as an alternative to the Icelandic Króna to bypass governmental restrictions associated with the national fiat currency. It was launched with the aim of becoming the ‘official’ cryptocurrency of Iceland. AUR was a pioneer in the area of country-specific cryptocurrencies. AUR was launched on the 25th of January, 2014, by an anonymous developer who went by the pseudonym of Baldur Friggjar Óðinsson. It was originally based on Litecoin, using the Scrypt algorithm with a Proof of Work mechanism, but was later updated to use a multi-algorithm architecture in 2016, forked from DigiByte. Auroracoin uses the PoW consensus mechanism, which utilises device hashing power to solve a complex mathematical problem in order to authenticate a transaction proposed to be stored in the blockchain. The difficulty of solving the problem ensures that authenticating forged transactions is very difficult unless the attacker owns an impractically large chunk of the network’s total hashing power. AUR is one of the only cryptocurrencies to use a combination of five different hashing algorithms, namely Grøstl, Qubit, scrypt, SHA-256, and Skein. While initially very popular, Auroracoin has seen little to no activity for a while, with poor marketing, and frequent dev team changes. Reasons for little growth have been various, from slow adoption in Iceland, to developers leaving and joining the project midway. However, it is expected to not go lower than the recent low, and might see a rise as AUR plans to launch a more aggressive marketing campaign in Iceland to promote the coin among the masses. Unlike most other altcoins, Auroracoin has made extensive changes to the original codebase. It has introduced security measures such as Automatic checkpointing, and protecting against known flaws present in the BTC blockchain, such as 51% block replacement attacks.

Electroneum ETN

Electroneum has coined the phrase 'enablement currency' as it is going to enable a new 3 trillion dollar market (Price Waterhouse Coopers predicts this market to be as large as USD 3 trillion in their 2017 Global Fintech Report) by allowing over 350m smartphone users in the developing world to enter the digital market for the first time. With immediate benefits to the mobile operators in those regions, including meaningful transactional cost savings, there are operators who could take us to well over 100 million users and many more operators in negotiation. Our unique mobile miner puts a small amount of ETN into the hands of users every day, providing market liquidity and driving viral growth. With 2,341,445 million registered users, we have a faster viral growth than both Facebook and Twitter over the same time period. The Electroneum manage to raise 40 million dollars through ICO. Their Github release was November 1st. However, before the launch of the mobile app, they were hit by a distributed denial of service (DDoS) attack. The team had to shut down their servers and work over 26 hours straight to deal with the attack. Eventually, after some delay, ICO investors were distributed their coins and Electroneum continued working towards their goal of spreading ETN to the masses. Over 690 million ETN were transferring during the first 24 hours, requiring only 430 ETN in fees. Electroneum calls itself the first British based cryptocurrency. The team of 12, based in Kent, is led by Richard Ells, the co-founder of SiteWizard and Retortal.com. James Atkinson is the head of the Electroneum Development Team with over 10 years of experience in development. He’s leading the charge on the Electroneum App. Great respect is given to Dean Cole, the “member of the team with the least sleep… consuming giant quantities of caffeine.” He maintains and develops the servers required for mining and transacting in Electroneum. There are several gambling websites already accepting Bitcoin, but the problem is that it’s hard for most people to obtain it. The majority of online gambling takes place outside of America, where it’s especially hard to acquire Bitcoin. Most countries do not have access to Coinbase or Gemini and their local exchanges often have 7% fees or higher. Electroneum once again hopes to reduce friction and encouraging gambling sites to accept the currency. As mentioned previously, due to the ASIC resistant nature of the Electroneum mining algorithm, it’s still feasible to mine coins with just your CPU. You can complete a quick download and join a mining pool right away here. The average block reward is about 7000 ETN. Electroneum has also increased its palatability to the average consumer by capping the total number of coins at 21 billion, moving the decimal point two places to the right when compared to Bitcoin, which is capped at 21 million. Whereas a pizza in Bitcoin might cost 0.005 BTC, with Electroneum it would be a much more ‘real money’ figure. Richard Ells, founder of Electroneum and experienced tech entrepreneur, said: “I don’t know if you’ve ever tried buying any Bitcoin, but it’s really hard to do! I realized that what the world needs is a cryptocurrency that is genuinely easy to access and use. We’ve developed Electroneum with the ordinary mobile user in mind.”

SOURCE: COINGECKO

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