The principle behind T.OS is the establishment of a commercial payment system that utilizes digital currency. This will be the first such system in the history of the world. The solution comprises two coins. The TOS coin, or TOSC, is a regular cryptocurrency coin, which is not used for commerce, but can be exchanged on regular exchanges to any other digital currency. Its value may appreciate or depreciate and that is why it can't be used for commerce.
Auroracoin is a cryptocurrency for Iceland that is launched in February 2014. It is 50% premined and the coins will be distributed free-of-charge to all 330,000 citizens of Iceland via an airdrop starting from the midnight of 25th March 2014. Auroracoin is created as an alternative to the Icelandic krona. The movement of krona is severely restricted by the government and its value has dropped significantly against gold and the dollar since 1960. Each Icelandic national will receive 31.8 auroracoins during the airdrop. The creator of auroracoin goes by the pseudonym Baldur Friggjar Odinsson. Aurorcaoin is a clone of Litecoin.