On January 24, 2014, Auroracoin was launched as a peer-to-peer alternative to bitcoin and the Icelandic krna.
The decision was made to liquidate 80% of the M1 fund in order to launch the Icelandic Blockchain Foundation. In the year 2021, Auroracoin released another major release and continues to be volunteer-driven using open-source technology with the goal of offering an alternative to inflationary fiat currencies.
