Auroracoin (AUR) is a peer-to-peer cryptocurrency launched on January 24, 2014 as an Icelandic alternative to bitcoin and the Icelandic Krona. The unknown creator(s) used the pseudonym Baldur Friggjar Óðinsson and awarded (awarded) half of the total 21 million coins to the 330,000 Icelandic citizens living in Iceland. This one-of-a-kind national ID card airdrop began in Phase I on March 25, 2014 with 31.8 auroracoins per applicant. Phases II/III ended in 2015 with 318/636 auroracoins respectively per applicant. Of these 10.5 million pre-mined coins, about 40% of the coins were claimed, 10% of the coins were donated to the Auroracoin Foundation (M1 fund), and 50% of the coins awarded were verifiably destroyed. (AURburnAURburnAURburnAURburn7eS4Rf) A hard fork occurred in 2016 for a multi-algorithm (PoW) code change. There was also a change in the block time from 10 minutes to 61 seconds, a corresponding change in the block reward, resulting in a change in the "halving schedule" and an increase in the maximum coins to 23.3 million. (Adjusted to 17.97M after burning 5.345M) In 2018 it was decided to liquidate 80% of the M1 fund to launch the Icelandic Blockchain Foundation (Rafmyntaráð) by expanding Auroracoin's blockchain advocacy efforts within Iceland. In 2021, Auroracoin released another major release that is significant and continues to be powered by volunteers using open source technology with the aim of offering an alternative to inflationary fiat currencies.