ForexMinute.com – Gone are the times when people used to consider the only digital currency. Instead, the fast paced sector, within a span of just five years, has produced over 193 alternatives to Bitcoin – with some of them even reaching to its stature – Litecoin, Dogecoin, and some others among them.
The alternative currency sector was specially recognized in a special event in San Francisco. Dubbed as CoinSummit, the event brought together several innovators at one dais, including the Litecoin creator Charlie Lee, Dogecoin founder Jackson Palmer and Altcoin Exchange Cryptsy CEO Paul Vernon. They orchestrated a valuable conversation about the boundless future of cryptocurrency sector, if they all work together in harmony instead of competing with each other.
While the focus of the event was continuously was more magnetized towards Litecoin and Dogecoin, the emerging altcoin Auroracoin got a special mention for its innovative nature and unique marketing approach. While Litecoin creator Charles Lee acknowledged the good intentions of the Icelandic coin, the panel’s mediator Michael Terpin commented the extensive fall of the coin since its much hyped “airdrop”.
Cryptsy CEO Paul Vernon added his view to the discussion and said that Icelanders do not have enough knowledge about how to use Auroracoin, because of which they are simply shortening it in exchange of real money. “It’s just market driven. The fact that there is a drop is because people are getting rid of the coins,” said he. “I’m not sure the people who have received theses coins got any education other than ‘okay, here’s your coins’.”
The biggies have nearly got it right if one sees the current market cap of Auroracoin. On March 23rd, Auroracoin’s market cap reached to its peal of around $69m, which has been reduced to $55m after the airdrop started on March 25th.
We will keep you reported on the current status of Auroracoin. Keep watching this space.
To contact the reporter of the story: Yashu Gola at email@example.com