- Inspired by bitcoin we realized the huge potential of cryptocurrency with one major problem holding it back from mass-adoption, simply that people don't understand it!
- Discussions start about creating a cryptocurrency that is easy to use, a monetary system that can be used and understood by all without requiring a tech background. The benefits of bitcoin, without the complex barrier to entry and negative stigma around the bitcoin space.
- The vision is fully formed, build a cryptocurrency that has the ease of use of a system like PayPal but works running of the blockchain. Scrypt is selected as the coin's algorithm due to faster speed over bitcoin network.
- Team members start development and settle on the temporary name OlympicCoin to celebrate the upcoming winter Olympics in 2014, an event that unites nations - very fitting for a coin that will bring nations together and eliminate slow, expensive cross-country transaction fees.
- Launched on BitcoinTalk.org
- Block 0 is established.
- The first Aricoin transaction.
AricoinPay.com registered to be used as the PayPal like system to access the Aricoin currency.
Waiting list launched for AricoinPay.
First beta testers are invited to use AricoinPay, our waiting list goes viral with thousands of tweets and over 120,000 signups.
Added to Cryptsy after beating Monero in user votes.
- AricoinPay feature additions and improvements, including payment API's and recurring billing.
- AricoinPay hot wallet drained of 200,000 ARI due to bug allowing duplicate withdrawals. Feature paused and code audit in progress.
- New regulations around cryptocurrency prevent AricoinPay development. Hacks, scams and ICO's in the cryptocurrency space are more prevalent than ever. The team took a step back to rethink our approach in the space. Our team is driven by a passion for the potential cryptocurrency offers. It was important we didn't jump on a bandwagon or trend and stick to the basic principles - if it's not broken, don't try and fix it. We are here for the long run!
- Aricoin maintains a $1M USD+ marketcap on CoinMarketCap and a trade price of 0.00000143 BTC despite lack of development team updates.
- Our third primary exchange, Cryptoia is hacked and shuts down. We have had a string of bad luck when it comes to exchanges but the Aricoin network remains alive and running.
- Regulations relax as cryptocurrency is more widely understood and rules are defined by government bodies. Our team regroups to talk about what the future hold for Aricoin.
- Aricoin.org updated, wallets available for download and a plan for the next year set.
- AricoinPay development is restarting. Technologies available and open source libraries we can now tap into have improved significantly since we started Aricoin.
Our team feels we are at a stage where we can make AricoinPay much better than our original idea, including additional features - like tipping any website in the world. Most importantly, in a way an average person can easily understand it.
- Planning distribution of coins to 120,000 users who joined our beta waiting list in preperation for AricoinPay re-launch.
- Milestone: 800,000 blocks mined.