History of Aricoin

A timeline that shows Aricoin History from the idea all the way to present day.

2012

  • 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!

2013

February

  • 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.

June

  • 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.

November

  • 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.

2014

February

  • Launched on BitcoinTalk.org
  • Block 0 is established.
  • The first Aricoin transaction.

March

July

  • AricoinPay.com registered to be used as the PayPal like system to access the Aricoin currency.

August

  • Waiting list launched for AricoinPay.

September

  • First beta testers are invited to use AricoinPay, our waiting list goes viral with thousands of tweets and over 120,000 signups.

October

  • AricoinPay.com goes live with beta testers.

November

December

2015

January

February

  • Added to Cryptsy after beating Monero in user votes.

May

July

  • AricoinPay feature additions and improvements, including payment API's and recurring billing.

August

  • AricoinPay hot wallet drained of 200,000 ARI due to bug allowing duplicate withdrawals. Feature paused and code audit in progress.

September

November

2016-17

  • 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!

2018

January

  • Aricoin maintains a $1M USD+ marketcap on CoinMarketCap and a trade price of 0.00000143 BTC despite lack of development team updates.

2019

January

  • 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.

Feburary

May

  • 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.

July

  • Aricoin.org updated, wallets available for download and a plan for the next year set.

August

  • 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.

September

  • 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.