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 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

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

2019

January

  • Our third selected primary exchange, Cryptoia is hacked and shuts down continuing a string of bad luck when it comes to exchanges but the Aricoin network remains alive and running, with no active exchange the price drops and miners are unable to profit.

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 to bring Aricoin back to life.

August

  • AricoinPay development restarts. Technologies available, APIs 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 with many more features that people can acctually use.

September

  • Planning distribution of coins to beta users in preperation for Aricoin re-launch.
  • Milestone: 800,000 blocks mined.
  • CryptoID announced as a data partner for Aricoin to provide real-time price data/network analysis.

October

  • New Aricoin vision clear. AricoinPay development continues to link payments to social profiles and web addresses, giving us a payable audience size of 3.9 billion internet users. There is no requirement for the receiving party to register with us until they want to access the payment.

November

  • Added to CREX24 exchange.
  • AricoinPay development development starts

December

  • Aricoin network upgrades planned
  • AricoinPay nears phase 1 completion

2020

January

  • Network upgrade to v0.1.3.0 - Improvements to mining diff algorithm to help secure network against timewarp attacks.

February

July

  • AricoinConnect testing complete.

October

  • Aricoin's 2021 relaunch.