

Autoria, a new self-mining cryptocurrency is set to begin its ICO on July 14. Let's take a moment to discuss what this coin brings to the table.

Autoria is a decentralized cryptocurrency built on the Ethereum blockchain, meaning that it can leverage smart contracts for an incredible amount of flexibility and speed. It also utilizes automatic mining, a relatively new method which allows for a completely transparent and fair token distribution mode and does away with standard mining models.

As the name implies, automatic mining does away with the need for graphics cards and mining pools which utilize standard Proof of Work and Proof of Stake solutions. Instead, automatic mining registers unique Ethereum addresses, or "Wells", as repositories of the token. Fair distribution of coinage through these Wells is ensured using a mathematical formula that is a function of the Ethereum blockchain.

Autoria plans to introduce over the coming year, several applications which will utilize their token and help to stimulate this new economy.



You may find more information on Autoria's official site.