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Greenland is located in North American between the Arctic and Atlantic Oceans, and is the largest island in the world. Early Paleo-Eskimo Inuits inhabited this island, which was later settled by Icelanders and Norwegians. In the early 17th century, Denmark asserted sovereignty and Greenland was then considered a Danish colony from 1814-1953. Greenland was officially founded as a country on May 1, 1979. 80% of Greenland is covered with an ice sheet making it the least densely populated territory in the world.