Elastic block reward algorithm based on the difficulty and Moore's Law The more computational power you throw at it, the more each block will give. The reward is halved every nine months to preserve the coin's value.Fast Payments and Confirmations The block target is one every 2 minutes, which is the perfect amount. Fast enough without running into network IO limits, or bloating your hard drive.Open to everyone. No premining, no shenanigans, announced release Elacoin will be released after 24 hours of this message. Elacoin is not premined, with the genesis block timestamping "Traffic from Syria Disappears from Internet".