Most alt coins have a very short life, because they're not announced in advance, and the only users of it are the early adapters or the preminers. Elacoin is an open cryptocurrency based on the Scrypt hashing algorithm, with a few innovative modifications:



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 within 24 hours of this message. Elacoin is not premined,
with the genesis block timestamping "Traffic from Syria Disappears from Internet".

The genesis block for Elacoin will be released within 24 hours. Get your scrypt
miners ready (a miner is included in the client), and let's use the fairest cryptocurrency