The PoW algorithm in the current version of the Mochimo Project is called "Trigg's Algorithm", which is a custom PoW algorithm that is designed to make ASIC/FPGU use infeasible.  We are having internal discussions about its efficacy in that regard.  It is performing as expected in our alpha mining test.  Detailed information about the mining algorithm will be available in the upcoming whitepaper release.  Please follow the twitter feed or join the slack channel to receive updates.  Thank you.