Quote from: eizh on April 21, 2014, 08:30:38 PM

This defeats the very purpose of CryptoNight. 2 MB is suitable for CPU L3 cache but too much for ASICs, making distribution more even because of accessibility. 400 ms is not a big deal since transaction speed is limited by the block time.

True, we goes with different approach, but to the same goal.
The goal is not to make hash which is perfect for CPU.
The goal is to make "egalitarian proof of work", in other words: to provide almost equal voting rights to all participants.
Now traditionally approach is to have heavy hash-function, which is hard to implement in custom hardware. Cryptonote (CryptoNight) PoW hash(so called "slow_hash") goes on this way. It use some modern instructions sets coupled with memory consuming algorithm. Nowdays 2MB for ASIC seems to be almost impossible, but the world changing so fast now. And this finally could come to the same situation as Litecoin have now.
Our approach is to keep using modern instructions sets, but instead of making big scratchpad and then process whole pad for each hash call, we gonna use blockchain as one big source of random data, and will use pseudo-random parts of it for each hash.Two-phase hashing will protect from pre-calculation of all possible hashes(second phase hash randomly accessed data with salt). Blockchain after year of network's life will be consisited of about 1.5GB random data. In mining process all this data should be randomly accessible - and back to talking about ASICs - even if ASIC calculator for this hash will apear it will be almost impossible to grant paralel access of huge count of hardware calculators to to big scratchpad- due to DRAM specific.

Quote from: eizh on April 21, 2014, 08:30:38 PM

Quote from: crypto_zoidberg on April 20, 2014, 12:34:37 AM

Donation-based crowdfunding: the project will not have premine, instamine or other unfair launch. The project has open and transparent model of project financing: part of the emission (10%) is reserved for the development of the project, BUT the rate of emission of these coins will be controled by network participants (miners). Namely, miners will indicate the amount of coins to be given to developers in each block that they found. Maximum donation size for each block is determined by nominal donations formula, based on entire emission formula. This policy allows better communication between community and project development team. Finally if a miner is not happy - he can reduce donation to zero.
As a tribute to technology, we have fixed royalty percentage of donation, charged to the founders of Cryptonote.

I don't understand. You've given a number (10%) but also said it can be changed by miners. Is 10% the default that miners must deliberately change?

Good luck with this fork and thanks for supporting merge-mining. I hope to see more CN coins.

10% is maximum donation size in each block. Each miner decide how much to donate himself. It can be 5%, or 9%, or even 0%.