Quote from: rpietila on August 03, 2014, 06:53:25 PM

Quote from: iCEBREAKER on August 03, 2014, 06:23:13 PM

Quote from: rpietila on August 03, 2014, 05:55:48 PM

How about a 10-line summary on why cryptonite is good and why I should buy it?

CHALLANGE EXCEPTED!

1) Hero Member BitFreak is project lead and provides active support in [ANN] thread
2) well planned R&D plus month-long testnet phases ensured fairly smooth launch
3) 100% open source available since testnet began
4) 0% premine

5) builds on proven standard BTC client with technology suggested by BTC core devs (gmaxwell)
6) mini-blockchain radically improves BTC scalability (Holy Grail of pruning)
7) mini-blockchain minimizes full node footprint to point of being able to run on smartphones (with more entropy/security than PoS or SPV)
Cool

innovative proof-of-work seems GPU and ASIC resistant
9) sane emission rate strikes excellent balance between rewarding/incentivizing early adopters and encouraging widespread distribution
10) reviewed positively by cypto-guru AnonyMint and immediately trading on bter (thanks to thorough testnet phase)

- How many devs? Who?
- When launched?
- How exactly is emission schedule?
- What algo?
- Quotes from AnonyMint posts?

I think there is only one real dev (name is catia : https://bitcointalk.org/index.php?action=profile;u=340555)

Launched July 28.

Emission is 1.84 Billion total coins with half life of 10 years.

The algo is something called M7 (http://cryptonite.info/wiki/index.php?title=M7_PoW); chain of 7 popular hash functions (multiplied together) then final SHA-256 of everything.
Not really a "CPU only" since its not memory hard but the multiplication step, especially with large bit size is suppose to be hard for GPU to handle.

Although it's a neat coin with innovative concept, I think its massively overpriced.

But this coin isn't a "competitor" to XMR, since as AnonyMint mentioned, XCN and XMR are fundamentally incompatible, thus they are fill non-interesting niches.