Which part is hard to understand?  The chopping algo?  The reward and money supply curve?  

The chopping algorithm is proof of work using the Skein hash function by Bruce Schneier et al.  
This should be easy to understand in analogy with bitcoin uses proof of work using Sha256.

The reward curve might be trickier to understand.   The motivation for the logarithmic system is that the reward never drops to zero but every block is worth a little bit less than the previous one.  This way there is not a problem of eventually having no reward, and there is symmetry over time, rather than periods of equal rewards separated by "halvings".  Choppers are always motivated to chop NOW because the reward is always a lot higher now then it will be in the future.  This is all accomplished without "runaway" inflation or "indeterminate" inflation which occur with a fixed reward or a reward pegged to hashrate.    

My apologies, a whitepaper is in the works, e.t.a. one or two days.