Hello!

This is a formal announce of yacoin: yet another coin based on novacoin sources. Hash algo is changed from scrypt(1024, 1, 1) to scrypt(N, 1, 1). Parameter N increases over time making HW or GPU implementation more and more impractical (but yet possible).

Using scrypt(N, 1, 1) means that only solo cpu mining will work until someone will fork mining pool software or implement GPU miner. All existing miners (cpuminer, cgminer, reaper etc) aren't compatible. Yacoin Qt-wallet or daemon are to be used for mining.

The core idea is that we have to use and to try different hash algos to make cryptofinances more secure and stable.

Note:
Incrementing N will lead to immediate hashing speed decrease. Difficulty will reflect these speed changes (i.e. difficulty will decrease after N++) with lags. As soon as block reward depends on difficulty the reward will increase also and more miners will be motivated to join after N++.  It's not easy to predict now but we can be sure that some waves will happen on each N++ event.

Release and all details (ports, links to sources and binaries etc) will be available here in 24 hours.
No premine is planned: the blockchain I use now for testing will be deleted before release.

Technical details:

Sources: https://github.com/pocopoco/yacoin
Block each 60 seconds.
Block reward: 100 coins and depends on difficulty.
Hash: scrypt(N, 1, 1) + chacha instaed of salsa and keccak512 instead of sha256 (scrypt-jane implementation).
N depends on block.nTime and increases. Starting value is 32 (4 Kbs).
Port: 7688

We are starting 1.5 days later. Testing blockchain is thrown away and nothing is premined just now. This is right time to join.

Windows build: https://mega.co.nz/#!5wgDnKyZ!QLfWTXNRMRTwmb60rfpuFgzH48BCl4fpwb8paeAaqRs (updated with new seed node and hard checkpoint at height 15000).

Linux: please, build it yourself. This fast and much more secure than prebuild bineries. Build guide is completely the same as for Novacoin and other coins. New library (scrypt-jane) is embedded into source tree (you don't need to install it).

In order to start mining run your daemon (in linux) or your wallet with following parameters:
-gen (to turn on mining)
-genproclimit=1 (to limit number of cores used. Without this parameter it will use all CPUs/cores.)

-addnode=82.211.30.212 (this is one of my VPS that will help us to connect nodes in small network for first several weeks)
Adding seed nodes to command line isn't necessary because both IPs (I've installed second machine today - 81.17.30.114) are now hard-coded: daemon and wallet can start and connect to other peers without "-addnode". You should add seed nodes explicitly only in case of connectivity problems. Update code from git (linux) or download new binary (windows).

Finally command lines looks like:
Windows: yacoin-qt -gen -genproclimit=1
Linux: yacoin-qt -gen -genproclimit=1

Update:
In case of connectivity problems try to add seed nodes to command line: -addnode=82.211.30.212 or -addnode=81.17.30.114 . This will force daemon (and wallet) not only to ask these nodes about peer list but also try to maintain connections to them. One of these two IPs would be enougth.