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Elacoin (ELC) is a digital currency, based on Bitcoin and Litecoin. A scrypt proof of work coin with a 120 second block time and dynamic difficulty retargetting. The more network power directed at mining the more each block will reward, although this will halve roughly every nine months. The launch was preannounced to allow a fair start. Some criticism say inflation on this model will be uncontrollable.
Genesis Date: 2014-01-05