NovaCoin (NVC) was released in Russia on February 11, 2013. It is a decentralized peer-to-peer network currency with a mixed scryptProof-of-Work+Proof-of-Stake algorithm, mined by CPU and GPU, and the block time is: 2.5 minutes, up to 100 coins per block. Provide 5% annual interest.

NovaCoin algorithm model

The NovaCoin algorithm model has two types of blocks, proof of work and proof of stake, each of which contributes the existing amount of coins.
The proof of work block reward can be calculated using the formula nBlockReward = 100 /(nMaxTarget/nCurrentTarget)^(1/6). This means that the reward reduces the difficulty every 64 times. Proof of Stake block reward based on CoinAge parameters and proof of stake difficulty. Interest can be calculated using the formula nRewardCoinYear = 1 /(nMaxPoSTarget/nCurrentPoSTarget)^(1/6). This means that every year's interest rate starts at 100%, reducing the difficulty by half for every 64 times increase.

Related links:

http://novacoin.org/faq.html