It is a fork of Bitcoin version 0.8.99, with addition of super random blocks.

Proof of work with SHA256 is used as in Bitcoin.

Specifications

Each normal block has 128 coins
45 seconds block time
Difficulty retargets every 20 blocks (approximately 15 mins)
Mining payout will be halved every 3 months (every 172800 blocks)
Once the payout reaches 1 coin/block, it will stay there to sustain the mining
Expected total mined coins will be 47,011,968 coins (not counting the one coin per block inflationary sustaining blocks)
4 confirmations for transaction
50 confirmations for minted blocks