Nyancoin is a cryptocurrency based on Nyan Cat and was launched in January 2014 with the words 'It is my great pleasure to announce to you all that we have partnered with the creators of Nyancat to create the first officially licensed cryptocurrency in history!'.
The original announcement was on bitcointalk.org
Unfortunately, the original developers mysteriously disappeared a couple of months later, without any reason or explanation. It's rumoured that they turned into Doges. Or something.
The original Nyancoin website and other services ceased working shortly after that - however all was not lost, since enough people kept the software running and continued to mine the coin.
The current software is based on Litecoin, which itself is derived from Bitcoin.
Proof of work, Scrypt algorithm
337 000 000 Coins
337 coins per block
1 Minute Blocks
P2P port: 33701
RPC port: 33700 (default, can be changed in configuration options)
Subsidy halves in 500k blocks
Difficulty Retarget Time: 3 hours
First 49 blocks (1-49): 67400. (Intended to be the 1% premine, 50*67400 = 3370000, but actually only 49*67400)
337 from block 50, mined 6 January 2014.
168.5 from block 500000, mined 28 December 2014.
84.25 from block 1000000 mined 25 December 2015.
42.125 from block 1500000 mined 28 December 2016.
Originally, the specifications were to halve the coins every 337k blocks, this was changed after just a few weeks to 500k. Unfortunately, plenty of other sites still list the incorrect 337k.
When launched, some other group had also created a Nyancoin, however theirs had a 10% premine for maximum greed, didn't work properly (or at all), did not have the support of the Nyancat creator and generally was not welcomed by anyone. They then changed their coin name to CRD and shortly afterwards disappeared as well. Now let's never speak of them again.
All current, future and other projects can be found at www.reddit.com/r/nyancoins/.
You can help with this process. Many things are required, and joining the discussion on reddit is an excellent way to start.
Just downloading and running the Nyancoin software will help - the system relies on multiple nodes and more is always a good thing.
Nyan Cat is a cat made from a pop-tart flying through space with a rainbow behind it. Yes, really.
This is the original YouTube video which is 3m 37s in length, hence the extensive occurence of the number 337 in the coin specifications and many other places. (Youtube now displays the video length as 3m 36s probably due to rounding down to the nearest whole second).
There is some evidence to suggest a network split or fork of some kind in 2014, which would have resulted in transactions and mined Nyancoin apparently disappearing without trace. Details on reddit here and also here.
Due to how the network operates, any evidence of this would have been automatically deleted once clients agreed on the chain which is currently in use, leaving only the 'missing' transactions within old copies of various wallets.
Exactly how or when this happened is not known, and will probably never be known. The most likely explanation is due to very small numbers of nodes with little or no communication bewteen them - at the time, the DNS seed for the software was not working and starting a new instance of the client software would have to rely entirely on nodes being added manually.
Certain individuals proclaimed in April 2014 that Nyancoin would be switching from Scrypt to X11. This did not happen.
Others decided in early 2015 that it would be a spendid idea to change to a proof-of-stake model instead of the current proof-of-work one. This did not happen either.
Nyancoin is proof-of-work / POW and uses Scrypt, just like it has since it started in January 2014.
This website (www.nyancoin.info) and the domain name used by the Nyancoin software to locate other nodes (nyanseed.com) are maintained by jwflame / Flameport Enterprises as a service to the Nyancoin community.
Updated 16 November 2017.