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Novacoin is a decentralized electronic cash system based on an open-source, peer-to-peer internet protocol. It works without a central server or trusted parties. Users hold the ECDSA privatekeys to their own money and transact directly with each other, with the help of the network to check for double-spending. They are also able to participate in the network protection using own money or computing power.
A hybrid Proof-of-Work & Proof-of-Stake scheme is used to provide a protection against double-spend.
The main project repository:
https://github.com/novacoin-project/novacoin