diff --git a/README.md b/README.md
index d32516666..775882b79 100644
--- a/README.md
+++ b/README.md
@@ -4,8 +4,7 @@
 ![Dogecoin](http://static.tumblr.com/ppdj5y9/Ae9mxmxtp/300coin.png)
 
 ## What is Dogecoin? - Such coin
-Dogecoin is a cryptocurrency like Bitcoin, although it uses the Litecoin
-Scrypt proof of work algorithm.
+Dogecoin is a cryptocurrency like Bitcoin, although it uses a different algorithm as its proof of work (POW). Taking its cue from Lightcoin, it employs a simplified version of scrypt; an algorithm specifically designed to make it difficult and costly to perform large-scale attacks using custom hardware by requiring large amounts of memory.
 
 http://dogecoin.com/
 
@@ -14,36 +13,50 @@ Dogecoin is released under the terms of the MIT license. See [COPYING](COPYING)
 for more information or see http://opensource.org/licenses/MIT.
 
 ## Development and contributions - omg developers
-Developers work in their own trees, then submit pull requests when they think
-their feature or bug fix is ready.
+Development is ongoing and the development team as well as other volunteers can freely work in their own trees and submit pull requests when features or bug fixes are ready.
 
 ## Very Much Frequently Asked Questions
 
-### How much doge can exist?
+### How much doge can exist? - So many puppies!
 Early 2015 (approximately a year and a half after release) there will be approximately 100,000,000,000 coins.
 Each subsequent block will grant 10,000 coins to encourage miners to continue to secure the network and make up for lost wallets on hard drives/phones/lost encryption passwords/etc.
-For the block schedule, see http://en.wikipedia.org/wiki/Dogecoin#Block_schedule
 
-### How get doge?
-Scrypt Proof of Work
+### How to get doge? - To the moon!
+Dogecoin uses a simplified variant of the scrypt key derivation function as its proof of work with a target time of one minute per block and difficulty readjustment after every block. The block rewards are fixed and halve every 100,000 blocks. Starting with the 600,000th block, a permanent reward of 10,000 Dogecoin per block will be paid. 
 
-1 Minute Block Targets, 4 Hour Diff Readjustments
-
-Special reward system: Random block rewards before block 145,000. Static block reward of 250,00 afterwards.
+Originally, a different payout scheme was envisioned with block rewards being determined by taking the maximum reward as per the block schedule and applying the result of a Mersenne Twister pseudo-random number generator to arrive at a number between 0 and the maximum reward. This was changed, starting with block 145,000, to prevent large pools from gaming the system and mining only high reward blocks. At the same time, the difficulty retargeting was also changed from four hours to once per block (every minute), implementing an algorithm courtesy of the DigiByte Coin development team, to lessen the impact of sudden increases and decreases of network hashing rate.
 
+The current block reward schedule:
 1-100,000: 0-1,000,000 Dogecoin Reward
 
-100,001 — 200,000: 0-500,000 Dogecoin Reward
+100,001 - 145,000: 0-500,000 Dogecoin
 
-200,001 — 300,000: 0-250,000 Dogecoin Reward
+145,001 - 200,000: 250,000 Dogecoin
 
-300,001 — 400,000: 0-125,000 Dogecoin Reward
+200,001 - 300,000: 125,000 Dogecoin
 
-400,001 — 500,000: 0-62,500 Dogecoin Reward
+300,001 - 400,000: 62,500 Dogecoin
 
-500,001 - 600,000: 0-31,250 Dogecoin Reward
+400,001 - 500,000: 31,250 Dogecoin
 
-600,000+ — 10,000 Reward (flat)
+500,001 - 600,000: 15,625 Dogecoin
+
+600,000+ - 10,000 Reward (flat)
+
+The original block reward schedule with one minute block targets and four hour difficulty readjustment:
+1-100,000: 0-1,000,000 Dogecoin Reward
+
+100,001 — 200,000: 0-500,000 Dogecoin
+
+200,001 — 300,000: 0-250,000 Dogecoin
+
+300,001 — 400,000: 0-125,000 Dogecoin
+
+400,001 — 500,000: 0-62,500 Dogecoin
+
+500,001 - 600,000: 0-31,250 Dogecoin
+
+600,000+ — 10,000 Dogecoin
 
 ### Wow plz make dogecoind