It's not. It's identical with a slightly modified POW and some of the values tweaked. The incompetent developer has already accidentally broken the currency once, so it doesn't really bode well for it in the future.
Eh? The chain broke because the author made a hard forking change with 10 days notice. You can't do that. Bitcoin staged theirs over months and still managed to leave some people behind. It's not FUD if it's true.
It is different from BTC - it's a fork of Litecoin, meaning it uses scrypt rather than SHA-256 and cannot be effectively mined using BTC-oriented ASICs.
