Just found this gem, read the white paper and like it a lot!
Edit: I like the memory-hard approach with momentum but would not endorse the blockchain just yet as I briefly read something about a huge pre-mine which is one of the ko criteria for every alt-chain.
PTS is not a normal alt-chain, the value is based on deliverables promised by the company backing it - Invictus Innovations
And as far as I know they lost out on the initial difficulty problems, their miners didnt arrive until after the hardfork to correct it so they did not start mining until it was much harder to mine, if they mined at all.