"Created procedurally based on coordinates. Coordinates will always create the same world, so you can share with friends. Some coordinates will not actually have a planet like in real life. So there should be a lot of empty space between planets.
Navigation between worlds will take place via a star map (non-graphical). You will then take a Dropship to the planet, and return to the station later via the same dropship.
Worlds that are not infinite in size will loop around, so if you travel far enough you will end up back at your start area, as if the planet is a real sphere.
Worlds could possibly become completely destroyable in time, but as of now plans are in place to make it possible to call orbital strikes upon the surface of a planet.
Claimed Homeworlds can be renamed. And non-homeworld planets will most likely have 'bookmarks' you can set. Multiple homeworlds can be designated as homeworlds, but the cost is so high in resources that a single player may have trouble doing so.
Some worlds will have pre-generated story elements, which have been hand crafted with gameplay in mind.
Planet based random events will occur. Eventually, post release there will be the possibility of universe wide events.
It has been stated by Tiy that it will not only be planets you will visit.
Planets day and night cycles will differ based on the planet, some may even be eternally dark or eternally light.
Acid rain has been mentioned, which may actually eat away at player constructions during certain quests to protect an injured npc.
Homeworlds can be set to not allow explosions to prevent griefing. Regular planets you won't stay on long enough to care about.
There will be mini-biomes inside the larger ones. Such as overgrown pools or mushroom/rose fields. This will add even more diversity to planets.
Temples and Pyramids will be generated on some worlds.
Planets will have varying levels of gravity.
Round planets have a super-heated core at the centre that could melt the player. But not all planets will have molten at their core, some may have other impossible barriers.
Below the surface, ores will be part of the background as well. - Tiy
A planet may be generated as infinite in size, however, only left or right, as planet depth has been capped for obvious reasons.
Random events such as meteor showers may destroy "throw-away" planets, but not homeworlds of course.
There are multiple planets per star.
Mountains, Canyons, Hills, Flats, Chasms, etc are all generated on planets offering a wide variety of terrain possiblities, as well as random villages, dungeons and tunnel systems.
Owi"
OMFG 