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Is this even intended to be a working cryptocurrency? Seems more likely to be a PoS protocol which more established coins will build upon.

There are plenty of people working on a move away from energy intensive PoW. PoS is an open problem in cryptography. Some coins claim it, but none have come under any real scrutiny. Yet to see a secure implementation.

They don't say much in the readme here, the whitepaper offers all the info, if they have actually solved the outstanding problems with PoS this is huge news.

Not holding my breath though.

Agreed, probably the best data we have so far on modern POS systems is NXT, and that isn't really a battle-tested project yet.

Peercoin qualifies, too.

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