But I would like to see a much more formal mathematical paper describing the proof, at least similar in detail and rigor as say the Algorand paper. This is such a short article, in plain english, that it's pretty hard to believe the claim of achieving consensus with 99% dishonest actors..
Edit: I just noticed that the final sentence does reference a white paper, which I will now read and comment upon after finishing.
Perhaps they have proofs, but they're not in the paper.
Now it's just impact factor jello :(
Moreover, it seemms that the initiator of a transaction chooses its own inspector, who then chooses the next. What prevents the united 99% conspiring malicious from selecting each other as inspectors, and underwriting each other?