Yet-another-token that doesn't do anything to convince me it has features worth bothering with.
The paper on "Federated Byzantine Agreement Systems" is a unholy mash-up of Proof-of-Stake features with some nods towards Proof-of-Work. In short, it is unproven and if it even scales, I'd be surprised. It trusts nodes in some circumstances but not others, allows voting mechanisms that frankly seem more convoluted than anything else I've ever seen. Don't take my word for it, read all of this crap without going to sleep --
https://www.stellar.org/papers/stellar-consensus-protocol.pdfOh, and there are BILLIONS of these things, so yeah, there we go. I thought pre-mined was bad enough, but here we are with Zimbabwe dollars right from the get-go.
My problem with all of these Bitcoin "competitors" is they try so hard to be something "new", that they really don't end up fulfilling any basic needs. They end up being geek curiosities that are looking for a problem to solve, instead of the other way around.
