Thanks Luke for the info. But it is a bit of a concern when a coin is promoting governance.....when over 50% of coins are held in a single wallet....that's anonymous! Plus with the lions share of coin emission going to that address, it's not likely to change.
I have to ask, where is the value add for this coin? It reminds me of Chain Coin in some respects and could just be a pump and dump-er. Good luck.
Yes, that centralization is the main concern I have and why I pointed it out in my post. As I mentioned, it's not a whole lot different than what Steemit has done though. It's also not truly anonymous as those committed to the project apparently know who those people are and decided to trust them.
I'm not familiar with Chain Coin. Looks interesting. Surprising they have over 2,500 master nodes. That's a pretty serious pump and dump:
As to where the value is, I guess that eventually comes down to "feel" you get when interacting with the community and the tools they've built around their project. Having used the tipbot, the web wallet, the forum, and the website and having asked some really tough questions in the slack, it seems like some are really committed to this project. Will it last? Will it get pumped and dumped? Time will tell. It's good to be highly skeptical.