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appears nearly identical to ZIPC (and/or vice versa)
Really stupid code was left in that forces miners to attach 2 outputs(1 to the miner address, and 1 to NULL) to a generation transaction. However, this seems harmless other than adding a tiny bit of bloat and stupidity.
Despite the amount of stupid code and unintentional looking almost-exploits, it's probably pretty secure.
Problems:
* MODERATE - Stake modifier checkpoints are disabled. This seems quite dangerous and even if an exploit isn't possible, will probably cause many fork problems