Actually the ledger addresses are derived from a modified merkle tree signature scheme (XMSS) in a hypertree construction using hash-based one-time signatures to sign transactions.

But you are correct that at this time the project is to be similar to BTC, featuring a capped upper supply limit, with very limited scripting and an emphasis upon security over scalability (the signatures / transactions are necessarily much bigger than any other crypto ledger thus far).

We are at quite an early stage so some design parameters may change but i am keen to allow bitcoin users to directly import their balances into the chain for a time after the main net goes live.

Thanks for the interest.