Thanks for the answers

BurtW:
If by "public ledger system" you mean a block chain that everyone agrees on, then yes. A block chain like with bitcoin, just a different standard for what is stored in those blocks.

gmaxwell
I have not been actively following this board for a while. what is anti-dos? (anti denial of service I guess)?
I don't see the need for fees, if the mining bonus stays for ever (say at 0.5% inflation long term).
I agree that it couldn't scale if transactions had to stay secret for ever, but you could make public transactions that are older than say 30 days, to avoid this problem. I understand that later transactions in the Chain can reveal previous ones, but I don't see this as "brittle security," since it is still an improvement from BitCoin where everything is always visible. Also its not a problem as long as you don't spend your coin or send the rest of your coin to a new place every time you spend. But I will have a look at your links and reply thoroughly later!