I have been given early preliminary access to the code for Midascoin. The following is my review:

NOTE: This coin contains radical features. No review by me is guaranteed to be 100% accurate and catch all possible problems.

Problems:

* MAJOR: This coin is centralized by design. This means, if you don't trust the coin authors, then you should not trust this coin. They have complete control over the blockchain, and can attack it at will if desired.

Notes:

Despite the complete control of the blockchain the founders have, this actually eliminates many common attacks, such as double spends and orphan blocks.