Interesting aproach, thanks for the explanation.

As for the Discord part, I will join for sure. Just put a link on the OP or in here.

Thanks!

Maybe I don't understand the logic here, if the ledger is public, and I can check each of my transaction, what stops me to add those transactions in a database and se the hole balance. This is how all block explorers work.

Or I can only see my transactions, not someone else tx? I am kind of confused here.

Hi, interesting aproach but I have few questions. For the start: how can I check a tx, if there is no public ledger? For example, how can an exchange prove they sent the money I withdrawn if the coins don't hit my wallet, and vice versa?

Anyways, I will look further into the project to learn more.

Good luck!

Governments across the world have been cracking down on crypto, especially when it comes to centralized projects. Chain-of-ownership is a new concept, but how will regulators perceive it? Is there a legal framework in place to ensure compliance? If this aims to be more secure than blockchain, does that mean it might be more acceptable to regulators? Some projects have been forced to shut down due to legal complications—I hope CLC has considered this.

One major advantage of blockchain has always been its ability to prevent double-spending and fraud through decentralization. Since CLC isn’t using blockchain, how does it prevent fraudulent transactions? What safeguards exist to ensure people don’t manipulate the ledger? In traditional financial systems, fraud detection relies on centralized oversight—does CLC take a similar approach or is there an innovative mechanism at play?

Thank you for the update and extremely valuable information.  When the difficulty jumped to 1.7T, I figured something nefarious was happening.

After spending some time observing and interacting with the team and community around this project, I want to share a few honest observations and concerns. These aren't meant as personal attacks, but as a technical and structural critique of how the system currently operates.

1. Lack of Transparency
The recent 6x manual increase in mining difficulty happened without any prior notice or community discussion. In any serious crypto project, even hybrid ones, core parameter changes like this should be predictable, rule-based, and transparent. Here, they were not. Transparency is a key element of blockchain technology and cryptocurrency ecosystems. Without transparency, the system opens the door to potential manipulation, especially when key parameters like mining difficulty can be adjusted on a whim by the development team.

2. Central Control Without Accountability
The project markets itself as a hybrid between centralized and decentralized models, but there's no clear boundary or structure defining who controls what, and under what circumstances. As it stands, it appears the team has full authority to intervene in core mechanisms like mining, which effectively negates the “trustless” aspect. According to their whitepaper, the Centralized Ledger system is hosted on a dedicated server controlled by the development team, which manages all transactions. This undermines decentralization, as true crypto systems are supposed to be decentralized, with no single entity having complete control over the ledger. This project seems to be centralized in nature, despite the marketing that it is decentralized.

3. Vague Technical Claims
Buzzwords like “Chain-of-Ownership” and “unbreakable cryptography” are thrown around, but without any technical documentation, whitepaper, or open-source code to back them up. That raises red flags about whether this is actually a novel protocol or just a closed system with marketing polish. The "Chain of Ownership" concept is presented as revolutionary, but it lacks proper technical documentation or open access to the codebase. Without these, it's difficult to verify the security, scalability, or functionality of the system. Claims like "unbreakable cryptography" are meaningless unless they're backed by well-documented and open implementations that can be reviewed by the community.

4. Immature Community Dynamics
Attempts to raise valid technical concerns have been met with sarcasm, mockery ("IQ 55" comments), and emotional responses instead of constructive dialogue. That kind of culture makes it difficult to take the project seriously and is harmful to the growth of any real crypto ecosystem. A professional and respectful approach to addressing concerns is critical in any technical community, and dismissing valid concerns with derogatory comments is a sign of an immature, closed-off community that doesn't encourage constructive feedback.

5. Poor Design Decisions
If mining was allowed to progress unchecked until the team suddenly decided it was “too fast,” and then manually intervened, that suggests a lack of proper tokenomics and long-term planning. Serious protocols design this before launch, not on the fly. According to the whitepaper, PoW is used for minting the coins, but there seems to be a lack of foresight into how the coin's distribution would evolve over time. The project’s intervention to manually adjust mining difficulty shows poor tokenomics and a failure to anticipate how the system would function in practice. Well-designed projects calculate these parameters upfront and build robust mechanisms for automatic adjustment, not through ad-hoc manual interventions.

6. Concerns About Centralized Wallets and Security
In addition to the issues mentioned, the wallets are online-based, which implies they may be centralized and controlled by the project team. This poses serious security risks because online wallets are vulnerable to hacking or data breaches. A truly decentralized system should allow users to manage their own wallets securely, without relying on centralized services that could be compromised. Furthermore, the lack of any public repository for the wallet code raises further concerns about trust and security.

💬 Conclusion
This project appears to rely more on centralized control, vague promises, and defensive community behavior than on the principles that actually make crypto networks secure, transparent, and decentralized. The claims about decentralization in the whitepaper do not align with the actual structure of the system, and the lack of transparency, central control over key parameters, and absence of open-source code are serious red flags. Unless there's a major shift toward openness, community-driven governance, and true decentralization, it's difficult to see this as anything more than an experimental platform under tight centralized control, likely to face long-term credibility issues.


Here are the key red flags in brief:

1. Lack of Transparency – Key changes like the 6x increase in mining difficulty were made without prior notice or community discussion.

2. Centralized Control Without Accountability – The project claims to be hybrid, but the team has full control over important parameters like mining difficulty, undermining the "trustless" aspect.

3. Vague Technical Claims – Terms like "Chain-of-Ownership" and "unbreakable cryptography" are used without technical documentation or open-source code to verify them.

4. Immature Community Dynamics – Valid concerns are dismissed with sarcasm or insults rather than constructive feedback.

5. Poor Design Decisions – The team intervened in mining difficulty without a well-thought-out plan for tokenomics and automatic adjustments.

6. Centralized Wallets – Online wallets that may be centrally controlled, posing security risks for user funds.

7. No Open-Source Code – No access to the source code or GitHub page, at least i can't find and is not mentioned, making it impossible to verify the system's security and integrity.