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So it's a leader-electing decentralized scheme?

What if the leader goes down? What if 2 leaders get accidentally elected in the wake of that?

What if the elected leader is a bad agent?

I don't like non-leaderless decentralization schemes. All you're doing is adding mobility to centralization.

All good questions, all of which are answered in the white paper. An "elected leader" is essentially the same thing as a miner that mines a block in Bitcoin. Miners can mine empty blocks in Bitcoin. This is OK, as others will step in for such defunct miners. Likewise, in Bitcoin-NG, another miner will step up if the elected leader does not mint microblocks.

Keep in mind also that NG would be layered on top of Bitcoin, so everything that works in Bitcoin will work in NG as well.

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