A number of nuclear physics issues concerning the Los Alamos molten‐salt, accelerator‐driven plutonium converter are discussed. General descriptions of several concepts using internal and external moderation are presented. Burnup and salt processing requirement calculations are presented for four concepts, indicating that both the high power density externally moderated concept and an internally moderated concept achieve total plutonium burnups approaching 90% at salt processing rates of less than 2 m3per year. Beginning‐of‐life reactivity temperature coefficients and system kinetic response are also discussed. Future research should investigate the effect of changing blanket composition on operational and safety characteristics. ©American Institute of Physcis 1995