The Venezuelan Petro cryptocurrency (PTR) provided by oil, apparently, is “obvious” copy of the Dash: Petro has the same algorithm for mining similar functions, as part of its white paper and does appear to be borrowed from the cryptocurrency with increased anonymity.
As was first noted by developer of Ethereum Joey Zhou (Joey Zhou), white paper cryptocurrency developed in Venezuela, one of its pages contains a picture, copied probably direct from Dash files on Github.
“Lol New token Venezuelan Petro — obvious clone of the Dash (at least page 11 white paper)”.
If you dig deeper, it becomes clear that the Venezuelan government could adopt cryptocurrency, occupies the 12 position in terms of market capitalization, not only one image.
In a document released by the developers of Petro explained that cryptocurrency will be used for hashing algorithm X11, which is characteristic of and Dash, and will also enable instant send “Instant Send”, active by default.
The feature is already represented in Dash, however, Venezuela is touting it as one of the “most important characteristics” Petro.
“One of the most important characteristics of a Petro — this instant send transactions (less than 5 seconds), which represents a significant breakthrough compared to existing cryptocurrencies. This function is activated by default and will work starting with the first transaction by adding the address in blank list”, — the document says.
Petro will have a block size of 4Mb with 6 seconds between blocks, the algorithm of consensus will be a hybrid Proof-of-Work (PoW) and Proof-of-Stake (PoS). The document describes that the network will have masternode that will “make decisions in a network and to support transactions”.
Again, a match — Dash is renowned for its network mastered: according to the Masternodes.online, at the moment it is a cryptocurrency No. 1 using masternode (it should be remembered that many virtual currencies masternode, allegedly just — Scam).
Dash shares the rewards of its network between the operators of mastered (45%) and miners (45%), leaving 10% in their “Treasury.” Developers Petro decided to allocate 85% of the remuneration of network operators mastered, returning to the “initial stage” 15% of users.
As noted in the whitepaper, such a model may at any time be changed by the organization created to “regulate activities carried out by individuals and/or entities related to cryptogateway”, to improve “convenience”.
It is known that the Venezuelan government has already worked for various use-cases for Petro — probably in an attempt to create demand. In April the President announced the possible inclusion of the token in the system of export duties, and in August in the country, a resolution was adopted requiring local banks to use Petro.
The cryptocurrency provided by oil, were recognized as an official alternative currency in the country. The Central Bank of Venezuela has also released a Windows application to convert bolivars in Petro tied to “sovereign Bolivar” — Fiat currency, which should gradually replace depreciated.
Recently Venezuelan leader Nicolas Maduro (Nicolas Maduro) has announced that Petro public sale will be held in November, noting that the official website on the token, is already running. Cryptocurrency wallet Wallet Petro Sunacrip is also already available in Google Play.
It is worth noting that Petro was widely criticized. Even in a century-old “brain center” of the US — Brookings Institute — said the Venezuelan token to the detriment of the “real” crypto currencies, and its pre-sale was essentially a way of the government to circumvent international sanctions and to attract foreign capital.
Add, yet, for all its similarity with the Dash, it is the cryptocurrency with increased anonymity is increasingly becoming a choice the Venezuelans themselves.