If something nefarious is showing all the history relative to Petro – the creation of Nicolás Maduro that does not end up being neither cryptocurrency nor anything like that – it is the manipulation of the concept of cryptocurrency that unscrupulous beings can do. And this is a point of reflection for the entire cryptographic community.
If it has not been sufficient with the clear technical constitution of Petro – a presumably centralized cryptocurrency, supposedly backed by Venezuelan oil, and not anonymous, the user having to register in a dictatorial system of Nicolás Maduro in order to “access” the presumably cryptocurrency, which for now only the minds of Maduro’s environment know – now it turns out that the Petro is a plagiarism of the technical documentation of Dash.
It has been proven that the Petro has the same data mining algorithm, similar characteristics, and a part of its technical document copied with detail from the Dash white paper. Joey Zhou, one of the developers of Ethereum, in his Twitter account rightly commented that Petro’s White paper has on page 11 an image that seems to have been copied from Dash’s Github repository.
But it is not the only thing. In fact all the theoretical characteristics of the Petro are copied from Dash. When reviewing Petro’s White paper, it is explained that the “cryptocurrency” will use the X11 mining algorithm – similar to Dash – and will include an “Instant Send” function that is active by default.
While the aforementioned instant dispatch feature is held by Dash, the Maduro regime says it is one of Petro’s “most important characteristics”.
Petro’s technical document says:
“One of the most important characteristics of Petro is the instantaneous sending (less than 5 seconds) of the transactions, which represents an innovative advance with a significant impact compared to the existing cryptocurrencies.This function is activated by default and will work from the first transaction, adding the address to a blank list. “
You can be a reader friend, realize Maduro’s level of impudence by attributing “innovation” and “superiority over all other existing cryptocurrencies” when in reality he is blatantly plagiarizing Dash’s technical repository.
One of the most important things in the Petro technical document is that it indicates that the network will have masternodes, that “they will make decisions in the network and will support the transactions carried out by them”. Basically a network of the same regime of Maduro centralizing everything, and deciding by and for its circle.
Petro So that there is no doubt about what we have just mentioned, Petro’s technical model, according to the technical document quoted here, can be changed “at any time for the convenience of the network” by SUNACRIP, a central entity created for “regulate the activities carried out by natural and / or legal persons connected to the cryptoactives”.
However, it must be remembered that the Petro is basically a maneuver to evade economic sanctions and legitimize capital. The Brookings Institute rightly criticized Petro, pointing out that it undermines legitimate cryptocurrencies, and that its early sale was essentially a way in which the Maduro regime could evade international sanctions and attract foreign capital to its coffers.
The US government announced a few days ago that it will intensify the sanctions on Petro, so that said “cryptocurrency” will continue to be an example of everything that should not be done and is wrong in the cryptographic spectrum.