Home Ethereum News Venezuela's Petro White Paper 'Blatantly' Copied Sprint, Ethereum Developer Says

Venezuela's Petro White Paper 'Blatantly' Copied Sprint, Ethereum Developer Says

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Venezuelan state-owned cryptocurrency Petro has apparently plagiarized elements of its white paper from the GitHub repository of Dash. Core developer of Ethereum Joey Zhou pointed this out in a tweet posted Tuesday, Oct. 2.

Zhou has tweeted that Petro, which has simply been formally launched by president Nicolas Maduro, is “a blatant Sprint clone.” For example this, he posted a hyperlink to the Venezuelan coin’s white paper, which had an actual copy of a picture from Dash’s repository on Github.

A picture from Sprint’s repository on Github, added to p. 11 of Petro’s white paper with an added title in Spanish. Screenshot: Cointelegraph

The “clone” picture will not be the one factor that Petro apparently borrowed from Sprint. The technical description of the coin says that it’s going to use the X11 Proof-of-Work (PoW) mining algorithm, the identical that’s utilized by Sprint.

Whereas many cryptocurrencies use widespread cryptographic algorithms – similar to Bitcoin’s SHA-256 – Petro additionally makes use of “nodos maestros,” or masternodes – a well known mechanism utilized by Sprint to manage its ecosystem.

The final however not least of the coincidences is Instant Send – Sprint’s mechanism for quick transactions and likewise one of the crucial vital traits of Petro, as per its white paper:

“Probably the most vital traits of Petro is immediate ship (lower than 5 seconds) of the transactions, which represents an progressive method and Petro’s vital affect compared with present cryptocurrencies.”

The information comes shortly after Venezuela’s president announced the official sale of Petro, which is slated to start out November 5.

Maduro has additionally acknowledged that the oil-backed cryptocurrency is about to start buying and selling on six main crypto exchanges. Nonetheless, as of press time, it has not but been listed on any of the biggest buying and selling platforms similar to Binance, OKEx and Huobi, based on CoinMarketCap.

Earlier in August, Ryan Taylor, CEO of Sprint Core Group, has said that Venezuela had develop into the second largest marketplace for Sprint. In accordance with Taylor, nearly 100 retailers in Venezuela start to just accept the coin every week, partly attributable to the quick devaluation of bolivar – the nation’s official forex.

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