Home Finance News Petro’s White Paper Plagiarized Dash, ETH Core Developer Said

Petro’s White Paper Plagiarized Dash, ETH Core Developer Said


Petro, the state-owned digital currency of Venezuela, and it seems that some parts of its white paper were copied from Dash, Github repository. This is what Joey Zhou, Eth core developer mentioned in his tweet last Tuesday, Oct.2.

In his twitter account, Zhou pointed out that Nicolas Maduro, Pres of Venezuela has just launched this Venezuelan state-controlled crypto. He called Petro as a blatant clone of Dash.  To exemplify this, Zhou included a link in his tweet to the Petro’s white paper that had a correct copy of a picture from the repository of Dash on Github.

The clone picture isn’t just the only thing which Petro copied from Dash. One of this is the coin description. According to Zhou, Petro will be using the X11 Proof of Work or PoW mining algorithm, similar to what Dash is using.

While a lot of digital currencies are using the same cryptographic algorithms like BTC SHA-256, This Venezuelan state controlled digital currency also utilized masternodes or nodes maestros- a renowned mechanism used by Dash in order to manage its ecosystem.

Instant Send is also another feature that allegedly plagiarized by Petro to Dash. Instant Send is the Mechanism of Dash for fast and quick transactions.  Zhou also pointed out that Instant Send is also a vital feature of Petro, this is according to the white paper.

The essential feature of this Venezuelan state-owned digital currency is the instance send, which only takes seconds to finish transactions, which shows a state of the art approach and the significant impact of Petro in comparison with current digital currencies.

The report comes shortly after the Pres of Venezuela presented to the public the official sale of petro that set to begin three weeks from now.

According to Venezuelan president, the oil-supported digital currency is about to start trading on six renowned digital currency exchanges. On the other hand, at this point in time, it hasn’t yet been recorded on any of the biggest platforms for digital trading currency like Huobi, OKEx as well as Binance, this is according to the reliable source.

A few months ago, Chief Executive Office of Dash Core Group, Ryan Taylor stated in an interview that this country is the 2nd biggest market for Dash. Virtually 100 merchants in this region start to accept the coin on a weekly basis, partly due to the fast deflation of the countries official currency, which is the Bolivar.

Read more about:
Share on

Steven Anderson

Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9

Crypto newsletter

Get the latest Crypto & Blockchain News in your inbox.

By clicking Subscribe, you agree to our Privacy Policy.