Venezuelan Petro Called a Clone of Dash

Venezuelan Petro Called a Clone of Dash

A tweet by Joey Zhou, an Ethereum core developer, pinpoints that a diagram on the eleventh page of the Petro (PTR) whitepaper has been plagiarized from the Github repository of Dash.

Crypto news website CCN studied the whitepaper of the Petro where they also found that some aspects in it are very similar to Dash.

The X11 Mining Algorithm

Dash has been using the X11 mining algorithm, and so will the Petro. The particular mining algorithm has an Instant Send component that Dash uses. This component will also be present, as the most important feature, in the Petro.

The Use of Masternodes

A number of cryptocurrencies who use masternodes are suspected to be scams, according to the CCN article. Dash is distinguished by its use of masternodes in its blockchain. It divides the rewards equally to masternodes and miners by 45% and the 10% goes into its treasury.

The Petro will follow suit. Its whitepaper denotes it will use masternodes as a decision-making tool and as a transaction support in its network. For the Petro, masternodes will receive a huge chunk (85%) of the rewards and the remaining percentage will be returned to the user in an initial phase.

Dash has been very popular in Venezuela since August this year, while the oil-backed Petro has been controversial since its inception.

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