Venezuelan state-owned cryptocurrency Petro has apparently plagiarized components of its white paper from the GitHub repository of Sprint. 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 instance this, he posted a hyperlink to the Venezuelan coin’s white paper, which had a precise copy of a picture from Sprint’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 isn’t 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 frequent cryptographic algorithms – similar to Bitcoin’s SHA-256 – Petro additionally makes use of “nodos maestros,” or masternodes – a widely known mechanism utilized by Sprint to control its ecosystem.
The final however not least of the coincidences is Immediate Ship – Sprint’s mechanism for quick transactions and in addition probably the most essential traits of Petro, as per its white paper:
“Probably the most essential traits of Petro is prompt ship (lower than 5 seconds) of the transactions, which represents an modern method and Petro’s vital affect compared with current cryptocurrencies.”
The information comes shortly after Venezuela’s president introduced the official sale of Petro, which is slated to begin 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 most important buying and selling platforms similar to Binance, OKEx and Huobi, in accordance with CoinMarketCap.
Earlier in August, Ryan Taylor, CEO of Sprint Core Group, has stated that Venezuela had turn into the second largest marketplace for Sprint. In accordance with Taylor, nearly 100 retailers in Venezuela start to simply accept the coin every week, partly attributable to the quick devaluation of bolivar – the nation’s official foreign money.