Analysis! Possible origins of Venezuelan Criptomoneda Petro (part I)

I want to clarify that I want this article that was purely technical, without taking into account political dyes. Since many want to invest in the coins and many others not only want to know a little more. As you all know, on December 3 The Venezuelan President has launched the creation of a Venezuelan Criptomoneda which will give the name of El Petro. So far they have not given detailed information of their origins from that is that they depart speculations that type of currency could be, structures or base code.

Its main attractive element is the so-called support offered by this Criptomoneda, being innovative in the market. We also know that this of taking reservations as a backup to give value to a Criptomoneda is not very true or almost impossible to fulfill. Example of this is the gold patron through the Bretton Woods agreements.

where he decided to adopt the US dollar as an international currency, under the condition that the Federal reserve (the central Bank of that country) hold the gold standard. But from 1971, the same one is definitively broken, the United States presents itself almost without reserves in gold so the value of the dollar happens to support itself exclusively in the confidence that its owners give it.

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All Cryptomoneda must have some basic parameters to fulfil being the first and most important is that it is desirable. The rest being the basis of desire to be: immutable, scalable, portable and scarce. That speaking in a general way, but what model will take this coin?
One is to follow the model of bitcoins, making a copy of the network using the for Kroin.
This is widely used for new projects which promise to be exceptional, but so far none have been surprised.

The Kroin technological system
Kroin is the digital asset within a technological system that aims to modernize, streamline and simplify financial transactions by creating a web-and mobile-based alternative to the economic, financial and payment system used Currently.
The distribution of Kroins is managed by a proprietary algorithm. The user interface architecture is represented by a software plug-in categorization, which guarantees total privacy for the user, Internet browsing and the time dedicated to it, creating and distributing kroins according to the Algorithm classification rules. All user credentials and activities will be collected on the Dynamic Web site where the user can access his WALLET.
The number of Kroins per user is governed by a set of rules within the proprietary algorithm. The global number of kroins and the limit for their creation and distribution are two of the rules established in the algorithm. The number of plugin downloads and the contextual number of Kroins, the exploitable and convertible trust money, as well as the number of transactions and payments will help to create the value of the economy [Kroin economy] that will begin and grow and develop In Kroin. Such an economy will take as a starting point the amount of downloads and the usability of the Kroin product itself allocated within the network.

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This would allow the country to make a parity with the currency of the country or simply with the reserves to remove the amount of cryptomonedas available from the Petro. We don't know this information yet.

This type of model is already used by the Bitcoin cash and the bitcoins gold but have been created by the miners themselves in order to optimize the mining equipment among other aspects.

Another alternative following the Bitcoin model would be the altcoin this would imply starting from scratch create a new currency, a chain of blocks and different technological conditions, with all the technical aspect that supports it and which will carry the name Petro.

Altcoins is a simplified construction of the words "alternatives" and "coins". It could be translated, therefore literally as "alternative currencies". The term Altcoins refers to criptomonedas that derive from the Bitcoin source code also known as "forks", ie branching, bifurcation ... There is a great variety of Altcoins, but they all have in common that they are implementations of currencies that originate in the Bitcoin source code and differ in the basics of implementation of Bitcoin. They use their own chain of blocks (blockchain), their own network P2P (peer-to-peer, network between pairs in Spanish). Some Altcoins also use a different mining algorithm. Some names of Altcoins: Litecoin, Dogecoin, Freicoin, Primecoin, Peercoin, Darkcoin , There are hundreds of them.

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Any of these two alternatives posed for the creation of the currency for Venezuela would not be the most advisable since none of these will be integrated into the Bitcoin, IE will not be annexed to the international system as are the BTC. That is, by means of the proposed models Venezuela would not skip the blockade to which they are exposed and all the sanctions to which they are economically subjected. Because it must convince countries to be able to buy their currency or accept it. We can raise the model Etherium which will be explained in more detail in the next article.