RE: ''PETRO'' THE REVOLUTIONARY VENEZUELAN CRYPTOCURRENCY HOW IT WORKS?

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''PETRO'' THE REVOLUTIONARY VENEZUELAN CRYPTOCURRENCY HOW IT WORKS?

in cryptocurrency •  7 years ago 

Blockchain peer-to-peer!!

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POS/ POW? Is it ERC20 or WAVES platform or something entirely different?

Depending on how they have built it can have huge influence on the control of the new currency- eg, if it is POS and the government own the majority of the farms, they can in effect apply direct taxation via mining fees (which are applicable to every blockchain transaction (with a few exceptions, STEEM being one)), whereas if they are using a 3rd party platform, they will have much less control over it, and it will be potentially more fair.

Crypto in itself does not necessarily mean freedom or fairness.