Bolivarcoin is the first digital currency of Venezuela. It was founded in 2015 by "Satoshimon Bolivarmo" which is apparently an inside joke referring to Bitcoin‘s creator Satoshi Nakamoto. Bolivar coin or for short BOLI was made to be used by the Venezuelan citizens. There is no ICO, premining or any crowdfunding. What the developers do is to follow other altcoins and improve and adapt BOLI. The algorithm is Proof of work x11. The block time is 3 minutes with a block reward of 25 BOLI. The maximum supply of coins will be 25,000,000. Bolivar coin has employed a unique technology called InstantX which allows fast transactions with low fees. Personal wallets are secure and protected by cryptocurrency and two-tier structure. Bolivar uses open source code. Exchanging BOLI coins is possible on Cryptopia and miners can join Umine.