Monero keeps expanding in the crypto market, and this time, Riccardo Spagni launched a brand new protocol known as Tari that is built on top of the Monero network. This new protocol will allow the creation of decentralized application (dApps) and tokens, and some individuals are already calling it Ethereum’s killer.
What is Tari?
Riccardo Spagni, one of the most important team members of Monero, Naveen Jain, and Dan Teree, have unveiled Tari, built on top of Monero. The network will have a native token and it will be operated as a merge-mined side-chain where miners will be capable of earning tokens via block rewards and fees. Additionally, it will be able to support atomic swaps between itself and Monero.
Bitcoin has been, and still is, the most famous virtual currency in the market. But other currencies like Ethereum or EOS, have been adopted by several developers due to the different functionalities that they have – something that Bitcoin is not able to achieve.
Tari wants to be the first real competitor for Ethereum in the industry. As it will be built on Monero, Tari is also going to be a privacy-focused coin, and it will also compete with other privacy cryptocurrencies like Zcash, Bitcoin Private, PIVX or Bytecoin.
The number one focus of Tari will be user experience, according to Riccardo Spagni. The main intention is to make the end user experience as easy, friendly, and enjoyable as possible. If Ethereum was able to make it easy for developers to launch their coins, Tari will make the experience great for everyone.
Tari has different backers in the industry, including some important VC firms such as Redpoint, Trinity Ventures, Canaan Partners, Aspect Ventures, Slow Ventures, and many others.
At the moment, Monero is one of the most important cryptocurrencies in the market. It is the 13th by market capitalization and each token can be traded for $156 dollars. Monero has been one of the most successful privacy currencies in the market and it is one of the favourites in the virtual currency community.
Riccardo Spagni Steps Down as CEO of MyMonero
Riccardo Spagni has decided to step down as CEO of MyMonero leaving the place to Paul Shapiro – also known as endogenic. In the next few days or weeks he will not be operational on MyMonero anymore.
“I have stepped down as CEO of MyMonero, and have handed the reins to the very competent Paul Shapiro (aka endogenic). We are in the process of the last few bits being totally handed over, after which I will be non-operational on MyMonero.”
Mr. Spagni will be working with Monero, focusing on the privacy features and giving technical advice and counsel to the contributors. Moreover, he will continue to serve on the Core Team for as long as he will be required. Moreover, he will also spend more time on the Monero Enterprise Alliance.