Monero (XMR) to build Tari protocol on its platform – Monero News Today

Tari is a protocol which is created by Riccardo Spagni, Naveen Jain, and Dan Teree. Monero recently announced that it will be introducing this protocol on its platform.

All the co-founders of Monero are actually counterparty. They are all tech entrepreneurs in their own capacity. Tari, on the other hand, is a native token. As a result, any cryptocurrency miner who is working to mine Monero will be able to get Tari as a reward and has a fee. This will ensure that automatic swapping between the 2 tokens is also possible.

Details about Tari:

Rust is the programming language which will be used by this protocol. As a result, it will easily used as well. In addition to that, it will not impact the network of Monero in any negative way. As a result, it will become easier for Monero to operate completely smoothly.

On the other hand, when you look at Tari, it is a decentralized platform which will empower each and every individual who is holding the digital assets.

VC backing:

Tari is backed by marquee name VC forms like Trinity ventures, slow ventures, and aspect ventures among others. As a result, this platform actually holds a lot of promise. This is the reason why it is being included integrated with the Monero.

It remains to be seen whether the cryptocurrency miners are actually happy in dealing with this particular token. If indeed, they have been dealing with this particular token, they will not mind that this integration. On the other hand, if they are not happy, this integration will not be successful.

Strong community:

Monero has a very strong community. Any new development in Monero is either backed by the community or outrightly rejected by them. That is why it remains to be seen whether this development is backed by the community or whether this development is actually rejected by the community. Only when it receives the thumbs up from the community, it will become easier for the Monero development team to actually use this token.

Till then, however, it just remains a positive announcement. Till the time, it is mostly used in reality; users will not be able to determine whether it is beneficial for them to use Tari or whether it is not a useful addition for the cryptocurrency. If indeed the miners accept Tari as a reliable token for mining it will be a great success.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.
Joseph Taylor is a is a Senior Writer at TheOofy. Originally from UK, Taylor attended Oxford Business School. He covers many things from fintech apps, banking, and financial technologies. He also speaks at fintech conferences. He owns small amounts of various cryptocurrencies.