Meet Monero’s New Protocol - Tari

Riccardo Spagni, Monero’s chief engineer announced the design of a second-layer protocol, which will help the network’s clients to trade and make digital assets.

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The protocol named Tari allows programming and issuing of digital resources like loyalty credits, games gifts, and item, tickets for shows and concerts over the blockchain. Similar to the ERC-721 tokens in the Ethereum arrange, users will be able to own their digital assets. Tari will be organized as a side chain to the main network giving its users the flexibility to merge-mine Monero tokens with XMR.

Tari Naveen Jain, CTO of Monero, said: "Tari will change the connection with cryptocurrencies fundamentally. We are building a wonderful group to guard and guide the most valuable decentralized platform in presence, engaging anyone to issue, supervise, utilize and exchange their digital resources."

Despite that Tari is not the only project utilizing blockchain innovation to enable digital resources exchange, Monero’s co-founders Jain, Riccardo Spagni, and Dan Teree guarantee that it is the protocol is a pioneer for such particular aim, designed to answer the needs of businesses that would benefit from it in their operations at scale.

Spagni ensured that the new project will not conflict with his commitment to Monero and is reducing his external obligations in order to focus on providing timely delivery of the protocol.

He added: "I'm eager to give from my experience, to assemble something over Monero, and to make a cutting-edge computerized resource centered protocol that uses the Rust programming language. We have the assets to extend Monero's leading engineering network, and I am looking forward to releasing and managing a cutting-edge protocol that is genuinely valuable."

Companies like Redpoint, Trinity Venture, Blockchain Capital, and Pantera have supported the project financially.

The blockchain world is still waiting to see the timeline or the roadmap for the project.

Monero Cryptocurrency Tari