Monero Vets Prep Tari Token, Promising Easier Mining for Newbies Than Bitcoin
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In a bid to simplify the complex world of cryptocurrency for a new generation, a group of former Monero developers, including core contributor Riccardo Spagni (also known as “fluffypony”), are launching the testnet of their Tari Universe desktop application for mining the eponymous Tari token. According to Tari contributor Naveen Jain, Tari was inspired by the early days of Bitcoin when anyone could mine cryptocurrency on their computer without the need for specialized equipment—before expensive, energy-consuming mining rigs became the norm. “If you think about a new person who doesn’t already have a MetaMask wallet installed and doesn’t have an account with some exchange, how do they participate?” Jain, who was also an early Monero miner, told Decrypt. “Back in the day when Bitcoin first launched, people could just mine Bitcoin on their existing computers—that’s how this whole industry started,” he continued. “What if we brought things back to the way Bitcoin first started, where anyone can download free software from the internet, install it, and start to mine a new blockchain protocol?” Jain said the Tari Universe mining software and testnet will go live on September 12, and the Tari mainnet will go live later this year. In May, Tari announced that eligible community members could also earn airdropped Tari tokens by completing online quests, including likes and retweets on Twitter, joining the Tari Reddit community, and creating memes featuring Soon, Tari’s turtle mascot. “[The Tari token] should be viewed similarly to a token like Ethereum,” he said. “It’s the token that powers the entire network, it’s a token that you’ll be using to pay for transactions and use applications eventually on the Tari network.” While Tari is its own blockchain, Jain explained, it uses a proof-of-work consensus algorithm like Bitcoin and benefits from the technology found in Monero,…
Filed under: News - @ August 17, 2024 10:12 pm