In an effort 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 testnet for their Tari Universe desktop application to mine the eponymous Tari token.
In an effort to simplify the complex world of cryptocurrency for a new generation, a team of former Monerodevelopers—including core contributor Riccardo Spagni (also known as “fluffypony”)—are launching a testnet for their Tari Universe desktop application to mine the namesake Tari token.
In an effort to simplify the complex world of cryptocurrency for a new generation, a team of former Monerodevelopers—including core contributor Riccardo Spagni (also known as “fluffypony”)—are launching a testnet for their Tari Universe desktop application to mine the namesake Tari token.
According to Tari contributor Naveen Jain, Tari draws inspiration from the early days of Bitcoin, when anyone could mine the cryptocurrency on their home computer without the need for specialized equipment—before the days of costly and energy-intensive mining rigs.
According to Tari contributor Naveen Jain, Tari draws inspiration from the early days of Bitcoin, when anyone could mine the cryptocurrency on their home computer without the need for specialized equipment—before the days of costly and energy-intensive mining rigs.
“If you think about somebody who's new and doesn't have a MetaMask wallet set up, doesn't have an account with any of the exchanges, how do they participate?” Jain, who was also an early Monero miner, told Decrypt.
“If you think about somebody who's new and doesn't have a MetaMask wallet set up, doesn't have an account with any of the exchanges, how do they participate?” Jain, who was also an early Monero miner, told Decrypt.
“Going back to when Bitcoin first started, people were able to mine Bitcoin on their existing home computers—that's how this entire industry got started,” he continued. “What if we were to bring things back to how Bitcoin started, where anybody can download free software from the internet, install it, and begin mining a new blockchain protocol?”
“Going back to when Bitcoin first started, people were able to mine Bitcoin on their existing home computers—that's how this entire industry got started,” he continued. “What if we were to bring things back to how Bitcoin started, where anybody can download free software from the internet, install it, and begin mining a new blockchain protocol?”
The Tari Universe mining software and testnet will go live on September 12, with the main Tari network set to launch later this year, according to Jain.
The Tari Universe mining software and testnet will go live on September 12, with the main Tari network set to launch later this year, according to Jain.
In May, Tari announced that eligible members of the community could also earn the赠送的 Tari token by completing online tasks, such as liking and retweeting posts on Twitter, joining the Tari Reddit community, and creating memes featuring Soon, Tari's tortoise mascot.
In May, Tari announced that eligible members of the community could also earn the赠送的 Tari token by completing online tasks, such as liking and retweeting posts on Twitter, joining the Tari Reddit community, and creating memes featuring Soon, Tari's tortoise 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 the token that you will use to pay for transactions and use end-user applications on the Tari network.”
“[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 the token that you will use to pay for transactions and use end-user applications 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 technology found in Monero, a leading privacy coin. He said it uses a “hybrid” model, mining half of its blocks on Tari and half via merged mining on Monero.
While Tari is its own blockchain, Jain explained, it uses a proof-of-work consensus algorithm like Bitcoin and benefits from technology found in Monero, a leading privacy coin. He said it uses a “hybrid” model, mining half of its blocks on Tari and half via merged mining on Monero.
However, Jain stressed that Tari is separate from the privacy-focused Monero project.
However, Jain stressed that Tari is separate from the privacy-focused Monero project.
“It would be inaccurate to say that Tari is a sidechain,” he said. “However, we are benefiting from Monero's security model on the RandomX side through merged mining.”
“It would be inaccurate to say that Tari is a sidechain,” he said. “However, we are benefiting from Monero's security model on the RandomX side through merged mining.”
Merged mining is a process that allows miners to simultaneously mine two or more cryptocurrencies that use the same consensus protocol and hashing function. As a result, miners can earn rewards from both networks without using additional resources. Merged mining benefits smaller networks by boosting their security and cost-efficiency.
Merged mining is a process that allows miners to simultaneously mine two or more cryptocurrencies that use the same consensus protocol and hashing function. As a result, miners can earn rewards from both networks without using additional resources. Merged mining benefits smaller networks by boosting their security and cost-efficiency.
Jain said that using this method benefits the Tari community because it will make the network more decentralized and accessible from day one.
Jain said that using this method benefits the Tari community because it will make the network more decentralized and accessible from day one.
“Whether you believe an ETF will save the day or anything you believe about your maximalist vision doesn't matter,” said Jain. “The fact of the matter is that the system is a closed box right now—it's not something that is open, accessible, and all the new protocols that are coming out are catering to the people who are already here.”
“Whether you believe an ETF will save the day or anything you believe about your maximalist vision doesn't matter,” said Jain. “The fact of the matter is that the system is a closed box right now—it's not something that is open, accessible, and all the new protocols that are coming out are catering to the people who are already here.”
For those in the cryptocurrency community who may question the need for a project like Tari Universe, Jain pointed to the need to onboard new users and not rely solely on older cryptocurrencies like Bitcoin to do the work.
For those in the cryptocurrency community who may question the need for a project like Tari Universe, Jain pointed to the need to onboard new users and not rely solely on older cryptocurrencies like Bitcoin to do the work.
“What about the next generation? What about Generation Alpha, Generation Z, these new people?” asked Jain. “You literally had an ex-President at Bitcoin Conference here in Nashville shilling Bitcoin on stage. If that's not the definition of a get-rich-quick pump and dump coin, I don't know what is.”
“What about the next generation? What about Generation Alpha, Generation Z, these new people?” asked Jain. “You literally had an ex-President at Bitcoin Conference here in Nashville shilling Bitcoin on stage. If that's not the definition of a get-rich-quick pump and dump coin, I don't know what is.”
According to Jain, the Tari Universe software will have two modes for mining the token: ECO Mode and Ludicrous Mode, a nod to Mel Brook's classic film "Spaceballs."
According to Jain, the Tari Universe software will have two modes for mining the token: ECO Mode and Ludicrous Mode, a nod to Mel Brook's classic film "Spaceballs."
ECO Mode uses fewer resources from the computer, Jain said, making it ideal for mining while the computer is in use. Conversely, Ludicrous Mode uses more resources and is ideal for when the computer will not be used, such as overnight.
ECO Mode uses fewer resources from the computer, Jain said, making it ideal for mining while the computer is in use. Conversely, Ludicrous Mode uses more resources and is ideal for when the computer will not be used, such as overnight.
“You don't need to have the custom, expensive hardware that you need to mine Bitcoin in order to mine Tari,” said Jain. “If you have an existing laptop or desktop computer, you're able to mine Tari.”
“You don't need to have the custom, expensive hardware that you need to mine Bitcoin in order to mine Tari,” said Jain. “If you have an existing laptop or desktop computer, you're able to mine Tari.”
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