Monero to Launch a New Crypto Trading Protocol

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Monero is about to launch a new crypto trading protocol built on the monero network, which includes loyalty points, concert tickets, and in-game products reported Coindesk on May 23.

The new digital assets protocol called “Tari” will help to support token with unique characteristics, mentioned co-founder Naveen Jain.

Riccardo Spagni, monero project lead, and the entrepreneur Dan Teree are also members of the founding team added Jain.

The goal of this new initiative is to “support any kind of digital assets.” An example of a use case of Tari would be to allow digital asset issuers to participate in the resale market.

Jain mentioned that the protocol would also be able to support items in video games.

He added,

“If you have a decentralized distributed trustless system that supports non-fungible tokens that enforces the rule sets around digital assets, that changes the game because now you have an opportunity for consumers to trade those digital assets.”

Jain noted that he thinks Tari’s approach is different than others for a multitude of reasons.

He explained,

“We don’t want to make a lot of future statements, we just want to prove ourselves along the way and we think that’s a great way to build trust and build our community. I think what sets our token apart is we’re maniacally focused on our use case. This isn’t an ethereum competitor.”

Jain believes that protocols that are looking at more specific cases are more useful than the ones exploring more general cases.

“I think an important point to make in terms of how our space is evolving too -do we build a protocol that’s useful for every possible use case or do we build one that’s focused on one type of use case,” he concluded.

 

 

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