Monero's Lead Developer to Create Tari Protocol

New protocol, built on Monero's network may include loyalty points, concert tickets and in-game items
23 May 2018   1558

Based of the Monero network, a new protocol for digital assets called Tari will be created soon, CoinDesk reports.

According to the authors of the new protocol, Tari will focus on tokens with unique characteristics that contain information about ownership rights (for example, loyalty points or virtual goods). Also, developers note that their protocol will allow issuers of digital assets to participate in the secondary market.

Leading developer at Monero Ricardo Spagni will take part in Tari development. The project website noted that the new protocol will "support any kind of digital assets" and is capable of processing "many thousands of transactions per second".

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. 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. 
 

Naveen Jain

Tari

He believes protocols and networks looking at specific use cases may be more useful than general-purpose ones.

BitBay ot Delist Monero

Exchange has to comply with “market standards” and the fight against money laundering
26 November 2019   333

BitBay cryptocurrency exchange announced the termination of support for the Monero cryptocurrency. The platform explained the decision by the need to comply with “market standards” and the fight against money laundering.

Acceptance of deposits at the XMR exchange will stop on November 29, trading will be stopped on February 19, 2020. In addition, due to the Monero network hard fork planned for November 30, the withdrawal of XMR will not be possible from November 29 to December 5.

Users are asked to finally withdraw funds by May 20 of next year.

Monero (XMR) can selectively utilize anonymity features among projects. This feature of XMR is a subject to end of transaction support. The decision was made to block the possibility of money laundering and inflow from external networks. Monero (and other cryptocurrencies with this specification) has been already delisted on other fiat-crypto exchanges for the same reason. As a licenced exchange, BitBay has to follow the market standards.
 

BitBay

 As you can see, BitBay named Monero's anonymity as the reason for delisting.