According to reports out this morning, the Monero network is due to see some big changes, changes that could entirely change the face of Monero.
Recently, Monero has been under scrutiny on the basis that it has statistically been under a large volume of mining attacks, due to certain vulnerabilities that seem to make Monero more hackable. Of course, Monero developers have worked to resolve these issues and thus, recently we have had no further reports of large scale hacking taking place within Monero, suggesting that for now, all vulnerabilities have been resolved.
At the time of writing, Monero is valued at $175.92, down 7.85%. Judging by these figures, we can see that Monero has been subject to the market decline that is current seeing cryptocurrencies stoop to new monthly lows. With this in mind though, the fall of Monero may soon be halted, given the scale of upgrade expected to the network.
According to Coin Desk, a new Digital Assets Protocol called ‘Tari’ will be introduced to the Monero network that will support non-fungible tokens. With this in mind, Tari will support anything that can be tokenized, be that concert tickets, video game credits or anything else that can be ‘digitally owned’.
According to Coin Desk, Naveen Jain, co-founder of Monero has said:
“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. 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?”
See the full report by Coin Desk for yourself, here- https://www.coindesk.com/moneros-lead-developer-helping-launch-crypto-trading-protocol/
This is sentiment to the versatility of the Monero network, clearly here, Jain believes that the future for Monero is within adaptability, in order for the currency to succeed, Jain and the team have realised that Monero needs to support as many different services as it can, this in essence is the beauty of the blockchain and is something that could indeed drive Monero forward.
Whilst we have no confirmed launch date for Tari just yet, we can see this news having a positive impact on the value of Monero.
For now, we will wait and see how this story develops, hopefully soon enough, we see elements of Tari unrolled and as a result, we see Monero reap the benefits.