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Monero [XMR] introduces Tari, a counterparty by the tycoons

Simran Alphonso

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Monero [XMR] introduces Tari, a counterparty by the tycoons
Source: Pixabay

Tari is a decentralized assets protocol that is going to be built on top of Monero. Tari has been founded by Riccardo Spagni, Naveen Jain, and Dan Teree.

Riccardo Spagni is the core team member of Monero, Naveen Jain is a successful entrepreneur and Dan Teree who sold his company Ticketfly for $450 million to Pandora. They are the co-founders of Monero’s counterparty. This combination of tech entrepreneurs developed the new kickstart for Monero; Tari.

Tari, like a counterparty, will have a native token. It will be operated as a merge-mined sidechain. The miners will be capable to earn Tari block rewards and fees as they will be mining Monero. In addition to combining Tari in Monero’s security model, it will also support atomic swaps between itself and Monero.

Tari will use Rust as their language of choice for the Tari Protocol Software. The team of Tari decided Rust because they believe it is an incredibly capable language that is purpose-built for a software like theirs and also because they want to make sure that Tari does not drain any of the existing Monero contributor support.

Tari, on their page, says:

“Our mission is to steward the most useful decentralized platform that empowers anyone to create digitally scarce things people love.”

Riccardo Spagni, to portray his support for Tari tweeted:

“In case anyone says something dumb like “fluffypony’s leaving Monero” point them to this:”

Along with the tweet, he attached a link to the official subreddit of Monero where he posted an article about Tari and Monero.

Tari is backed by some of the world’s leading top-tier VC firms, such as Redpoint, Trinity Ventures, Canaan Partners, Slow Ventures, Aspect Ventures, as well as some of the leading blockchain VC firms.

Tari will be an open-source project built in the spirit of Monero, to the point where Tari will reuse a lot of the patterns that they developed over the years for Monero.



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Simran Alphonso is a Journalist at Ambcrypto. She has a background in Financial Markets and holds expertise in Digital Marketing.

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Bitcoin [BTC/USD] Technical Analysis: Cryptocurrency fails to climb on the bull after price stays locked down

Akash Anand

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Bitcoin [BTC/USD] Technical Analysis: Cryptocurrency fails to climb the bull after price stay locked down
Source: Unsplash

The cryptocurrency market’s bearish woes do not seem to have waned with several popular coins seeing a continuous price downturn. Bitcoin [BTC], XRP, and Ethereum [ETH] have only enjoyed sporadic bullish spikes with a definite control being exerted by the bear.

1-hour

The one-hour BTC chart shows the gradual drop in prices. The support has been holding at $3214.17 while the resistance is maintained at $4160.21. The recent downtrend took the prices down from $3558.58 to $3367.97.

The Relative Strength Index shows a slight spike towards the overbought zone. This means that the buying pressure is increasing slightly more than the selling pressure.

The Bollinger band shows a clear divergence with the upper band and the lower band indicating an imminent sideways price movement.

The Parabolic SAR has been predominantly bearish with the markers staying above the markers. At the time, the SAR indicators were below the price candles which is a bullish sign.

1-day

The one-day chart for Bitcoin does not paint a better picture for the cryptocurrency with no uptrends in sight. The long-term support has been holding at3346.6 while the recent downtrend saw the price fall from $6262.97 to $3408.

The MACD indicator shows the MACD line and the signal line moving as a conjoined pair. Other than the bearish dip, the MACD histogram has been undergoing a lull.

The Chaikin Money Flow indicator is just below the zero line, which is a sign of the money flowing out of the market being more than the money coming into the market.

Conclusion

The above-mentioned indicators all point to an extended bear run with the prices still being clamped below the $4000 mark. With the year coming to a close, the predicted bull run does not seem to be occurring anytime soon.

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Binance Coin [BNB] takes off by 11.31%; ERC20 uniswap bug affecting BNB users, but CZ says funds are SAFU

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Binance Coin [BNB] takes off by 11.31%; ERC20 uniswap bug affecting BNB users, but CZ says funds are SAFU
Source: Unsplash

Binance Coin [BNB], in the 24-hour time frame, has spiked by a massive 11.31% leaving other Bitcoin [BTC], Ethereum [ETH], XRP, and other cryptocurrencies to eat dust amid the doom-December.

In the 24-hour time frame, the BNB coin started trading at $4.63 with a market cap of $605 million on December 11, 16:30 UTC. The price dipped to $4.59 within a couple of hours but didn’t stay there for long as the prices saw four significant spikes.

Source: CoinMarketCap

The first spike propelled the price to $4.90 while market cap increased by $34 million, this was followed by a correction of prices to $4.83.

The prices couldn’t reach the $5 mark as the prices exhausted at $4.97. The third spike which was followed after the correction also lost the strength and ended up at $4.97.

The most significant rise was the one that took place on December 12, 16:10 UTC which propelled the prices beyond the $5 mark as it reached $5.15. The market cap also took a huge bump and reached $675 million.

The price fluctuation could be attributed to two reasons, the first being the launch of Binance DEX, which will swap the ERC20 token, BNB from Ethereum platform to Binance blockchain, which was announced by Binance and CZ.

It could also be due to a bug that was tweeted out by a Twitter user Uniswap.

The tweet stated:

“1/ WARNING: BNB providers

Due to a bug in the binance BNB contract it’s possible to add liquidity to the Uniswap BNB<>ETH liquidity pool but not remove it.

This bug is a variation on the “missing return value” ERC20 bug which affects several tokens.”

CZ replied to this tweet:

“Nothing new here. If you send token to a contract address, you won’t get it back. Just like if you send tokens to an address you don’t control for no reason, or a (valid formatted) address no one controls, you won’t have a way to get it back.”

CZ eventually being the humble person he is, tweeted out saying that people who had lost tokens due to this would recieve BNB from Binance.

CZ replied in subsequent tweets about this bug.

“Protecting users is not just talk. It requires action. Stay #SAFU!”

“One guy actually made quite a bit of profit out of his honest mistake. He sent it when it was cheap, and got it back when it was a big multiple.”

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