The field of privacy encryption is a vibrant yet highly challenging arena!
The Tari project was born from a simple vision: to enable everyone to truly own, control, and freely trade value in the digital world.
🔥 What is Tari?
Tari is a Layer 2 protocol focused on the issuance, trading, and management of digital assets, built on an open-source, secure, and decentralized blockchain network. It aims to provide lightweight, highly scalable, and user-friendly infrastructure for the next generation of digital assets (such as NFTs, game items, virtual goods, fan economy tokens, etc.).
🌟 Why choose Tari?
- Extremely low transaction costs: By combining off-chain transactions with on-chain settlements, Gas fees are significantly reduced, making microtransactions possible.
- High-speed scalability: Supports high concurrent processing, easily handling large-scale user and asset interaction scenarios.
- User-friendly experience: No complex wallet configurations are needed; one-click operations make digital assets truly "usable."
- Strong developer ecosystem: Provides SDKs, APIs, and complete documentation to help developers quickly build applications.
🚀 Tari's application scenarios
- Gaming and the metaverse: Issuing unique game assets to achieve cross-platform value circulation.
- Music and art: Artists can directly issue limited edition NFTs, allowing fans to participate in co-creation and monetization.
- Social tokens: Community creators issue exclusive tokens, unlocking new models of fan economy.
- Virtual goods market: Seamless integration of digital fashion, virtual real estate, and collectibles trading.
💡 Tari as a privacy public chain bridge
Tari is not just a protocol; it is an open and collaborative ecosystem. Tari is not another public chain that repeats the wheel. Its co-founders, Riccardo Spagni (former chief maintainer of Monero) and Naveen Jain, have infused it with a deep genetic foundation in privacy technology. The original intention of the project was to build a Monero sidechain, but the team ultimately chose a more ambitious path: to create a privacy-first dual-layer architecture public chain specifically for digital assets.
TARI has a natural connection with Monero from the project's inception to its four different mining algorithms. XMR's daily trading volume ranges from $50 million to $200 million based on statistics, and due to XMR's privacy features, the secondary market, especially centralized exchanges, faces compliance restrictions. The inherent connection attributes of XMT may serve as a better carrying tool in the future, taking on the trading functions between XMR and other assets. Thus, XMT not only carries the native value of XMR's trading capacity but also brings significant value.
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Decentralized cross-chain atomic swaps
One of Tari's initial design goals was to enable its digital assets (like a unique sword in a game) to be traded directly with Monero (XMR) without trust or third-party intermediaries. This process is known as atomic swaps.
In this vision, XTM is not merely a medium of exchange for "exchanging" XMR (like USDT in exchanges). Instead, XTM and XMR are native assets on two different blockchains that can be exchanged directly through technical means.
A simple analogy:
Imagine you want to trade US dollars (XMR) directly with a British person holding pounds (digital assets on Tari). Atomic swaps are like an automatically executed smart contract that ensures "either you receive the pounds and pay the dollars simultaneously, or the trade is canceled, and neither party incurs a loss." In this process, there is no need to first convert dollars to euros (XTM) before exchanging for pounds. -
How do atomic swaps work?
Both Tari and Monero implement technology based on Hash Time-Locked Contracts (HTLC) to enable atomic swaps.
- Initiating the transaction: Suppose Alice wants to use her 10 XMR to purchase a digital asset (like a concert NFT) from Bob on the Tari chain.
- Generating a secret: Alice generates a secret (a random number) and calculates its hash. She provides the hash to Bob.
- Creating contracts:
- Bob creates a smart contract on the Tari chain: "Whoever can provide the original secret matching this hash within 3 hours will own this NFT."
- Alice creates a smart contract on the Monero chain: "Whoever can provide the original secret matching this hash within 2.5 hours will own these 10 XMR."
- Execution and claiming:
- After seeing the contract on the Monero chain, Bob first executes the contract on the Tari chain, but he needs the secret to claim the NFT. He cannot complete it at this moment.
- Key step: To claim Bob's NFT, Alice must submit the original secret to the Tari contract. Once she does this, the secret is made public on the blockchain.
- Bob sees this public secret and immediately uses it to claim the 10 XMR on the Monero chain.
- Results:
- Success: If everything goes smoothly, Alice receives the NFT, and Bob receives 10 XMR.
- Timeout: If either party fails to complete the operation within the time limit, all funds and assets will automatically revert to their original owners. Neither party needs to trust the other or an intermediary.
The author believes that based on the market capacity and scale of XMR, the emergence of the TARI project is both necessary and realistic. Through various mining algorithms of XMT, the connection with Monero not only creates immense trading value but also provides the mining value inherent in XMT itself, offering more opportunities for miners. We also look forward to the Tari project achieving its original goals, with immense opportunities and promising prospects!