XMR Riccardo Spagni shifts roles from being the lead maintainer to a backup maintainer. He will further work on Tari, but there is not as much hype for Tari.

Riccardo Spagni

The lead maintainer of Monero (XMR) Riccardo Spagni is popularly known as ‘Fluffypony’ in the cryptocurrency circles. He is stepping down from his current role; however, he will take up as a backup maintainer. Fellow developer Snipa will be taking his position. It is important to note that Spagni has been contemplating this step down for some time, nearly a couple of years.

Two Reasons

The first reason is to decentralize XMR further, and the second reason is to work on the Tari Project.

Most of the decentralized cryptocurrencies identify themselves around one major figure to establish themselves, which is unavoidable. This kind of identification is required because it is essential for further development of the cryptocurrency. ASICs have been at bay for a few years for good after the update of Monero RandomX Update. Therefore, this is quite the right time for Spagni to step further away to help drive Monero towards complete decentralization.

Tari is considering to create a system. The concept of the system will help with the transfer and management of the digital assets emphasizing the non-fungible tokens. The token is purposed for use in a particular way by the creators of the digital assets.

Setting The Condition

The creator of this project will set suitable conditions because the asset will be created and then be transferred to a recipient when the person sends funds. The value of the asset will be equal to the market value of the assets assigned to a particular address.

The Monero site published, “Our goal is to architect Tari in a manner that gives asset issuers meaningful flexibility with the rule sets they create for their digital assets.”

Price Trends

The price of Monero (XMR) soared during the intraday movements. The price of the token climbed up to $47, and the lowest price touched the 90-days low at $44.39. The intraday movement triggered hope among investors. BTC tends to anchor several other cryptocurrencies. Monero price trends work in synchronization with BTC. The price was touching $44.39, and it is currently hovering at $47. Traders are hoping to recover from past losses. And are anticipating some improvement in the price.

The price of the Monero (XMR) is slipping down towards the next support level at $45. And The next resistance level is at $49.64. Monero, in the current scenario, is ideal for long-term investors. The investment will work well if it is held for some time to realize some decent profits.


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