Former Monero Developer Launches New Crypto Mining App Using ASIC-Resistant Hashing Algorithm

Mars Finance News, Riccardo "Fluffypony" Spagni, the former chief maintainer of the privacy blockchain Monero, has launched a new mining application called Tari Universe. The application aims to "democratize" cryptocurrency mining by using an ASIC-resistant hashing algorithm that allows users to mine with ordinary computers. After the recent release of the app, Spagni said his goal was to make mining easier for everyone, "We want to create an experience where technology gradually melts into the background. Tari Universe is about user power rather than suppressing them." Spagni is promoting the L1 protocol despite facing charges of fraud and forgery from his former employer Cape Cookies. In June of this year, a report from Mybroadband stated that Spagni defrauded Cape Cookies of approximately $83,400 between October 1, 2009 and June 8, 2011. However, South African authorities did not take action until August 2021, when they asked US authorities to arrest him. Since his arrest and subsequent transfer to South African authorities, Spagni has maintained his innocence and attempted to have the warrant for his arrest quashed. However, South Africa's Supreme Court of Appeal rejected the request.