Front Gate Coin Developers Launch New Crypto Mining App Using ASIC-Resistant Hash Algorithm
Riccardo "Fluffypony" Spagni, the former chief maintainer of the privacy-focused blockchain Monero, has launched a new mining application called Tari Universe. The application aims to "democratize" cryptocurrency mining by utilizing an ASIC-resistant hash algorithm, enabling users to mine with ordinary computers.
Following the recent release, Spagni stated that his goal is to make mining more accessible to everyone. "We want to create an experience where the technology gradually fades into the background. Tari Universe is about empowering users, not suppressing them," he said.
Spagni is promoting the L1 protocol despite facing fraud and forgery accusations from his former employer, Cape Cookies. In June, a report from Mybroadband alleged 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 requested the US authorities to arrest him.
Since his arrest and subsequent extradition to South African authorities, Spagni has maintained his innocence and attempted to have the arrest warrant withdrawn. However, the South African Supreme Court of Appeal rejected this request.