Bloq Announces Metronome: World’s First Cross-Blockchain Cryptocurrency

Share with:

Bloq, a leading Blockchain technology company, today announced the upcoming launch of Metronome (“MTN”), the world’s first cross-Blockchain cryptocurrency. Metronome is a next generation cryptocurrency with a predictable and autonomously managed token supply, built for store-of-value, payment and transactional use cases. Metronome is expected to launch in early December 2017.

Developed by renowned technologists and pioneers in the Blockchain industry, Metronome emerged from a vision of a novel cryptocurrency that could provide both immediate utility and multi-generational longevity. To achieve this vision, Metronome was built according to three key design principles:

  • Self-Governance: MTN tokens will be managed by its user community, with the system managed by autonomous smart contracts. There will be no third party with any special privileges either within the system or in the MTN marketplace.
  • Reliability: Metronome was architected to provide rapid market price discovery, prioritize predictability and provide a steadiness to the MTN token supply over time.
  • Portability: Metronome’s cross-Blockchain capability uses a proof-of-exit receipt when users leave one Blockchain, which enables them to enter another. The MTN token will be issued first on the Ethereum network, with Ethereum Classic, Rootstock on Bitcoin and Qtum support expected to follow. This will allow users to select the Blockchain that suits their requirements for governance and security, or even upgrade the MTN contract if needed.

Upon launch, an initial supply of 10 million MTN tokens will be issued, with 8 million MTN tokens sold in a descending price auction (“DPA”) for Ethereum’s ether currency (ETH). Each day thereafter, new MTN tokens will be sold in a DPA at the rate that is the greater of 2,880 MTN per day, or an annual rate equal to 2.0000% of the then outstanding supply per year, providing a predictable supply over time. 100 percent of the ETH proceeds from the initial and daily auctions will remain within the Metronome smart contract system to provide liquidity to the MTN marketplace. Bloq will retain a 2 million MTN author retention, and will not receive any ETH proceeds from the auctions.

For more information, and to download the Metronome Owner’s Manual, please visit metronome.io.

“With Metronome, we sought to design an autonomous cryptocurrency system that is highly resistant to governance failure and is intended to last for generations,” said Jeff Garzik, CEO and co-founder of Bloq, chief designer of Metronome, and one of the earliest Bitcoin developers. “To accomplish this, we recognized early on that allowing users the freedom to select which Blockchain most closely aligns with what they value was not only an important feature, but a vital one if we were to realize the Metronome vision.”

“We believe that individuals will be empowered by a currency designed with self-governance as a first-order variable. Further, institutions can more confidently enter the cryptocurrency category, as Metronome will enable them to innovate and develop reimagined financial products.” said Matthew Roszak, co-founder and chairman of Bloq.

“We believe that individuals will be empowered by a currency designed with self-governance as a first-order variable. Further, institutions can more confidently enter the cryptocurrency category, as Metronome will enable them to innovate and develop reimagined financial products.” said Matthew Roszak, co-founder and chairman of Bloq.

Bloq is a leading Blockchain technology company, providing enterprise-grade software, services and support through its BloqEnterprise and BloqThink suite of solutions. Bloq is led by a world-class team of Blockchain developers, entrepreneurs and investors. BloqLabs originates, sponsors and supports innovations in leading edge decentralized networks and applications. For more information, please visit bloq.com, and follow us on Twitter: @bloqinc.

  • Bloq Announces Metronome: World’s First Cross-Blockchain Cryptocurrency – October 24, 2017
  • Charity Meet & Greet with Ronaldo Auctioned for Bitcoin – October 24, 2017
  • Bitcoin Nonprofit BITGIVE Launches GiveTrack Beta at Money2020 – October 24, 2017
  • Blockchain LegalTech startup Agrello partners with online-id verifier Veriff – October 24, 2017
  • Under 1 in 10 Post-ICO Tokens are Actively Used – October 24, 2017
  • Grid Foundation unveils an Enterprise ‘Cloud Operating System’ for All Blockchains – October 23, 2017
  • Cashaa welcomes Central bankers, MIT scientists and Fortune Top 500 Leaders for its CAS token sale – October 23, 2017
  • Sun Exchange Raises $1.6 Million Seed Investment to Catalyze Global Shift to Solar Power – October 22, 2017
  • Brickblock And Nakamo.to Announce Partnership To Fuse Real-world Asset Trading With The Potential Of IOTA’s Tangle Network – October 22, 2017
  • Wirex inks deal with SBI Holdings to establish Asia focussed joint venture – Japanese cryptocurrency payments card expected soon – October 22, 2017
  • CrowdWiz successfully raises over $5 million in its pre sale to bring democracy to investing by cutting out the middleman – October 22, 2017
  • Soma – launches ICO to tackle marketplace fraud and disrupt the $1.7 trillion global second-hand goods industry – October 22, 2017
  • LiveEdu.tv Launches ICO and Announces Presale – October 22, 2017
  • Yetta announces ICO of European Commission funded Blockchain Research and Development – October 22, 2017
  • Pulsar Venture Capital Holds ICO to Raise Money Using Blockchain – October 19, 2017
  • Dash Expands Reach In Asia Through Cooperation With Rising Fintech Company QUOINE – October 19, 2017
  • Hacken and Neuromation Partnership Launched to Stomp out Blockchain Cybercrime – October 19, 2017
  • Playkey Brings in $1 Million in Pre-Sale Campaign and Welcomes Dillon Seo as VR Advisor – October 19, 2017
  • SolarCoin Founders Introduce New Blockchain-Based Network for Global, Decentralized Energy Trading – October 19, 2017
  • Kazakhstan’s Lendex.io plans ICO in early 2018 – October 19, 2017
  • Swissborg – The Blockchain Era of Swiss Private Banking – Announced ICO – October 19, 2017
  • Bank4YOU Group’s launches ICO end of October – Investors Call to Action – October 19, 2017
  • Live Pre-sale of Trive: Fights Fake News Using Cryptocurrency and Crowdsourced Research – October 19, 2017
  • A New Ozone Layer? Arcona Plans for Augmented Reality Layer to Cover Earth Surface in new AR project – October 19, 2017
  • Cofound.it Introduces Seed Program for Early Blockchain Startups – October 19, 2017
  • LOOMIA Announces Collaboration With Storj Labs, Introduces Smart Fabrics and Consumer Data to Blockchain Technology – October 19, 2017
  • DECENT Launches Beta Release of DECENT GO, The First Decentralized Marketplace for Digital Content – October 19, 2017
  • Orebits Corporation, Inc. Announces Orebits Pool, LLC and Orebits.AU Eco-System – October 19, 2017
  • Pareto – the Peer to Peer Financial Content Marketplace Announces Token Sale – October 19, 2017
  • Appsolutely Launches the LoyalPlatform, LoyalCoin and LoyalWallet; Using Blockchain to Usher in the New “Loyalty Economy” – October 19, 2017
  • Eidoo Raises $27.9m In Successful ICO To Bridge The Cryptocurrency Gap And Open The World Of Digital Currencies To The Masses – October 19, 2017
  • Malta-based RoboAdvisorCoin (RAC) Launches Token Sale for Robo-Advisor Dedicated to Cryptocurrencies and Digital Assets – October 19, 2017
  • BLOCKv Announces the Availability of VEE Tokens Through Its Upcoming Token Generation Event – Open to Public on October 19, 2017 – October 19, 2017
  • The Fundchain initiative starts again this year with new Research & Development roadmap for the investment fund industry – October 19, 2017
  • Digital Cryptocurrency Vault DigiPulse Reaches $1 million in Token Sale – October 19, 2017
  • Tickets Cloud Kicks off crypto.tickets ICO – October 19, 2017
  • Ex-JP Morgan Vice President Dr Joseph Chen-Yu Wang Joins Ambrosus as Project Manager – October 19, 2017
  • Russian Wood for Cryptocurrency – Timber! – October 19, 2017
  • Proof Suite Announces Token Sale for Blockchain Platform Designed to Tokenize and Insure Real World Assets – October 19, 2017
  • DataWallet Announces Blockchain-Based, Consumer-to-Business Data Exchange – October 19, 2017
  • IEEE Releases Findings from First Detailed Study of Blockchain Adoption in the Pharmaceutical Enterprise – October 19, 2017
  • Horizon State Launches Token Sale to Modernize Global Voting and Collaborative Decision Making – October 19, 2017
  • Metaps Plans to Launch Time Marketplace ‘Timebank’ Token Sale on COMSA – October 19, 2017
  • Lykke Vanuatu brings Binary.com tokens to Lykke Vanuatu Exchange – October 19, 2017
  • After raising $15M in a pre-sale, BitClave is ramping up for its Nov 8 crowdsale, and its plans to redefine the search experience – October 19, 2017
  • Kazakhstan Is About To Launch The First Cryptocurrency, Directly Backed By Fiat Money – October 19, 2017
  • Positive.com launches to protect Initial Coin Offerings from cyber attack – October 19, 2017
  • Latium Launches LATX Cryptocurrency Token Sale for Participation in AI-Based Tasking Platform – October 18, 2017
  • IBM Announces Major Blockchain Solution to Speed Global Payments – October 18, 2017
  • Launch of SMSCHAIN, a Blockchain-based SMS Gateway – October 18, 2017

View All Articles

advertisementBlockchain Expo