For quite some time, you must be hearing about various, previously-unheard terminologies such as Blockchain, Cryptocurrency, Bitcoin, Ethereum, and Bitcoin cash. Now it’s time to add one more term to the list. Or, in other words, the world is about to witness another addition to the digital currency industry.
The leading blockchain technology company – Bloq recently announced the launch of upcoming MTN or Metronome, which will be the first ever cross-blockchain cryptocurrency in the world.
This currency is called the next-generation cryptocurrency which boasts an autonomously managed and predictable token supply. It has been built for payment and transactional use.
The expected launching date of this first-ever cross-blockchain currency is December 2017. While many people are still unaware of this, the currency is actually developed by renowned pioneers and technologists in the Blockchain industry.
The Vision of Metronome
Metronome actually emerged from the vision of the cryptocurrency novel which could provide both multi-generation longevity and immediate utility. However, in order to achieve this vision, the currency is built in accordance to three basic design principles:
The tokens of metronome currency will be managed by its community of users, and the system will be managed by autonomous smart contracts. Moreover, there will not be any third party having any sort of special privileges either in the MTN marketplace or within the system.
The novel cryptocurrency is architected to give rapid discovery or market price, prioritize predictability and also to create a steadiness in the token supply of MTN over time.
The capability of Metronome – the first cross-blockchain cryptocurrency – utilizes the proof-of-exist receipt which enables the users to switch from one blockchain to the other. First, there will be an issuance of MTN token at the Ethereum network. Hence, Bitcoin or Rootstockm, Ethereum Classic and Qtum support is more likely to follow. Eventually, this will enable the users to choose the Blockchain which will fulfill the requirements for security and governance, or even to upgrade their contract of MTN, if needed.
According to the co-founder of Bloq – Matthew Roszak, individuals will be empowered by the currency which is designed with self-governance in mind. Likewise, it will be easy for the institutions to enter confidently into the cryptocurrency industry. This is because metronome will help them in innovating and developing innovative financial products.
The currency is expected to be highly resistant to governance failure and it is hoped that this will last for a long time – up to many generations.
Nonetheless, Bloq is a well-reputed Blockchain technology company that provides enterprise-grade services, software and support by means of its BloqThink and BloqEnterprise suite of solutions.
The company holds substantial expertise in terms of Blockchain developer, investors, and even entrepreneurs. Similarly, BloqLabs also originates, supports and sponsors innovation in decentralized networks and applications.
At the upcoming launch of the first ever cross-blockchain currency, the first supply of almost ten million Metronome tokens will be issued, and almost 8 million of these MTN tokens will be sold in the DPA.