Metronome: Jeff Garzik's cross-blockchain crypto

Bloq, Jeff Garzik's startup, is to launch a cross-blockchain cryptocurrency that will address Bitcoin's deficiencies 
25 October 2017   3433

A former core developer of Bitcoin and now Bloq CEO, Jeff Garzik, unveils Metronome (MTN), a cryptocurrency that seeks to claim a series of firsts in crypto-economics, including offering users the ability to switch the same token back and forth between blockchains as desired, making Metronome the world’s first cross-blockchain cryptocurrency.

As detailed by the company, Metronome is to be initially issued on Ethereum, with Ethereum Classic, Rootstock and Qtum support expected to follow. This allows users to select the chain that suits their requirements for management and security, or even upgrade the MTN contract if needed.

With Metronome, we sought to design an autonomous cryptocurrency system that is highly resistant to governance failure and is intended to last for generations. 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.
 

Jeff Garzik
CEO and co-founder of Bloq

Furthermore, Metronome will not be controlled by any party after launch - not even its authors - as it is completely autonomous. Thus, Bloq plans to continue to help by building an ongoing open-source community to support developers and users, but will have no access or control after the initial auction.

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.
 

Matthew Roszak
Co-founder and chairman of Bloq

Metronome is opening with an initial auction of 10 million MTN, with 8 million MTN being made available to the public and 2 million being set aside for Bloq as the principal development team.

Bloq, in its turn, is moving ahead on the launch of the token, setting a date for the first week of December for its token sale.

Switcheo to Launch Cross-Chain ETH-NEO Atomic Swaps

Developers says that the technology of atomic swaps has been known for few years, but is not popular, since its implementation in practice is quite complicated
25 April 2019   55

Switcheo announced the official launch of the atomic swaps feature for the Ethereum and NEO blockchains.

From now on, Switcheo users have access to the inter-block exchange of their own token exchange, SWTH and ETH, which allows for the transfer of assets between two markets represented on the trading platform and makes Switcheo the first decentralized exchange that implements this functionality.

A challenge with existing trustless exchanges is that trades are confined to individual blockchains, limiting the market combinations that can be offered to users” says . With the launch of the new feature, users can now trade conveniently between ETH and NEO markets, while retaining full custody of their funds.
 

Ivan Poon

CEO, Switcheo

According to the developers, the technology of atomic swaps has been known for several years, but is not widely used, since its implementation in practice is quite problematic. Switcheo lead developer John Wong explained that his team spent a lot of time adapting the process to the user's needs and achieved the desired result.