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   2045

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.

Ethereum Scaling Solution Raiden to Launch Last Testnet

As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second
20 July 2018   132

On Thursday, July 19, at the Dappcon developer conference in Berlin, the last test network of Raiden for the Ethereum blockchain was launched, CoinDesk reports.

The release includes a minimal implementation of the scaling solution, which will allow the transfer of Ethereum tokens outside of the main blockchain. This is the last test phase before the introduction of technology into the core network of Ethereum.

It's the first step towards going to the mainnet. We really want people to really test this so we have a user interface, we have an API and we've created an open Github for everything they could find, so if we go hopefully bug-free on the mainnet.
 

Lefteris Karapetsas

Core Developer, Raiden

According to him, the new release represents an early implementation for the core network and contains a new rewritten code of smart contracts and payment channels that can be restored in case of unintended closure.

Also, Karapetsas urged developers to join the test network to help detect possible bugs, adding that a bounty program will be launched to encourage this activity.

The release date for the main network has not yet been assigned, but the developers intend to follow this earlier promise and launch Raiden this summer.

Karapetsas also promised to publish regular updates and code optimizations after the full release, adding that Raiden will complement other Ethereum scaling solutions that are currently being developed.

Raiden is essentially the payment channel network for ethereum, it's supposed to help us scale token transfers. The long term goal would be to have people use Raiden from a mobile device and be able to make off-chain token transfers just from their phone. That would be the long term vision, it would probably work in combination with various scaling solutions, sharding, plasma, a sort of hybrid.
 

Lefteris Karapetsas

Core Developer, Raiden

Raiden is developing from the 2015 and is written mostly on Python. The project is much like the Lightning Network. As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second.