There are many new crypto-currencies being launched every month, with over a thousand already in existence. This can lead to risks for investors and wild swings in price. Also, crypto-currency users who want to jump from one digital currency to another have to go to an online exchange where they can sell their digital currency and buy another one. The process can be complicated and requires exchange fees.
Bloq’s Metronome (MTN) aims to address these issues by make switching between digital currencies fast and easy.
As Metronome can jump between different blockchains, Metronome users can also move their holdings, and will no longer be at risk of infighting among crypto-currency developers. It will also protect them from threats from forks and splits.
Metronome will first be issued on Ethereum, and will gradually expand to the other main crypto-currencies.
Over several days in December 2017, eight of the ten million initial Metronome tokens will be auctioned off, while the remaining two million Metronome tokens will be retained by Bloq to support the new currency. Bloq will not receive any Ethereum proceeds from the auctions.
According to Bloq, the new currency cannot be subverted by hackers.