Buy Metronome Digital Currency
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On June 26 at 5:48 p.m. US Eastern Daylight Time, the Metronome cryptocurrency activated the unique capability to "chainhop" across blockchains. The first chainhop was between the Ethereum and Ethereum Classic blockchains. The team is building chainhop support for the QTUM and RSK chains and is actively researching EOS and Cardano. (Graphic: Business Wire)
The Metronome team continues to explore new chainhops and has made significant headway for launch on other networks, such as QTUM and RSK, and conducting further research on EOS and Cardano. This expands user choice and the overall potential for the currency.
A currency that has a finite supply will only get more valuable as its usage becomes more ubiquitous. Therefore, once all 21million Bitcoins are in circulation, we would likely see people choosing to hoard their Bitcoin rather than spend it, as they see nothing else that is of equal or greater value to trade for the finite digital resource.
There was a feeling in the air at the Token Summit similar to the dot-com boom, when many optimistic entrepreneurs piled onto a new technology hoping to cash in with me-too ideas. At this early stage, crypto appears to be one of the biggest speculative bubbles in decades or the unregulated global currency of the future. I believe it will probably be both, but I was warned to treat this Wild West of cowboy currency with an open mind.
All the valuation hype, combined with an increasing interest from mainstream investors, means there are sure to be some implosions. More than $2 billion has been raised by 700-plus companies in the digital currency area this year alone and there are now over 900 cryptocurrencies, according to CoinMarketCap.com, up from 800 in October. This summer, the SEC said that ICOs are subject to federal securities laws, although it did not bring any charges against Slock.it, the decentralized group of DAO token creators it was investigating.
While the conference had many panels on hot topics, many of the sessions were a way for young companies to tout their upcoming ICOs, the largely unregulated sale of new digital currencies, typically in exchange for bitcoin. On Tuesday, as MarketWatch attended Token Summit, the price of bitcoin topped $12,000, giving it a market cap of $200 billion after the price soared more than $6,000 in the past month.
As new digital coins and other enabling tech was discussed in panel discussions or brief presentations, quirky symbols representing companies or open-source projects sometimes appeared on the big screen instead of a company name, such as an x with a zero symbol under Will Warren, the chief executive and co-founder of the 0x open protocol project.
Past token offerings and future sales were a constant theme. The co-founders of Bloq are developing another digital coin called Metronome, which will be capable of operating on other blockchains, the digital ledger that stores all the crypto transactions. The private company, based in Chicago, has plans for an auction of Metronome tokens, instead of an ICO, in early February.
OB1 will offer an OpenBazaar token for merchants on its platform that will serve as rewards, while still using bitcoin as its core currency on its commerce platform. Hoffman called it eBay EBAY, +0.64% without the eBay.
However, the most prominent include storing value across platforms powered by distributed ledger technology (DLT). Additionally, apart