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METRONOME COIN – A CRYPTOCURRENCY TO EXPLORE IN MID-2018!

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Metronome (MET) cryptocurrency is launched to bring great challenges to existing cryptocurrency categories. The three major design principles of Metronome coin include self-governance, reliability and portability. Metronome is created by “Bloq”, a blockchain technology company known for its enterprise-grade software – including the BloqEnterprise and BloqThink suite. The company includes a team of blockchain developers, entrepreneurs, and investors.

Whenever a new coin hits the market, a lot of things buzzes in our mind and one common thing everyone will be looking forward is what Metronome can do those other cryptocurrencies cannot? Cross-chain export and import of MET will provide efficient failure recovery by quickly migrating from one blockchain to another. Also on automatic blockchains, MET provides recurring payments and subscriptions which other cryptocurrencies cannot provide.

8,000,000 MET tokens (10 million, less the 20% one-time author retention) will be available for sale to the public with a “descending price auction”. Initially, the starting price will be fixed as a maximum of  2 ETH per MET and floor price of 0.0000033 ETH.

Also, MTN will also be minted daily, again through public descending price auction. The daily minted volume will be either 2880 MTN per day, or an annual rate equal to 2% of the then-outstanding supply per year.

Now let’s check what are the components of Metronome Coin. Metronome is comprised of four fully-autonomous and cooperative smart contracts.

1.Metronome Ledger ERC20 – This the smart contract ledger of the token.

  1. Auctions Contract – This smart contract interacts with the above-discussed ledger to form the rules for the descending price auctions.
  2. Autonomous Proceeds Provider (two contracts) – Automatically provides supply between MET and ETH.

It comprises of the two contracts:

  • Proceeds Contract
  • Autonomous Converter Contract

Now What blockchains are MET compatible with?

Initially, as per the sources Metronome will be initially issued on Ethereum with Ethereum Classic, Rootstock, and Qtum. As the development continues we can hope that it will become compatible with many even more blockchains.

Though Metronome coin was launched as a cryptocurrency that will run for 100’s of years, there are certain risks involved with MET. These include chain dependence problems like chain mutability and Contract attacks which can be either technical or economical. Unique features like instead of founders users are in full control of the future development of Metronome. Bloq, the founders of Metronome, will have no control after the initial launch.

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