Bitcoin Pioneer Launched New Cryptocurrency

26 Mar

Startup Bloq’s new digital currency, Metronome (MTN) took park last December, for investors and merchant’s attention to more than 1,000 other similar tokens.

However, Metronome guarantees to be distinctive that it is a cross-chain cryptocurrency. This means it can be changed over to different digital currency without incurring transaction fees due to overcrowded systems. It is also sponsored by street credential in the name of Jeff Garzik, Bloq’s co-founder and a Bitcoin pioneer.

Metronome was launched toward the beginning of December a year ago with an auction of 10 million coins. The creators will be issued two million coins from that batch as pay for their work in creating the software. In this way, the cryptocurrency plans to issue 2,880 new coins every day.

In accordance to the American Banker’s calculation, this should empower the currency to achieve a supply of over 30 million in the next 20 years. The expansion in supply ought to have the impact of tamping down the currency inflation. Garzik and his group have computed an inflation rate of 10% for the first year and 5% the year after. The inflation rate will continue to decrease until it reaches to 2% amid its 35th year. That figure will stay consistent for the “following thousand years,” said Garzik.

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