Blockchain is a digital ledger of transactions that has underpinned bitcoin, the original digital currency. Metronome is a bitcoin-like token that upon its launch in early December can bloq bitcoin news used immediately for a slew of applications such as payments and transfers.
It can also run on different blockchains, unlike other tokens, the company said. Matthew Roszak, co-founder and chairman of Bloq, said in an interview with Reuters. How is it different from bitcoin or ethereum? That’s a really big innovation and invention of Metronome. Upon the launch in December, an initial supply of 10 million MTN tokens will be issued, with 8 million MTN tokens sold to the public in a descending price auction for Ethereum’s ether currency. The idea for the auction is to manage supply, Roszak said.
Bloq will keep 2 million of the tokens. Roszak said the company will not receive the proceeds of the MTN sale. They will remain within the Metronome smart contract system to provide liquidity to the token’s marketplace. When you buy a Metronome token, you are funding a savings contract that will provide liquidity and price support for the Metronome token economy. The Bloq executive also pointed out that unlike other token offerings, there would be no pre-sale of the tokens to institutional investors prior to the December offering. It’s going to be a fair auction.
250,000 of venture funding from Digital Currency Group and Tally Capital in February 2016, Pitchbook said. The Thomson Reuters Trust Principles. All quotes delayed a minimum of 15 minutes. A cryptocurrency project seeking to chart a new course for bitcoin has officially launched, though the project is not yet live.
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