Jeff Garzik, Formally Launched an Altcoin, Dubbed Metronome
Jeff Garzik, is among the first Bitcoin developers. The Bloq co-founder unveiled Metronome (MET), a cryptocurrency he founded alongside Matthew Roszak, at the Las Vegas Money 20/20 conference in late Oct. 2017 when the cryptocurrency market was in the early stages of a parabolic fourth-quarter rally.
What makes Metronome interesting is that it promises its users cross-chain portability. It also purports to offer a consistent rate of inflation and “no undue influence from founders after launch.” These three promises Metronome’s mantra of self-governance, reliability and portability.
According to Garzik “Nowadays, bitcoin faces existential threats from forks, developer drama and so forth. Understanding what we know and using a fresh sheet of paper, we asked what would we build and the reply is that. ”
Unlike most first coin offerings (ICOs), metronome has been distributed via a descending price auction, which means that the crowdsale cost declines over time until no more tokens are remaining. Developers argue that this will reduce FOMO-driven purchasing and aid with price discovery.
Get Bitzamp Latest Update By Downloading our Mobile App: Bitzamp – Cryptocurrency News – Apps on Google Play
Join Us On Telegram