It seems B2X developer Jeff Garzik has been busy developing his own cryptocurrency called Metronome, a development he shared while speaking with Bloomberg today.
Jeff Garzik is not new to blockchain development, as he was one of Bitcoin’s core developers, and was recently placed at the helm of B2X’s development.
According to him, there is a major issue these days with infighting and disputes among developers supporting different blockchains, leading to forks, as we have seen in the case of Bitcoin and Ethereum.
A fix for this problem, says Jeff, is a coin that can move between different blockchains, effectively surviving any drastic changes and not being limited to any one of them.
Metronome, the currency he is developing through his co-founded startup, Bloq, has the potential to do exactly this.
“The mobility means that if one blockchain dies out as the result of infighting among developers or slackened use, metronome owners can move their holdings elsewhere. That should help the coins retain value, and ensure their longevity,” said Garzik.
Speaking on the development, Matthew Roszak, Jeff Garzik’s partner in Bloq, said:
“Institutional investors should be very excited to see something like this. We’ve built a thousand-year cryptocurrency, something that’s built to last.”
Metronome will be making its debut today, at the Money 20/20 conference in Las Vegas and the auction will start in December. However, the company and developers will be keeping 2 million of the 10 million coins that will be auctioned – something that will definitely not sit right with the community.
Presently, the comments on Reddit indicate disappointment with Jeff for spending time on Metronome when he should be working on B2X, which itself is embroiled in controversy.
Jeff however, seems optimistic about Metronome’s prospects, as he sees it as a coin that will allow users to skip through the hassle of exchanging one cryptocurrency to another in order to utilize a different blockchain and its benefits.