Metronome Now Lets Users Move Tokens Between Blockchains

The developers of the Metronome project announced activation of the cryptocurrency's cross-blockchain capability following successful test transfers of MET tokens from the ethereum blockchain to the ethereum classic blockchain and back.

After the chainhop capability was activated, beginning with ethereum blockheight #8,036,077 on June 26, the company initiated the first non-test chainhop of MET between ethereum and ethereum classic.

One small step for MET. Import and export algorithms, equivalent to burn and minting events, enable tokens to jump to and fro between sets of Metronome smart contacts while maintaining the original source supply.

"'Decentralization' is an article of faith within the blockchain industry" he wrote in a blog post, yet "One species of centralization that our industry has become comfortable with is the notion that a digital asset must be forever tied to its blockchain ledger."

Metronome is attempting to further the tenet of blockchain decentralization by eliminating chain permanence.

Autonomy was a foundational principle for the company, which boasts of "Zero founder control." Four smart contracts oversee the governance of the system, including the allocation and distribution of new tokens, a contract to move funds between accounts, and systems that regulate supply and liquidity.

The system is set up to mint 2,880 MET per day, which will now fluctuate between the ETH and ETC chains guided by smart contracts that monitor global supply and demand.

The Autonomous Converter Contract -used to purchase tokens on ethereum - will have a mirror ACC on ethereum classic.

The validation procedure enabling this process to mainnet began approximately 48 hours ago, when the company deployed a "Lilypad" on the ethereum classic chain that users can hop on.

After sending tokens over to ETC, during the first non-test case, company representatives waiting in ecstacy for the coin to become transferable.