Just about two years ago, Jeff Garzik and I surveyed the cryptocurrency landscape of the time. We saw an explosion of innovation as the cryptocurrency world continued its flight path towards new and novel decentralized money systems. Observing the ecosystem’s successes and failures, we asked: “What would a cryptocurrency from a blank slate look like if it had the benefit of all these lessons?”
We got to work, thinking through governance, protocols, tokenomics, and usability. We iterated, stuck a pin in some ideas, shelved so many more, and ultimately identified a few key design principles we thought the ideal (crypto)currency needed:
Self-governance: Teams and foundations should not dictate how a protocol works post-launch;
Reliability: A programmatic and predictable supply curve enables users to plan for the future; and
Portability: Owners should be able to migrate and secure their cryptocurrency on their blockchain network of choice.
The result was Metronome.
Yesterday, the Metronome team delivered on the promise of that third design principle, Portability. Contracts deployed on Ethereum Classic ($ETC) will allow the Metronome community to move their $MET from Ethereum to Ethereum Classic and back, should they so wish.
Giving users a choice as to where their token resides is an entirely new dimension in crypto, and plays directly into the notion of “being your own bank” – with Metronome, users can exercise more choice in where they want to be their own bank.
Matthew Roszak is co-founder and chairman of Bloq, Inc.