On Tuesday, Bloq — a crypto firm co-founded by SegWit2x developer Jeff Garzik — announced that it is developing Metronome, a cross-blockchain cryptocurrency that will be distributed through a December initial coin offering (ICO).
Garzik says that, among other things, Metronome addresses “existential threats, from forks” and “developer drama” because its smart contracts ecosystem will allow users to make transactions across blockchains and retain the value of their holdings even if an underlying blockchain is compromised.
The announcement comes less than one month before the scheduled date for the SegWit2x hard fork, a Bitcoin protocol “upgrade” that is the subject of contentious debate within the cryptocurrency community. Unsurprisingly, SegWit2x opponents had much to say about Metronome — and the timing of its release.
OpenBazaar project lead Brian Hoffman — a former SegWit2x proponent who still supports on-chain scaling — commented that it was “kind of odd” for Garzik to announce an ICO right before SegWit2x is scheduled to activate. “I’ll take stupid times to launch a new coin for $500, Alex” he tweeted.
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