Bitcoin Pioneer Says New Coin To Work on Many Blockchains (bloomberg.com)

A reader shares a Bloomberg report: Jeff Garzik, one of a handful of key developers who helped build the underlying software for bitcoin that is known as blockchain, has seen its shortcomings firsthand. So he decided to create a better digital currency. He's calling it Metronome and says it will be the first that can jump between different blockchains. For example, coins that are used for applications on the Ethereum blockchain will be able to move to Ethereum Classic before jumping onto Qtum or Rootstock, which connects with the bitcoin blockchain, said Garzik. 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, Garzik, co-founder of startup Bloq that created metronome, said in a phone interview. It will be unveiled Tuesday at the Money 20/20 conference in Las Vegas. "Institutional investors should be very excited to see something like this," Matthew Roszak, the other co-founder of Bloq and chairman of industry advocate Chamber of Digital Commerce, said in a phone interview. "We've built a thousand-year cryptocurrency, something that's built to last." That's a concern for many digital currencies. Infighting among developers and various supporters, and the slow pace of enhancements on the bitcoin blockchain have helped to limit use. Both bitcoin and its main rival, ethereum, have split into several versions.

Comments

Same guy causing the problems in first place

[Anonymous Coward]

Isn't this the same guy responsible for all sorts of attacks on bitcoin, all sorts of lame implementations of coins (that fail)... And bloomberg is looking to him to fix things. Gah.

Re: Same guy causing the problems in first place

[mikael]

The reason there was a split with Ethereum and Ethereum Classic was because one had a vulnerability that allowed other people to hack into someone's PC and steal their wallet of coins. Implementing a fix for this problem caused a split in the community. Now they are trying to fix the solution to this problem by creating a new coin that can cross between these networks.