What Is Metronome (MET)?
Metronome is an autonomous cryptocurrency designed to bring institutional-class endurance to the cryptocurrency category through three core principles viz. self-governance, reliability and portability:
Self-governance - Metronome is designed to function perpetually by a group or individual, even its authors, without management.
Reliability - The network is built for steady and predictable token supply through descending auctions. The price is progressively lowered in descending auctions until a bidder accepts the current price.
Portability - Metronome can move between blockchains; the cryptocurrency is further protected from management issues and instability.
Metronome acts as a store of value that is decentralized across blockchains. As MET can move between blockchains, it will empower users to move MET for whatever reason they desire. MET also allows for automatic subscriptions or recurring payments on the blockchain. This ensures that MET users can schedule repeat payments easily. Also, to ensure security and transfer, MET uses custom functionality.
Furthermore, Metronome comprises autonomous and cooperative smart contracts:
Metronome LedgerERC20- The token’s smart contract ledger dictates how the token behaves.
Auctions Contract: This smart contract operates the descending price auctions while interacting with the aforementioned ledger contract. Rules are set for the initial supply auction and the daily supply lot.
Proceeds Contract supports the supply by holding 100 percent of the daily supply lot (DSL) and transferring 0.25 percent of the total accumulated balance to Autonomous Converter Contract every day.
Autonomous Converter Contract allows users to sell their MET for ETH or ETH for MET.
History of Metronome (MET)
The Initial Supply Auction serves as the official launch of Metronome. This happened on June 18, 2018, at Midnight UTC. 10,000,000 MET tokens were issued and made available at the initial supply auction.
Jeff Garzik#### is the co-founder of#### Metronome#### . He is a blockchain developer and Bitcoin Enthusiast at blockchain.#### Matthew Roszak#### is the co-founder of MET. He is a leading blockchain investor, entrepreneur, and advocate.
