ETC Labs’ Advancement of the Ethereum Classic Protocol Supports Cross-chain Capability for Metronome’s Cryptocurrency
SAN FRANCISCO–(BUSINESS WIRE)–Today, San Francisco based Ethereum Classic Labs partners with Metronome to enable, for the first time, cross-blockchain “chainhop” interoperability. This allows digital assets to be transferred between two of the largest blockchains — Ethereum (ETH) and Ethereum Classic (ETC) and back. The ETC Labs’ advancements to Ethereum Classic (such as the Atlantis hard fork, among other projects), deliver greater compatibility for blockchain solutions, enabling Metronome cross-chain transactions to quickly, easily, and securely occur between ETH and ETC.
“ETC Labs has worked hard to improve Ethereum Classic to provide greater cross-chain interoperability,” said Jeff Garzik, CEO and co-founder of Bloq, chief designer of Metronome, and one of the earliest Bitcoin developers. “ETC Labs’ improvements to Ethereum Classic helps Metronome to provide self-governance, reliability and portability to the global community to store-of-value, payment and transactions across Ethereum and Ethereum Classic.”
As part of the relationship, ETC Labs will support Metronome’s Validator Network to ensure reliable and secure transaction verification that guards against double-spend attacks and provides fluid cross-chain transactions. Metronome’s Validator Network will initially consist of 5+ decentralized, off-chain validators to attest to the validity of transactions and grow its decentralized community.
“We are excited to work with the Metronome team to help initiate its Validator Network, which will first enable movement of Metronome tokens between Ethereum and Ethereum Classic,” said Terry Culver, ETC Labs’ CEO. “The work ETC Labs and the community have done with Ethereum Classic’s open-source protocol has extended that protocol’s value such that projects like Metronome can be confident in Ethereum Classic’s role in the global decentralized community. This will further the adoption of mainstream applications.”
The Atlantis upgrade consists of 10 Ethereum Improvement Proposals (EIPs) that focus on stability, Op-code upgrades, precompiled contracts to improve zk-Snarks, performance related improvements and enhanced security (EIP 658). It also provides features and functionality that will bring it to a similar level as the Ethereum blockchain, reducing development cycles and improving interoperability between blockchains. Read more for additional information of the improvements of the Atlantis ECIP 1054 hard fork.
Launched in 2018, Metronome is a wholly autonomous cryptocurrency built for:
- Usability: Metronome uniquely supports all currency use-cases – store of value, unit of account, and payment mechanism – for both humans and machines;
- Fairness: Nobody holds special privileges or access in the Metronome ecosystem, with all opportunities to purchase Metronome made available to the public; and
- Endurance: Metronome was designed to be the first cryptocurrency to move across blockchains, offering a unique level of digital asset protection.
Learn more at https://metronome.io/.
About ETC Labs
Ethereum Classic Labs’ mission is to accelerate development of the Ethereum Classic community, development and ecosystem. Supported by a core development team to create development tools, interoperability functionality and technology resources, ETC Labs provides blockchain developers the resources necessary to build socially impactful, decentralized applications that are vital to the traditional community core values. ETC Labs is dedicated to providing financial assistance and mentorship programs to advance the development and proliferation of Ethereum Classic solutions. Interested parties can visit https://etclabs.org/ or can follow via Twitter @etclabs.
(c)2018 Business Wire Inc., All rights reserved.
Original Release: Business Wire