BLOQ to launch Metronome: Bitcoin - like Token

Bloq, a leading U.S. block chain technology firm announced the launch of a cryptocurrency named Metronome which has the capacity to manage token supply independently.

Metronome is quite similar to a Bitcoin which can be utilized for various applications like transfer of assets and payments. It also has the capability to operate on several other block chains according to the company.

Matthew Roszak, co-founder and chairman of Bloq, said that Metronome is a foundational cryptocurrency and a payment layer. Metronome has the cross-chain and multi-chain ability to travel between two railroads which are considered as a great innovation and invention of this type of cryptocurrency.

About ten million Metronome tokens will be supplied to the public at a fair price during the initial stage of the service, he added. He also said that Bloq will preserve about two million tokens without expecting any proceeds from the Metronome sales. It will remain intact in the Metronome smart contract system, to offer liquidity to token's market place.

The co-founder and chairman of Bloq said that if an individual decides to purchase a Metronome token, he/she is providing a finance thereby providing liquidity and price support to Metronome token economy. He pointed out that there will be no pre-sale of Metronome tokens to the institutional investors.

According to a report by research firm Pitch book, the company raised a whopping amount of cash from Six Thirty, a global FinTech Venture Fund.