Metronome, an up and coming cryptocurrency, recently added the option to transfer the cryptocurrency from blockchain to blockchain. The support is limited to a few blockchains currently, including Ethereum Classic and Ethereum, with expanded support headed to RSK and QTUM in the near future. Cardano and EOS are also on the development horizon.
This mark’s the very first cross-blockchain capability, allowing users to transfer tokens from one blockchain to another and back again if necessary. The feature is available for everyone that uses Metronome and could lead to a permanent cryptocurrency stability solution in the future.
Prior to the Metronome update, cryptocurrencies were limited to their own, original blockchains without the possibility of being transitioned to a new blockchain. By thinking of blockchains as a platform for containing all cryptocurrencies rather than being the sole platform for each cryptocurrency, Metronome’s update is changing the way that cryptocurrency is seen.
When transitioning from one blockchain to another without Metronome’s feature, a cryptocurrency needs to be exchanged for the cryptocurrency on the new blockchain. That can lead to financial loss depending on the market. If the blockchain isn’t performing as expected and a switch is needed, Metronome’s upcoming expansion will allow users to easily change blockchains without the need to exchange cryptocurrencies.
It also enhances security and stability. If a cryptocurrency is anchored to one blockchain without the option to transition to a new blockchain, any compromise in the blockchain can lead to total financial loss.
The feature is currently available in the Metronome wallet for both desktop and mobile, making it simple to start transitioning your cryptocurrency across blockchains. Metronome launched in 2018 and has quickly become a leading cryptocurrency and blockchain developer. Metronome stated that updates for additional blockchain access will be announced in the near future.