Jeff Garzik Builds “Thousand Year Cryptocurency”

One of the key developers to work on Bitcoin in its earliest days, Jeff Garzik, has announced plans to launch a new “cross-blockchain” cryptocurrency. The move comes as a response to the perceived shortcomings of existing fixed-blockchain coins. Announced Tuesday at the Money 20/20 conference in Las Vegas, the project is known as Metronome. It seeks to be the first cryptocurrency able to jump between different blockchains, potentially eliminating the need for exchanges when the average user seeks to use multiple platforms.

By allowing users to switch the blockchain on which their tokens are stored, the hope is that Metronome will be able to avoid some of the issues which affect existing projects. In a telephone interview with Fortune, Garzik explained:

Today, bitcoin faces existential threats from forks, developer drama and so on. Knowing what we know and having a clean sheet of paper, we asked what what would we build and the answer is this.

Garzik, along with Matthew Roszak, chairman of industry advocate Chamber of Digital Commerce, founded Bloq, an enterprise-level blockchain solutions company. Bloq subsquently went on to create Metronome. Their plan is to make the coins available on the Ethereum blockchain sometime in December. They will then launch support for additional blockchains early 2018.

The initial distribution of Metronome tokens will consist of a smart-contract-driven, reverse auction. The sale will take place over several days. Bloq, and others involved in development, will hold back 20% of the total ten million coins that will be sold. The reverse auction is hoped to allow more people the opportunity to own the token. The idea being that high-capital buyers won’t be able to immediately swoop in and buy up all the Metronome available.

According to Garzik, the coding of Metronome has been “battle tested” by some of the best minds in the industry. He claims it to be immune to subversion by hackers. The distribution method being entirely built using smart contracts, the project will need to be flawless to avoid a similar fate as the infamous Ethereum DAO hack.

Garzik is confident that his coin will be immune to many of the potential attack vectors which individual blockchains are currently exposed to. He claims that it’s been built to seek stability meaning that Metronome’s success will not be determined by the fate of a single blockchain:

When existential threats hit, it will automatically switch to somewhere safer.

His colleague Roszak told CNBC via phone interview that he believed institutional investors will find Metronome appealing. He went on to claim: “We’ve built a thousand-year cryptocurrency, something that’s built to last.”

Image: TakeLessons

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The blockchain analytics platform, Skry has been acquired by Bloq. With the new acquisition, Jeff Garzik’s company dealing with enterprise grade blockchain solutions stands to strengthen its existing suite of analysis tools.

Bloq announced the acquisition of Skry, formerly known as Coinalytics in its latest press release. According to the release, the deal was closed on February 24, 2017, making it the company’s first ever acquisition. As a part of the deal, Bloq stands to gain Skry’s intellectual property as well as the team that worked on creating it.

In a statement, the CEO and co-founder of Bloq Jeff Garzik said,

“Blockchain networks need more than a rudimentary finder or explorer. We’re ensuring that enterprises won’t have to ‘fly blind’ without a complete understanding of the performance, economics, and irregularities of their underlying networks.”

Skry’s products will help Bloq to enhance the value of blockchain data sets using artificial intelligence and machine learning. It will assist the company in furthering its mission to build and scale blockchain networks for the use of global companies. The technology created by Skry will enable Bloq’s clients to monitor their blockchain set up by gathering, visualizing and analyzing the distributed ledger data from multiple sources.

Regarding the acquisition, Skry’s former CEO and Co-founder Fabio Federici was quoted in the press statement saying,

“Bloq is one of the few blockchain software companies with a comprehensive vision for what enterprise customers need to launch and manage blockchain networks and applications. Its team stressed interoperability and pain strikingly engineered its technology from day one to be blockchain-agnostic. I’m excited to have Skry be a part of that future.”

Bloq’s services will come in handy for many companies, banks and financial institutions that are involved in the development of blockchain applications. They can make use of the blockchain analytics service to monitor their platforms and safeguard them from DDoS attacks, a spike in transaction fees and other block dynamics that might otherwise affect the operations.

While the information about the terms and cost of the acquisition remains confidential, Bloq’s latest milestone follows its earlier one where it co-launched Vulcan Digital Asset services in association with PwC Australia.

As Bloq continues to strengthen its portfolio, it will soon emerge as a leader in offering custom, tailor-made blockchain services to suit the requirements of every possible industry.

Ref: Press Release | Image: Bloq

The enterprise level distributed ledger technology solutions provider Bloq has waded into the deeper waters of blockchain technology by announcing its very first product, a truly enterprise level product called BloqEnterprise. As the name suggests, this enterprise level solution is a comprehensive Blockchain-based operating system, BOS as it is called.

The BloqEnterprise allows companies to tap into the full potential of blockchain technology with tools that are capable of executing various operations on par with an operating system. It therefore enables users to create, customize, analyze and update blockchains.

The BloqEnterprise blockchain operating system can be used to create and edit private, public and permissioned blockchain types. In addition, the blockchain operating system also offers its own set of useful features to help with the development and maintenance of blockchain infrastructure and applications. BloqDev, the operating system includes a custom enterprise IDE for developing blockchain applications in Java, JavaScript, and Python.

The bitcoin full node, BloqRouter on BloqEnterprise is considered to be the most secure node, with an option to switch between Bitcoin Core and Bitcoin Classic. Enterprise users can monitor the analytics for various blockchain networks using BloqView. In addition to these features, BloqEnterprise comes with dedicated round the clock support and other professional services, which can be readily accessed by the companies using the blockchain operating system.

Started last year by Jeff Garzik and Matthew Roszak, Bloq today offers enterprise grade blockchain technology to various leading companies across the world. These technology solutions help companies keep up with the changing technology landscape due to rapid growth in the blockchain technology, which is now being increasing adopted by multiple industries. While BloqEnterprise is the company’s first product, Bloq has been offering strategic consulting, innovation workshops, education and training and other services to the industry as part of its BloqThink program. Rapid prototype design and development is one of the many strong suits of Bloq, which may as well be availed by the enterprises using the company’s blockchain operating system.

In order to offer seamless service and to help in the growth of the blockchain technology, Bloq has partnered with Deloitte, Microsoft, Circle and Bitpay. Among its advisory panel are some of the well-known names from the bitcoin and blockchain industry including Gavin Andresen and Nick Szabo. Other notable members include William Mougayar from Virtual Capital Ventures, Flip Filipowski from Tally capital and Jim Newsome from Delta Strategy.

With BloqEnterprise, many companies can now readily deploy and maintain their blockchain applications. As the adoption increased, we can expect more and more companies opting for the products and services offered by Bloq.

Ref: Market Wired Image Courtesy of NewsBTC

The number of Bitcoin and Blockchain based start-ups are gradually increasing around the world. Blockchain technology has proven to be one of the most versatile technologies till date, which can disrupt the way a lot of industries currently work. Blockchain technology was originally created to act as a ledger for Bitcoin transactions across the network, but soon the technology was adopted for uses other than Bitcoin transactions.

As people catch up with changing times, it is necessary to make them understand about digital currency and the technology behind it. It will make the process of transition easier and increases Bitcoin adoption among the masses. Bitcoin Centers are established in various cities around the world to serve as Bitcoin information centers and also to facilitate the development and growth of start-ups.

Chicago has now become the latest city to get its own Bitcoin Center. Establishment of the new Chicago Bitcoin Center was announced yesterday during the Inside Bitcoins Conference. According to the announcement, the new Bitcoin Center is located in 1871. Named after the year of the great Chicago fire, 1871 is the home of over 300 technology start-ups in the city. Chicago Bitcoin Center couldn’t have asked for a better location as it aims to provide incubation services for Bitcoin based start-ups and entrepreneurs as well.

Chicago Bitcoin Center already has 4 confirmed Bitcoin based start-ups that are working from its premises. These start-ups include OasisCoin — A Bitcoin based remittance service provider, Red Leaf– Bitcoin ATMs operator, Gildera — offers merchant services and Bloq — working on Blockchain based data management applications.

The Chicago Bitcoin Center is being partially funded by Tally Capital, a local venture capital firm which is interested in encouraging and investing in Blockchain technology based start-ups. Start-ups supported by Chicago Bitcoin Center will receive office space in the premises along with opportunity to connect with local innovators and entrepreneurs who are part of the start-up ecosystem.