Bitcoin Pioneer Says New Coin to Work on Many Blockchains

The mobility means that if one blockchain dies out as the result of infighting among developers or slackened use, metronome owners can move their holdings elsewhere. That should help the coins retain value, and ensure their longevity, Garzik, co-founder of startup Bloq that created metronome, said in a phone interview. It will be unveiled Tuesday at the Money 20/20 conference in Las Vegas.

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Metronome sidesteps a problem that's common for consumers that want to jump from one blockchain -- say, bitcoin -- to another. They have to go to an online exchange, and sell their bitcoins and buy another cryptocurrency. That includes exchange fees, plus the risk of losing out on any appreciation of the currency they dump. With metronome, they won't have to do either.

Metronome owners will be able to receive a digital receipt for removing their coins from one blockchain. They can send the receipt to another blockchain, to add metronome there.