ETC Labs Reveals ETC-ETH Interoperability Solution for Ethereum Classic with Metronome
In a blog post today Ethereum Classic Labs announced a partnership with Metronome. Through this relationship, they want to create the first interoperability solution for two of the biggest blockchains that there is: Ethereum (ETH) and Ethereum Classic (ETC) and back.
#EthereumClassicLabs brings @MET_Token to the #EthereumClassic Protocol enabling, for the 1st time, #CrossBlockchain “#chainhop” interoperability. https://t.co/sMw8L10VfF #ethereum #Blockchain #cryptocurrency #METToken $MET @eth_classic @jgarzik @bloqinc @MatthewRoszak
— Ethereum Classic Labs (@etclabs) June 27, 2019
Metronome is fully autonomous crypto launched in 2018 built for usability, fairness, and endurance. Ethereum Classic Labs’ mission is to accelerate the development of the Ethereum Classic community, development, and ecosystem which is supported by a core development team to create development tools, interoperability functionality, and technology resources.
Jeff Garzik, CEO and co-founder of Bloq who happens to be the chief designer of Metronome said:
“ETC Labs has worked hard to improve Ethereum Classic to provide greater cross-chain interoperability. 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.”
Through this association, ETC Labs will support Metronome’s Validator Network to make sure that there is a secure transaction attestation that protects against double-spend attacks and gives cross-chain transactions.
Metronome’s Validator Network plans to bein with 5 decentralized off chain validator, but plan to grow their community as the demand grows. The CEO of ETC Labs, Terry Culver added:
“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. 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.”
Notably, the Atlantis upgrade for Ethereum Classic comprises of 10 Ethereum Improvement Proposals (EIPs). The hardforkwill happen on block 8,772,000 which is curently scheduled on September 17th.