ETC Labs (Ethereum Classic Labs) has collaborated with Metronome for enabling the first ever cross-blockchain interoperability known as “ChainHop”. What that means is the partnership will make way for the transfer of digital assets between ETC (Ethereum Classic) and ETH (Ethereum), 2 of the biggest blockchains. ETC Labs, based in San Francisco, shared this update with the crypto community by posting an official detailed blog post on 27th June 2019.
As per the blog post, the advancements by the Labs to ETC offers increased compatibility for the blockchain solutions. This, in turn, would facilitate quick, secure, and easy Metronome cross-blockchain transactions to take place between ETC and ETH. It must be noted here that the crypto Metronome or MET is the first digital currency to possess such blockchain interoperability characteristics.
This collaboration will also see ETC Labs extending its support to the Validator Network of Metronome in order to ensure a secure and reliable transaction verification, states the blog. The stringent verification will not only protect against the threats of double-sending but will also offer smoother cross-blockchain transactions. Initially, this Validator Network will comprise of a minimum 5 off-chain and decentralized validators to corroborate transaction validity while also expanding the decentralized community at the same time.
Jeff Garzik, Bloq co-founder and CEO, Metronome’s chief designer, and a veteran Bitcoin developer said that the improvements made to ETC by the ETC Labs will help Metronome to offer reliability, portability, and self-governance to the world-wide community to transactions, payments, and store-of-value across ETC and ETH.
The CEO of ETC Labs, Terry Culver, also expressed his opinions saying they were excited to partner with Metronome to help begin their Validator Network that would enable the MET tokens to move between ETC and ETH seamlessly. He also said that the move would also contribute to advancing the mainstream apps’ adoption to a great extent.
Metronome is an autonomous digital currency introduced in 2018. It was designed with the aim of being the 1st crypto that moves across blockchains. ETC Labs, on the other hand, is an incubator dedicated to achieving its mission of boosting the ETC ecosystem, community, and development. It provides blockchain developers with the necessary resources to develop decentralized and socially impactful apps.