Counterparty

Information About Counterparty

Counterparty and its token, XCP was officially introduced in January 2014.

Counterparty is a decentralized cryptocurrency for creating and exchanging custom token. It depends on the Bitcoin blockchain. In simple terms, it is enforced as an open source protocol outlined to enable smart contracting functions to take place on the Bitcoin blockchain.

It also enables users to generate and trade an assortment of cryptocurrency assets.

Introduction to XCP

XCP is the cryptocurrency token of Counterparty and it is also called “Counterparty”. XCP works through a process “proof of burn”. Enthusiastic investors and parties sent Bitcoin to an “unspendable address” in exchange for XCP tokens. Counterparty creates token to maintain an equal and fair environment for investors and developers.   

Counterparty Update

• New Hires

Counterparty list two new hires in latest weeks

Counterparty would like to welcome Rebekah Moss and Devon Weller as a community outreach manager and core developer for 6 months respectively.

• Ecosystem Updates

Mandel Duck, developer of SaruTobi Island with fronted by Counterparty and team member Christian Moss, has introduced into app stores on iOS and Android devices worldwide.

• Recently, J-Dog, Freewallet developer announced on Twitter about the progress of the desktop version Freewallet compatible on Windows, Mac, and Linux.

Developer Updates

• Counterparty working intently to enhance and implement the following Counterparty Improvement Proposals (CIPs) for the community.

Upcoming CIPs

• CIP 9 – Enhanced sends with memo field support
• CIP 11– Shorten Transaction Type ID Namespace
• 12– Memo Requirement through Broadcasts

• 6 – P2SH data encoding
• 10 – Multi-Peer Multi-Asset Sends (MPMA)
• 10 – Multi-Peer Multi-Asset Sends (MPMA)
• 14 – Segwit Support

Asset Exchange (“DEX”)

In physical words, changing assets is fraught reminiscent of knowledge theft and reliance on an escrow agent or critical counterparty. Therefore, the roles of the escrow agent and clearing condominium are wedge through its protocol itself, getting rid of useless fees, time, and 1/3-celebration believes.

Fee Channels

Consequently, an upcoming Lightning network promises to enable practically on the spot, cheap and trustworthy trade of bitcoin between not trusted counterparties.

Voting

Accordingly, blockchain-founded voting avoids some of the problems inherent with vote casting in “real world”.