Counterparty is a financial platform for creating peer-to-peer financial applications on the bitcoin blockchain. The protocol specification and all Counterparty software is open source.
The reference client is counterpartyd and a web wallet called Counterwallet showcases all protocol features. It is slightly deflationary, with approximately 2. Counterparty provides users with the world's first functioning decentralized digital currency exchange[1] as well as the ability to create their own virtual assets, issue dividends, create price feedsbets and contracts for difference.
Counterparty has a native currency called XCP. It was originally issued using a provable method called "proof of burn". This method involves sending bitcoins to a special address that renders the coins permanently unspendable. By avoiding funding during its launch, Counterparty has ensured that developers and users have equal financial opportunities.
During January Counterparty used proof of burn to issue XCP, instead of a more traditional fund-raising technique for altcoin launches, to keep the initial distribution of funds as fair and decentralized as possible, and to avoid potential legal issues.
Both are open source and hosted on GitHub. Since Counterparty Assets are created within the bitcoin blockchain, the assets actually exist in any bitcoin block explorer, however, to decode the information on what bitcoin address has what asset an additional layer of block exploration needs to be applied.
Currently there are two block explorers you can use to locate Counterparty assets in bitcoin wallets:. From Wikipedia, the free encyclopedia. Not to be confused with counterparty. This section needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. March Learn how and when to remove this template message.
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Retrieved 27 March Enabling Decentralization with Insight". Retrieved 14 December Retrieved May 6, Check date values in: Archived from the original on Proof-of-authority Proof-of-space Proof-of-stake proof-of-work.
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