Counterparty (XCP)
From CryptoWiki
Basics
| Type | Peer-to-Peer Decentralized Exchange |
|---|---|
| Consensus mechanism | Not Mineable. Uses the Bitcoin Blockchain |
| Total supply | 2.6 million |
- Peer-to-Peer decentralized exchange
- Smart contract
- Not Mineable. Uses the bitcoin blockchain.
- From this (9-2019) Bitcoin.com article:
"Counterparty uses another chain as a layer built on top of the BTC network and OP_Return opcode transactions tie the assets to the BTC chain. In order to create the Counterparty (XCP), the original team burned 2,140 BTC by sending the coins to a provably unspendable Bitcoin address. The proof-of-burn (PoB) system bootstrapped the cryptocurrency XCP which is used within the system to create new tokens, bets, and callback callable assets."
- Inflation: deflationary
- Asset exchange
- Has the CounterWallet; the official web client of the Counterparty Protocol. For Storj tokens and others.
- Consensus Mechanism: timestamp auth. Bitcoin
- Block production time 10 min, worst case for confirmation time 120 blocks, 2 TPS
- Network security costs: 10% mining inflation
- "The Counterparty project is well known for extensible blockchain game tokens and cards like the game Spells of Genesis. Other Counterparty projects like Mafia Wars and the Rare Pepe trading card series have also gathered a following."
- "The project made headlines in November 2014 when the development team bragged that it implemented the Ethereum Virtual Machine (EVM) into the protocol."
- 'Joe' put out Freeport which has been created to bypass XCP entirely to create assets on Counterparty (2019).
Team, etc.
- Dermody, Robby; co-founder
- Krellenstein, Adam; co-founder
- Wagner, Evan; co-founder
- De Vries, Ruben; Developer
- Todd, Peter; Technical Advisor
- Got hired by e-commerce giant Overstock to develop a new stock market platform powered by cryptocurrency technology.
- Chris Derose once worked for/with Counterparty.
