THELOGICALINDIAN - For anybody abashed by the ball surrounding assertive blockchain projects this anniversary it ability be time to booty a breach and attending at some another platforms starting with Counterparty
Also read: David Seaman: Ethereum Classic ‘Little More Than Troll Vaporware’
As examples of what the belvedere can do, Bitcoin.com asked Trevor Altpeter and added associates of the Counterparty Foundation to name their admired projects congenital using Counterparty or application its tokens. The top not-quite-ten account is below.
An Explanation
First, some account of Counterparty and the way its tokens assignment is necessary, as it works abnormally to added blockchain projects.
Counterparty was started as a agency to actualize new agenda assets and added decentralized banking while application the Bitcoin blockchain. Counterparty additionally has its own blockchain, which receives instructions from bitcoin’s alternation via a action accepted as “embedded consensus.”
It interacts via its built-in “currency” XCP, which is not a adversary to bitcoin – and cannot abide after it. XCP amount was created in January-February 2024 by sending bitcoins to unspendable addresses.
This “proof of burn” adjustment was advised to abstain pre-mines and badge sales, which are generally acclimated to accession funds for added projects, but abide arguable with some users and could accession regulators’ eyebrows.
A absolute 2100 BTC was “burned” in that aeon and the consistent bulk of XCP was assuredly fixed. XCP itself is austere as ammunition for acute contracts, and the bulk appropriate is always adapted so it cannot ability zero.
Custom Tokens
Any Counterparty wallet captivation XCP can be acclimated to create a custom token (i.e. a new cryptocurrency). The user chooses the bulk (in XCP) to spend, the absolute cardinal of tokens and the name. These tokens can again be beatific and accustomed application Counterparty-compatible wallets (more about those below) and if popular, alike traded on some exchanges.
Counterparty addresses attending the aforementioned as Bitcoin addresses and transaction advice is encoded on the Bitcoin blockchain. The tokens can be acclimated in games, for voting and crowdfunding, authentication, decentralized applications, or simply for vanity or fun.
Top 9 Projects
Storj is a decentralized billow accumulator technology. Storj created a cryptocurrency accepted as SJCX that exists as a Counterparty asset. Storj is alive with Counterparty developers to apparatus payment approach technology to accredit Storj micropayments to participants on the Storj network. Storj is one of the best acknowledged cryptocurrency projects in agreement of action absorption – it is now a allotment of Microsoft Azure and breeding constant absorption from accumulated entities.
Spells of Genesis is a mobile game developed by Moonga and a arch innovator in the abstraction of in-game assets. Using Counterparty, Spells of Genesis has created an in-game average of barter accepted as BitCrystals. Spells of Genesis additionally makes use of in-game items in the anatomy of trading cards (also launched via Counterparty). A abounding account of SOG assets can be beheld here.
IndieSquare is a mobile Bitcoin and Counterparty wallet with “a abundant interface and a cardinal of different features.” IndieSquare Wallet facilitates uses of the Counterparty Decentralized Exchange (DEx) allowing users to buy and advertise Bitcoin, XCP, and Counterparty assets with no middleman. Users can additionally actualize and administer assets/tokens anon from the IndieSquare Wallet, bold they have XCP and BTC stored there.
IndieSquare looks to action easy-to-use APIs for web and adaptable casework in the abreast future, acceptance third affair devs to advance able and artistic Counterparty badge chip casework above banking applications – such as gaming and agreeable creation.
GetGems is a messaging app and wallet congenital on top of Telegram that has created a cryptocurrency on Counterparty accepted as GEMZ. GetGems’ better abstruse addition to date is a patented keyboard acquittal band-aid accepted as “Paykey.”
Let’s Talk Bitcoin is one of cryptocurrency’s oldest and best accepted podcasts, and for abounding provided an antecedent Bitcoin education. Hosts Adam B. Levine, Andreas Antonopoulos and Stephanie Murphy accept been audience for over three years. LTBcoin, created as a accolade for podcast admirers and agreeable creators, is the asset with the best affairs on the Counterparty arrangement to date.
CoinDaddy is a armpit created and run by Counterparty association administrator Jeremy Johnson (J-Dog). It is an advantageous Counterparty accessory site – a cryptocurrency adaptation of GoDaddy.com. CoinDaddy and Tokenly are accepted to be more important as Counterparty assets acceptance and utility.
Tokenly is created by above Counterparty association administrator Devon Weller and Adam B. Levine. The ambition of Tokenly is to add accoutrement that accomplish use of Counterparty technology. Two awful acknowledged accoutrement offered by Tokenly are the Tokenly swapbot and token-controlled admission application Counterparty tokens.
FoldingCoin is a rewards affairs that distributes tokens alleged FLDC to participants to the all-around Folding@home network. Folding@home is a affairs developed by Stanford University that “donates” users’ computer ability to advice acquisition cures for diseases. Several projects that have launched on the Counterparty arrangement accept acclimated alloyed folding as a fair administration method.
Topcoin is a accolade arrangement focused on area registrars and online account providers such as VPS (virtual clandestine server) companies. Topcoin has been activity for absolutely a while beneath the radar, and users can absorb Topcoin on Uniregistry.com today with ChunkHost – added area registrars are accepted to be added in future.
Note: the aloft account is as appropriate by the Counterparty Foundation, and is not an official analysis or endorsement by Bitcoin.com of the projects included. The biographer of this commodity does not currently authority any XCP.
Do you accede with this list, or are there any others you could suggest? What’s your assessment on the Counterparty belvedere in general?
Images address of counterparty.io, meed.com
