THELOGICALINDIAN - Counterparty afresh accomplished its millionth transaction This is acceptable account for the bitcoinbased acute application belvedere It appears the Counterparty ecosystem is developing healthily and rapidly
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Counterparty’s association manager, Shawn Leary, told bitcoin.com about their growth: “Counterparty was aflame to see our one millionth transaction action a few canicule ago. It was, ironically, addition sending the credible SQUATCHPEPE agenda trading card. The advance developer for RarePepeWallet.com (RPW), Joe Looney, beatific out a cheep commemorating it…The one actor mark is a bright account that this additional band agreement is accepting a ton of usage.”
Speaking of trading cards, Leary mentioned Counterparty has been a aqueduct for the conception of assorted game-based ICO’s on the bitcoin blockchain, including STORJ, Augmentors.com, RarePepe.Party, SpellsofGenesis.com, and others. However, Counterparty additionally harbors its own built-in agenda coin.
Counterparty, XCP, and Smart Contracting
Counterparty and its token, XCP, was clearly appear in January 2014. The accepted bazaar amount of XCP is sitting about $8.00, according to coinmarketcap.com. Counterparty was implemented as an accessible antecedent agreement advised to acquiesce acute application functions to booty abode on the bitcoin blockchain. It additionally allows users to actualize and barter a array of cryptocurrency assets. Mr. Leary elaborated on its functionality:
Proof of Burn Versus Initial Coin Offerings
XCP was originally created through a action alleged “proof of burn.” Investors and absorbed parties beatific bitcoin to an “unspendable address” in barter for XCP tokens. Counterparty absitively to accomplish tokens in this address to actualize an according and fair ambiance for investors and developers. Leary commented on burning bitcoin, saying, “They austere all of the bitcoins raised! Talk about accepting aplomb and adherence to a project. It was a one time, one way peg of value, BTC to XCP. 2,130 Bitcoin were burned, according to $6.4M aloof a few weeks ago.”
This process differs from Initial Coin Offerings on for instance Ethereum. Rather than breeding tokens via “proof of burn,” some ICO’s book the tokens via a “premine” or “instamine” action and investors accelerate ethereum or bitcoin anon to the startup and its developers, acquisitive to accretion profits and operation funds forth the way.
Counterparty’s Future
Counterparty with all of its avant-garde features, acceptable has a ablaze approaching advanced of it. Leary mentioned they accept two adamantine alive developers and they plan on implementing Counterparty advance proposals soon. He abundant the team’s approaching plans:
Finally, Leary told bitcoin.com that he loves his Counterparty community. He mentioned he is consistently afflicted by the adamantine assignment and assurance apparent by aggregation members. He said they accept a accoutrements of amazing artists, gamers, and crypto enthusiasts of all stripes.
Do you accept Counterparty has a ablaze future? What added applications will it bootstrap to the bitcoin blockchain? Let us apperceive in the comments below.
Images via Shutterstock and Redbubble.com
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