Presentation and definition of the crypto-currency Counterparty (XCP)

Presentation and definition of the crypto-currency Counterparty (XCP)

  • Name of the crypto-currency : Counterparty
  • Acronym : XCP
  • Where to buy of the Counterparty ? Binance
  • Creation Date : January 2014
  • No white paper
  • Web Site of Counterparty

Counterparty, presentation

Counterparty is an open source platform for decentralized, which allows transactions to peer-to-peer. It uses the blockchain of Bitcoin to secure transactions. Counterparty provides the financial tools and free and open markets, which do not require any intervention of an intermediary in the exchanges. Created in 2014, the platform allows you to create digital assets, issue tokens, to pay dividends, the trader binary options.

The features of Counterparty

The platform is based on Bitcoin and proposes an extension of the functionality of the most famous of all crypto-currencies. With Counterparty, anyone with access to the Internet may use financial instruments which up to the present would not have been neither affordable nor available. Counterparty, as such, does not have its own blockchain, but only works through that of Bitcoin. Thus, all the actions performed on the Counterparty are performed by transactions that Bitcoin and traditional use of XCP.

The chips XCP

There was no blasting of chips XCP, unlike other crypto-currencies, traditional. The center of lift was generated by “burning” bitcoins. These bitcoins were sent to a “dead-adress”, making them unusable. The users who lost their bitcoins in this way were given in return a quantity of XCP in proportion to their tokens BTC lost. This approach has allowed to all the users of Bitcoin to be on an equal footing.

The smarts contracts

In June 2016, Counterparty has integrated the “smart contracts” of the platform Ethereum, allowing to merge the functionality of Ethereum and Bitcoin in a single network.