What is the Counterparty Platform?

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Counterparty is a peer-to-peer open-source financial platform protocol built on the Bitcoin blockchain. Counterparty was one of the first ‘Bitcoin 2.0’ or NFT platforms. Counterparty launched during the same era as Colored Coins, Ripple, Bitshares, and Ethereum. Users of the platform can create their own currencies and financial instruments. After they created their own digital assets, they can trade them decentralized. XCP is the native currency of the Counterparty platform. 

What is the Counterparty platform?

The founders created Counterparty in 2014 using a ‘proof of burn’ system. This is an alternative to crowdsales or ICOs, whereas many possible sources of unfairness at launch are burned.  You can ‘burn’ tokens and coins by sending them to an unspendable Bitcoin address. To create the initial XCP tokens to launch the network, Counterparty sent 2140 BTC to such an address. 

Business24-7 aims to help those interested in cryptocurrency make safe and informed investing decisions. We are dedicated to offering our readers unbiased reviews of leading cryptocurrency exchanges for traders at all levels. Cryptocurrency exchanges are included in our reviews if they are safe, liquid, regulated by proper authority, or decentralized. 

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.


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