Symbol XCP
Established 02.01.2014
Website URL Link
Block explorer Link
Off. announcement​ Link
Founder PhantomPhreak
Algorithm Transaction fee
Protocol Proof-of-Burn
Reviews 0 / 0

Counterparty is an innovative open-source decentralized peer-to-peer financial platform that uses Bitcoin's blockchain and network. Its native currency, XCP, is stored within Bitcoin addresses and processed via Bitcoin transactions.

Counterparty provides open and secure financial tools and markets that do not require a trusted third-party or middlemen. The platform has been operating since January 2014 and allows for virtual asset creation, issuance of tokens, payouts and issuance of dividends, protocol-escrowed trading, the creation of price feeds, binary bets, and contracts-for-difference.

The platform is based on Bitcoin, and extends the functionality of the Bitcoin network in innovative and unparalleled ways. With Counterparty, anyone with Internet access can use financial instruments that were not previously affordable nor available.

XCP is not mined. It is created as the result of "Bitcoin-burning". The first XCP coins came into existence in January 2014, when 2,100 bitcoins were burned. A number of bitcointalk community members sent the bitcoins to a dead-end address from which they could never be retrieved. This event determined how many XCP coins would ever exist (2.6 million).

In June 2016, Counterparty integrated Ethereum’s smart contracts programming language. This was the day when the functionality of Ethereum’s smart contracts and the security of the Bitcoin blockchain merged together making Counterparty a truly perfect cryptocurrency.


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