Posted on: 09. April 2018

Counterparty Coin

# Provider of the Month - Passive income through Masternodes
The GetNode Club offers its members a stake in the only ever Masternode pool. to the provider - (https://www.getnode.io).

What does the company/project do?

Counterparty Coin is a free and open platform that offers powerful financial tools to anyone with an Internet connection. By leveraging Bitcoin network capabilities, Counterparty Coin creates a reliable and secure market directly within the Bitcoin blockchain, and extends Bitcoin functionality from the peer-to-peer payment network to a fully-fledged, peer-to-peer financial network.

In addition to sending money without the intermediation of third parties, you can conduct business and close deals, with advanced financial contracts. What's more, you can do this without worrying about someone keeping your money or keeping records.

Together with the Counterparty Coin protocol, the platform consists of a proprietary XCP token for advanced operations and a secure Counterwallet browser.

Opportunities to expand

The protocol – The technology that allows the Counterparty nodes to communicate with each other through the Bitcoin Blockchain. Assets – Build your own digital tokens in seconds. They can represent anything and be easily exchanged through a peer-to-peer (P2P) network.

XCP Counterparty Coin – Your own currency that is used for advanced functions and represents a share of the protocol.

Counterparty functions

Wallets for Counterparty Coin – Secure, fast and easy-to-use web browsers and mobile wallets that deliver full performance. Bitcoin support – Smart contracts support Bitcoin and can interact directly with Counterparty contracts.

Lightning network – This is currently under development. The support of payment channels allows a quick exchange of assets and is compatible with the Lightning network.

The creation of assets

  • User-defined, named assets can be created for a small anti-spam charge. Numerical assets are created free of charge.
  • Decentralized exchange – Trade assets without having to trust someone who uses the DEx exchange (decentralized exchange).
  • Secure and Open Source Software – All Counterparty software is open source and has been officially tested by several well-known Bitcoin security experts since its release in January 2014.

Counterparty Coin protocol

The Counterparty Coin protocol is open source and thoroughly tested. In addition to being able to create and trade digital tokens, Counterparty allows any user to write specific digital agreements or programs, called “smart contracts”, and to execute them on Bitcoin's blockchain.

Smart contracts are a revolutionary technology that opens the door to a world of endless possibilities. Using the decentralized bit-count accounting network and the built-in Counterparty scripting language, real scripts can now be automatically converted to code and executed without the need for an intermediary.

XCP

XCP is used to provide the functionality when it is technically impossible to use BTC. For example, XCP is used to pay for the entire code of a smart contract. In general, XCP represents a share of the Protocol Counterparty and is the currency for reconciling changes.

XCP was created during the “burning” of Bitcoins, including sending coins in exchange for XCP belonging to one address. This should ensure a uniform and equitable distribution of the currency. In January 2014, more than 2,100 Bitcoins were “burned”, creating about 2.6 million XCP. You can buy XCP on several exchanges.

Counterparty wallets

Currently, Counterparty has four different types of wallets: a desktop wallet, a wallet, a mobile wallet and a Chrome wallet extension. These wallets offer all the features of the Counterparty client while maintaining the security of your money.

If you use a Counterwallet wallet, all transactions in your device will be completed and your private keys will never be stored on the servers. All information sent to the servers is first encrypted by the wallet client with maximum security, and all traces of your session are deleted when you log out of the system. For easy and secure access, only your passphrase is needed.

General characteristics of the wallet

Create and manage new tokens in Bitcoin's blockchain. The profit can be distributed in BTC, XCP or any other currency. Exchange BTC with XCP or another Counterparty tokens over a peer-to-peer network. Create and manage addresses with multiple signatures. Store tokens offline with Armory and stream data streams into the Bitcoin network.

Counterparty Foundation

The Counterparty Foundation is an independent, non-profit organization dedicated to promoting the growth and open development of the Counterparty platform. Their mission is to strengthen the future of the Counterparty ecosystem by fostering innovation, decentralization, standardization, openness and participation in the community.

Use of the Counterparty platform

Users and members have a Counterparty wallet. Counterparty uses this wallet to ensure full functionality of the Counterparty system while saving money. Counterparty allows users to create and sell a digital token. You can write certain digital agreements; intellectual contracts that are executed in the blockchain of Bitcoin. This platform eliminates the need for intermediaries.

Benefits of Counterparty

The protocols bring many benefits to its users. Capital buffers, such as initial margin, reserves, capital and funds on default keep the Counterparty reserves ready for emergencies.

Typically, Counterparty reduces the risk portfolio of community members by providing multilateral netting and offers the practice of strong risk management, in contrast to other market participants.

OTC payments and transfers that achieve operational efficiency are also provided. Counterparty collects data and publishes aggregated pricing and volume data, which increases market transparency.

Disadvantages of using Counterparty

Counterparty has many shortcomings that make the platform unusually risky.

The clearing of trades through Counterparty focuses the operational, liquid and credit risk on institutions, making them potential sources of systemic risk. Counterparty can eventually limit market liquidity.

Its continued use increases the collective dependence on limited risk management methods, which can lead to a pro-cyclical shock on financial systems.


Passive income through Masternodes
Editor's recommendation: The Masternode Pool Club GetNode is the only provider of its kind. GetNode allows its members to participate in a unique masternode pool that is already over 100 Bitcoin in size. Through active management of the pool and constant purchase of new masters, GetNode has achieved very good results. So who ever wanted a passive income through Masternodes , here is the change. With a minimum of 1000 Euro or 0.2 Bitcoin a quick start is possible. The deposit can be made via Bitcoin or Euro. The payment is made automatically every two weeks via Bitcoin. We are even invested in GetNode with 1.2 Bitcoin and so far we are very satisfied with the results.

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