Counterparty (XCP)
Rank #914
Market snapshot
- Price
- $4.42
- Market cap
- $11.4M
- 24h volume
- $0.00
- Circulating supply
- 2,586,564.1344
- Total supply
- 2,586,564.1344
- Max supply
- N/A
What is Counterparty?
Counterparty is a cryptocurrency designed to facilitate the creation and trading of custom digital assets on the Bitcoin blockchain. The platform allows users to navigate and discover digital assets while enabling secure transactions through its peer-to-peer trading capabilities.
How Counterparty works
Counterparty operates on the Bitcoin blockchain, allowing users to create and trade custom digital assets. This functionality supports efficient management of financial agreements. The platform also provides infrastructure for building decentralized applications, enhancing the overall utility of the Bitcoin network.
Key information
- Symbol
- XCP
- CMC rank
- #914
- Network / platforms
Counterparty
- Categories
- Proof of work
- Date added
- Feb 15, 2014
Key characteristics
Counterparty uses open-source code, allowing developers to build applications that operate on its platform. Every Counterparty wallet functions as a Bitcoin wallet with additional features to support the Counterparty protocol. The platform includes various block explorers, such as Memepool and XCP Ninja, which facilitate transaction tracking and exploration of Counterparty NFTs.
Documented uses
Counterparty enables a wide range of use cases, from gaming to finance.
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and the destination details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What is Counterparty (XCP)?
- Counterparty (XCP) is a cryptocurrency that enables users to create and trade custom digital assets on the Bitcoin blockchain.
- How does Counterparty work?
- Counterparty operates on the Bitcoin blockchain, allowing users to create and trade custom digital assets while providing infrastructure for decentralized applications.
- What are the technical characteristics of Counterparty?
- Counterparty uses open-source code, and every wallet functions as a Bitcoin wallet with additional features to support the Counterparty protocol.
- What are the risks associated with transferring Counterparty assets?
- Digital asset prices can be volatile. Users should verify asset and network before transferring assets and understand the risks of self-custody.
- Where can I find official resources for Counterparty?
- Official resources for Counterparty can be found on their website at http://counterparty.io/ and their GitHub repository at https://github.com/CounterpartyXCP.
Related cryptocurrencies
Listed from stored network and category relationships, not a similarity score.
