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What is Counterparty (XCP) coin and how does it work?

by Financial Economy

Counterparty is a financial platform that builds peer-to-peer financial applications on the Bitcoin blockchain. The platform allows its users to create new types of digital tokens and trade with any digital token. It also allows users to write digital contracts (smart contracts) and execute them on the Bitcoin blockchain. Information about some topics that what is Counterparty (XCP) coin, how does it work, how to buy it, on which exchange, how much is it, etc. is in continuation of the article.  You can browse here for information about Polkadex (PDEX) coin.

What is Counterparty (XCP) coin and how does it work?

XCP is Counterparty’s native token used on the platform to pay for decision making and execution of smart contracts on the platform. It is mainly used when the use of Bitcoin is not technically possible.

XCP is used to prepare functionality when BTC is technically impossible to use. For example, XCP is used to pay for the entire code of a smart contract. In general, XCP forms part of the Counterparty protocol and is the currency used for voting on changes.

Counterparty founders and developers!

The Counterparty cryptocurrency was developed by a nonprofit called the Counterparty Foundation, with a vision of continued growth and an environment that encourages open development. Robert Dermody, Adam Krellenstein and Evan Wagner developed the Counterparty platform and this cryptocurrency.

Along with the founder of Counterparty, Robert Dermody also created Counterwallet, the platform’s wallet. Robert Dermody is an entrepreneur with nearly 20 years of experience and a diverse background in software development, systems administration, sales, operations and professional services. Adam Krellenstein, along with the co-founder of Counterparty, is also the lead developer and chief architect of its protocol.

Counterparty coin use cases!

Several projects have already been created on Counterparty technology and the most used ones are:

  • Age of Chains is a trading card video game played in an imaginary world stretching into the future.
  • Age of Rust is a multiplayer mobile adventure game app based on strategic thinking and role playing.
  • GetGems is a full-scale instant messaging application that is also a Bitcoin wallet, where GEMZ token can be sent and received using the Counterparty protocol.
  • There are several other projects that include interesting video games, incentive or reward platforms, token management systems and much more.

Which exchange is XCP coin on?

Counterparty coin is listed on some cryptocurrency exchanges such as Dex-Trade, Zaif, etc.

How to buy XCP coins?

Counterparty coin can be purchased from listed cryptocurrency exchanges, like mentioned above. However, before trading, it is necessary to make sure that the exchange and the crypto project are “RELIABLE”. It is so important point for investors.

XCP coin supply!

Total supply of Counterparty coin is 2.613.892 XCP.

XCP coin price!

As of May 22, 2022, at the time of the writing, 1 Counterparty coin price is around $4,32 (because of the volatility the price can change instantly).

Caution: The information contained in this content is for general informational purposes only. It is not investment advice.

For information about cryptocurrency: https://en.wikipedia.org/wiki/Cryptocurrency

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