Pardon the clickbait-y title, it’s the Internet after all, but I just wanted to quickly announce that I have begun sharing the Google Analytics of all my Counterparty projects and websites.
Given that most sites in the cryptocurrency space are a Blackbox-as-a-Service, I hope that this will be a breath of fresh air and a benefit to the community to “see” itself, at least from the perspective of my sites.
Some people may be surprised at the numbers, some may be disappointed, but neither is the point of sharing this data. The point is to get some organic traffic, duh. …
As a thought experiment, I madlibbed “The Tyranny of Structurelessness” by Jo Freeman, an essay on informal power structures in the women’s liberation movement, to see if its insights are useful to the blockchain space.
During the years in which the blockchain movement has been taking shape, a great emphasis has been placed on what are called leaderless, decentralized groups as the main — if not sole — organizational form of the movement. …
This tutorial is a free crash-course in how to use the Counterparty Decentralized Exchange. Please check out my free DEX explorers: XCPDEX.com and DIGIRARE.com, for examples of what’s traded. I also moderate two Telegram chatrooms, for traders and collectors.
Full Disclosure: I own and trade XCP, as well as other crypto tokens
This tutorial assumes the use of a laptop. Sorry, mobile phone users!
Sometimes known as a meta-layer, Counterparty is essentially a distributed ledger technology anchored into the Bitcoin blockchain.
Counterparty’s P2P network is Bitcoin’s P2P network, Counterparty addresses are Bitcoin addresses, Counterparty transactions are Bitcoin transactions. …
This tutorial is a free crash-course on how to use the Counterparty protocol to issue, send, and trade cryptoassets using Bitcoin.
You don’t need to be a Level 10 Wizard to use Counterparty. I think you’ll find, through hands-on experience with the software, that it’s straight-forward.
On average, this tutorial takes 30–90 minutes from start to finish, depending on blocktimes. And each step is designed to be performed with a PC or laptop.
By following this tutorial step-by-step, you can walkthrough and learn many of the most important features in Counterparty.
Counterparty is NOT a blockchain.
Counterparty is a protocol and network of nodes that reads and writes data to the Bitcoin blockchain using bitcoin txs and a standardized message format. Off-chain, Counterparty nodes validate this embedded data and compute the current state of the network, with each new block.
Counterparty nodes maintain identical ledgers without using a P2P network specific to Counterparty because they are running the same Counterparty software to enforce protocol rules and piggy-backing on Bitcoin’s Proof-of-Work for tx ordering and propogation. This is known as embedded consensus.
A Federated Counterparty Node is a Bitcoin Full Node that uses AddrIndex and runs counterparty-lib software. Counterparty is coded primarily in Python using a SQLite database. Counterparty tracks balances using bitcoin addresses as “accounts” and credits and debits account balances when executing valid protocol messages. …
Counterparty (XCP) is a protocol and software implementation that allows for the issuance and exchange of cryptoassets on top of the Bitcoin blockchain.
Counterparty makes cryptoassets on top of the Bitcoin blockchain possible by writing metadata into bitcoin transactions. That data is then read, validated, and executed by Counterparty nodes. (E.g. “Buy 100 TOKEN / SELL 10 XCP.”)
Each block, Bitcoin full nodes that are running the Counterparty software scan for this metadata. If found, nodes validate that data and update their ledgers, accordingly. This is a method known as “embedded consensus”.
As long as the federated nodes in the Counterparty network are running the same version of software, they can all independently compute — and come to consensus on — the state of the network. (E.g. …