To Fulfil It’s Long Term Vision MCAP Migrates From Counterparty Protocol To Ethereum

In an effort to address the sparkling growth and to make trade easy the MCAP token has taken an awaited step of migrating from counterparty protocol to Ethereum. We have been working on this for several months now and this decision came in view of our concerns future where MCAP will be a token trading with various other currencies and available on many trading exchanges. The Counterparty ecosystem is small. Very few other organizations are using it at scale.

Here’s a small analysis to compare the exchanges that are accepting tokens using the counterparty and Ethereum protocols. This clearly shows a huge variance in acceptance for counterparty protocol.

How this move will benefit our users?

After rounds of meetings and iterations we decided to switch to ethereum protocol. But the question is why so much hustle. Following points will help us answer this question:

1. The ERC20 standard provides out-of-the-box interoperability with a wide variety of wallets and tools.

2. Ethereum’s smart contract platform can be leveraged to build a more robust and decentralized storage system.

3. Future integration with Ethereum opens exciting opportunities to provide data services to smart contracts and Dapps.

4. We will participate in a larger community of protocol maintainers, sharing the

ERC20 tokens have been issued by a number of prominent projects including Augur and Golem, and have wide support in the Ethereum development community.

Important:

We will now be using a new wallet for our token namely “myether wallet”. The wallet is easy to use.Mist can be used as a simple wallet to send and receive payments, but it requires users to run a full node and it takes a while to sync. If you want to create a new wallet without having to download the blockchain or simply haven’t done so in a long time and don’t wish to download a big part of it, you can simply use the web based application, MyEtherWallet. To know more about instruction on how to transfer MCAP in Myether please follow the this link.

We will update you with other details soon.