Published On: Mon, Jul 17th, 2017

Counterparty Has Reached Its Millionth Transaction

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On Thursday, the smart contract protocol Counterparty reached its millionth transaction. Bitcoin Magazine received an update on the status of the project from Shawn Leary, the newly elected Counterparty community director.Counterparty was launched in January 2014 with the creation of its native currency, XCP. Unlike typical ICOs (initial coin offerings) today that transfer funds to the founders, XCP was created by “burning” bitcoins, whereby bitcoins were sent to a special address (one for which no one owned the private key) that rendered them unspendable. Those who destroyed their bitcoins in this manner in return received an amount of …

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