Counterparty (XCP) is a decentralised financial platform and distributed, open-source Internet protocol built on top of the Bitcoin blockchain and network. Counterparty provides users with a functioning decentralized digital currency exchange, as well as the ability to create virtual assets, issue dividends, create price feeds, bets and contracts. Counterparty also has a native currency that trades on cryptocurrency exchanges as XCP. XCP is not mined; instead, it was issued using a provable method called "proof of burn" which involves sending bitcoins to a special address that renders them permanently unspendable. Original announcement.
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