[ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread

[bitcoinrocks]

What does Counterparty use now instead of OP_RETURN?  It sounds like this change won't enable any new functionality (that anyone has proposed yet) but will make for a healthier Bitcoin/Counterparty network.

when not using OP_RETURN, bare multisig is used

Is that why Counterwallet can be so wonky?

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[deliciousowl]

Is that why Counterwallet can be so wonky?

No, Counterwallet is sometimes wonky because advanced Javascript is notoriously unpredictable and the developers made it to accelerate Counterparty development in the space. People are encouraged to contribute to development, or create their own wallets as needed. Some recent problems were caused by changes in the BTC network, I believe.

The core focus on development is always on the protocol itself, and not GUIs. Which makes sense if you think about it... If development was focused on Counterwallet, it might not be wonky but the protocol wouldn't be as stable as it is today... which is exponentially more worrying if you think about it.

Essentially CW is a public service that the devs started (essentially as a favor) for others to continue, be inspired, and use some basic functions. As their extensive Wall Street partnerships show, it wasn't a necessity per se, just an asset to the community.

As it is open-source, there is nothing stopping people from developing/hiring developers to continue development. If you are doing crowdsales, token sales, or hosting your own instance, then this may in the end be a profitable endeavor for you.

You can see the same 'idea' in Counterparty-GUI, which is highly modular and can be customized into any kind of wallet you need.

As counterintuitive as it may seem at first, Counterparty tries to adapt everything for developers rather than end-users. In the first few years of development, this is actually a brilliant idea.  

[eustress]

Is that why Counterwallet can be so wonky?

No, Counterwallet is sometimes wonky because advanced Javascript is notoriously unpredictable and the developers made it to accelerate Counterparty development in the space. People are encouraged to contribute to development, or create their own wallets as needed. Some recent problems were caused by changes in the BTC network, I believe.

The core focus on development is always on the protocol itself, and not GUIs. Which makes sense if you think about it... If development was focused on Counterwallet, it might not be wonky but the protocol wouldn't be as stable as it is today... which is exponentially more worrying if you think about it.

Essentially CW is a public service that the devs started (essentially as a favor) for others to continue, be inspired, and use some basic functions. As their extensive Wall Street partnerships show, it wasn't a necessity per se, just an asset to the community.

As it is open-source, there is nothing stopping people from developing/hiring developers to continue development. If you are doing crowdsales, token sales, or hosting your own instance, then this may in the end be a profitable endeavor for you.

You can see the same 'idea' in Counterparty-GUI, which is highly modular and can be customized into any kind of wallet you need.

As counterintuitive as it may seem at first, Counterparty tries to adapt everything for developers rather than end-users. In the first few years of development, this is actually a brilliant idea.  

Well said. Developers and early adopters are currently the first-class citizens of the Counterparty ecosystem. A healthy, rigorous and well-tested protocol will benefit everyone in the long term.

[poloskarted]

Well said. Developers and early adopters are currently the first-class citizens of the Counterparty ecosystem. A healthy, rigorous and well-tested protocol will benefit everyone in the long term.

Agreed. Legacy financial institutions are beginning to realise the disruptive nature of blockchain tech applied to aging markets

Yesterday SWIFT published a CFP http://www.swiftinstitute.org/wp-content/uploads/2015/07/Call-for-Proposal-Blockchain-in-Securities-Transactions_v7.pdf

CounterParty may be far from the only player in this game (I've counted perhaps 15 buzzword spouting startups up from 10 2 months ago), but it is it is built upon a stable foundation - extensively battle tested, does feature a dedicated community that doesn't over-emphasise focus on gimmicks and talented hardworking developers who weren't profit oriented from day 1. I think it is in a great position to take advantage of this fintech paradigm shift over the coming years.

[bitcoinrocks]

deliciousowl, I believe the protocol is still being actively developed, correct?

[statdude]

Still waiting over 13 hours for an XCP deposit still showing ZERO confirmations...whats going on? Saw some chatter in polo trollbox.

https://www.blockscan.com/tx?txhash=b59db953e7b8a0d7280f39b68874c2f46fecf3d21258c110fd2a96c5b1770def

[eustress]

Still waiting over 13 hours for an XCP deposit still showing ZERO confirmations...whats going on? Saw some chatter in polo trollbox.

https://www.blockscan.com/tx?txhash=b59db953e7b8a0d7280f39b68874c2f46fecf3d21258c110fd2a96c5b1770def

93 confirmations here (so far) - https://blockchain.info/tx/b59db953e7b8a0d7280f39b68874c2f46fecf3d21258c110fd2a96c5b1770def

[poloskarted]

Building on this fantastic recent article http://www.coindesk.com/blockchains-and-the-future-of-audit/

yet another heavyweight officially steps into the blockchain arena..

http://www.coindesk.com/deloitte-blockchain-auditing-consulting/

http://rubixbydeloitte.com/

Professional services firm Deloitte has revealed it is trialling blockchain technology to automate client auditing and crowdsource its consulting efforts, among other applications.

With the announcement, Deloitte – one of the world's 'Big Four' audit firms – becomes the latest mainstream financial entity to voice its interest in the technology, following announcements by banking giants such as Citi, UBS and USAA.

..... "Piscini indicated that these clients are currently exploring different protocols built on top of bitcoin, including Blockstream, Counterparty and Factom. A key question that persists for many is whether to partner with these firms or build a private blockchain."

[poloskarted]

and another competitor..

http://www.startupbootcamp.org/blog/2015/july/fintech-sbcstartupoftheweek-otonomos.html
http://www.otonomos.com/

Introducing a New Vehicle for Human Ingenuity:
The Blockchain Chartered Company™
Otonomos is engineering the world's first blockchain-chartered company, in which you hold your shares in the same way as owning bitcoins in a digital wallet."

No matter how dispersed your share ownership, our blockchain-native technology automatically updates your cap table and helps you govern your company using self-enforceable, smart contracts.

One thing I've noticed with this multitude of blockchain startups spouting off buzzwords is they promise the world; everything is possible with their solution, yet at the current time the product is barely fleshed out beyond a concept stage. It's either a splash page contact form to request more info or a dead road to nowhere. Almost no working code.  This particular example above charges a minimum of $800 for company incorporation (with a load of overpriced extras possible to add to cart). You can't do much else beyond that at this point despite how exciting the marketing blurb sounds. It's really reminiscent of the dotcom boom.

Speaking of smart-contracts, anyone know the ETA on counterparty's mainnet launch? I thought it was initially due in spring but there's barely been any discussion on it aside from a press release last year.  I understand testing takes time but Colored coins and co have no smart contracting. I fear counterparty could lose ground on a huge asset it has with advanced smart contracting on the bitcoin blockchain.

[Matt Y]

^^ nice links, thanks.

Launch is when Ethereum launches and starts accepting pull requests again.

[eustress]

Building on this fantastic recent article www.coindesk.com/blockchains-and-the-future-of-audit/

yet another heavyweight officially steps into the blockchain arena..

http://www.coindesk.com/deloitte-blockchain-auditing-consulting/

http://rubixbydeloitte.com/

Professional services firm Deloitte has revealed it is trialling blockchain technology to automate client auditing and crowdsource its consulting efforts, among other applications.

With the announcement, Deloitte – one of the world's 'Big Four' audit firms – becomes the latest mainstream financial entity to voice its interest in the technology, following announcements by banking giants such as Citi, UBS and USAA.

..... "Piscini indicated that these clients are currently exploring different protocols built on top of bitcoin, including Blockstream, Counterparty and Factom. A key question that persists for many is whether to partner with these firms or build a private blockchain."

Closely related article - www.coindesk.com/standard-chartered-exec-touts-blockchain-tech-for-trade-finance/

This space is about to explode. Counterparty will have a full featured (thanks to smart contracts) and open platform. From that perspective it is great to have the infrastructure of the Counterparty Protocol, the Counterparty Foundation, Symbiont and any other company that wants to use and support Counterparty as a backend.

The ability of Counterparty to migrate to the blockchain du jour is a powerful asset too.

The likes of Blockstream (side-chains), Factom and Ethereum are too generic. Counterparty has always been and will continue to target financial services.

Counterparty: The rails of a new transparent planetary financial system.

[eustress]

^^ nice links, thanks.

Launch is when Ethereum launches and starts accepting pull requests again.

Is that a joke?

and another competitor..

http://www.startupbootcamp.org/blog/2015/july/fintech-sbcstartupoftheweek-otonomos.html
http://www.otonomos.com/

Introducing a New Vehicle for Human Ingenuity:
The Blockchain Chartered Company™
Otonomos is engineering the world's first blockchain-chartered company, in which you hold your shares in the same way as owning bitcoins in a digital wallet."

No matter how dispersed your share ownership, our blockchain-native technology automatically updates your cap table and helps you govern your company using self-enforceable, smart contracts.

One thing I've noticed with this multitude of blockchain startups spouting off buzzwords is they promise the world; everything is possible with their solution, yet at the current time the product is barely fleshed out beyond a concept stage. It's either a splash page contact form to request more info or a dead road to nowhere. Almost no working code.  This particular example above charges a minimum of $800 for company incorporation (with a load of overpriced extras possible to add to cart). You can't do much else beyond that at this point despite how exciting the marketing blurb sounds. It's really reminiscent of the dotcom boom.

Speaking of smart-contracts, anyone know the ETA on counterparty's mainnet launch? I thought it was initially due in spring but there's barely been any discussion on it aside from a press release last year.  I understand testing takes time but Colored coins and co have no smart contracting. I fear counterparty could lose ground on a huge asset it has with advanced smart contracting on the bitcoin blockchain.

Otonomos is a weak idea/execution.

[statdude]

Well, my deposit got stuck:


Seems like this deposit got orphaned on our end due to some blockchain issues... I'm working on fixing it but it might take a bit. Never had this happen to a XCP deposit before.

Thanks,
Richie

[Matt Y]

^^ nice links, thanks.

Launch is when Ethereum launches and starts accepting pull requests again.

Is that a joke?

No?

They don't want to fork it so that if/when ethereum fails all the Daap devs can migrate to Counterparty without rewriting anything. Ethereum is not accepting pull requests from Counterparty until after launch.

At least that's my understanding of it.

[deliciousowl]

Counterparty: The rails of a new transparent planetary financial system.

And it's about time!

"Banks Forgot Who Was Supposed to Own Dell Shares"

Source: http://www.bloombergview.com/articles/2015-07-14/banks-forgot-who-was-supposed-to-own-dell-shares

[BitThink]

^^ nice links, thanks.

Launch is when Ethereum launches and starts accepting pull requests again.

Is that a joke?

No?

They don't want to fork it so that if/when ethereum fails all the Daap devs can migrate to Counterparty without rewriting anything. Ethereum is not accepting pull requests from Counterparty until after launch.

At least that's my understanding of it.

If the pull request will fork the etherium if they don't accept it, then I think they will not accept it after launch cause they certainly don't want to hard fork just after launching. In the other hand, if they don't care about hard forking in the initial stage, then they may do some breaking changes after smart contract being enabled in counterparty mainnet. in that case, does counterparty do a hard fork too? Therefore, I don't think there's a chance to be fully compatible with etherium after their launch if we cannot do it now.

[bitcoinrocks]

I have a background in software and I've spent an obscene amounts of time researching alts over the past year or so.  At this point I have a very good understanding of the scene, the software, and its application/implementation.  XCP has been my #1 investment pick for a long time, but there are others.  Please PM me if you'd like to discuss favorite picks (if we discuss them here we'll look like a bunch of pumpers).

I'm only posting this in this thread because I figure anyone picking XCP most likely has other excellent picks as well.

[Cornett]

I have a background in software and I've spent an obscene amounts of time researching alts over the past year or so.  At this point I have a very good understanding of the scene, the software, and its application/implementation.  XCP has been my #1 investment pick for a long time, but there are others.  Please PM me if you'd like to discuss favorite picks (if we discuss them here we'll look like a bunch of pumpers).

I'm only posting this in this thread because I figure anyone picking XCP most likely has other excellent picks as well.

Will PM you 

[Matt Y]

^^ nice links, thanks.

Launch is when Ethereum launches and starts accepting pull requests again.

Is that a joke?

No?

They don't want to fork it so that if/when ethereum fails all the Daap devs can migrate to Counterparty without rewriting anything. Ethereum is not accepting pull requests from Counterparty until after launch.

At least that's my understanding of it.

If the pull request will fork the etherium if they don't accept it, then I think they will not accept it after launch cause they certainly don't want to hard fork just after launching. In the other hand, if they don't care about hard forking in the initial stage, then they may do some breaking changes after smart contract being enabled in counterparty mainnet. in that case, does counterparty do a hard fork too? Therefore, I don't think there's a chance to be fully compatible with etherium after their launch if we cannot do it now.

I asked Chris about this. Apparently there is a compatibility issue with Python 2 and 3 and some other stuff. Holding pattern until they see what Ethereum releases and then they conform to whatever the release is. Is my new understanding.

[bitcoinrocks]

I thought smart contracts and Ethereum scripting compatibility were separate features that could exist independently of each other.  No?