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

[xnova]

Is there any way to refresh asset balances in Counterwallet without logging out/in?

Balances updated in real time, but you can try to switch between balances and "exchange" tab or any other if your balance not updated long time. Log in/logout is most ridiculous variant to update one page. 

We'll be looking further into this in the next few weeks. The underlying server changes should help with stability here (i.e. the software is designed to automatically update balances, but something is happening to disrupt that).

[freedomfighter]

Is there any way to refresh asset balances in Counterwallet without logging out/in?

Balances updated in real time, but you can try to switch between balances and "exchange" tab or any other if your balance not updated long time. Log in/logout is most ridiculous variant to update one page. 

We'll be looking further into this in the next few weeks. The underlying server changes should help with stability here (i.e. the software is designed to automatically update balances, but something is happening to disrupt that).

Hi Xnova,

I know there was a blog post about Sym. and CP's relation. But I'll appreciate it if you can relate specifically to the following:

1. Do products and functions currently being built for Symb. have, or will have anything to do with the CP platform? i.e. will they be using any XCPs for transactions for example? or are these completely 100% separate (aside from the technological base which is obviously somewhat similar?

In other words, are there real-life SYMB products that you expect that will be using counterparty at all?

OR

2. CP's growth is really now up to the community and the devs are just there to improve and further stabilize the platform, but you dont expect to create real-life financial products directly on CP, i.e. requiring XCP.

Thanks
 

[deliciousowl]

With the advent of new and new platforms which promise the world such as Fluid and Treeleg, the definition of what a sidechain is has become completely ambiguous and subjective.

This is why I propose that Counterparty is now an embedded consensus sidechain. Please refer to is as such. This makes Counterparty the only functional sidechain in the world.

I expect a price bump of at least 10%+ as a result.

[xnova]

Is there any way to refresh asset balances in Counterwallet without logging out/in?

Balances updated in real time, but you can try to switch between balances and "exchange" tab or any other if your balance not updated long time. Log in/logout is most ridiculous variant to update one page.  

We'll be looking further into this in the next few weeks. The underlying server changes should help with stability here (i.e. the software is designed to automatically update balances, but something is happening to disrupt that).

Hi Xnova,

I know there was a blog post about Sym. and CP's relation. But I'll appreciate it if you can relate specifically to the following:

1. Do products and functions currently being built for Symb. have, or will have anything to do with the CP platform? i.e. will they be using any XCPs for transactions for example? or are these completely 100% separate (aside from the technological base which is obviously somewhat similar?

In other words, are there real-life SYMB products that you expect that will be using counterparty at all?

OR

2. CP's growth is really now up to the community and the devs are just there to improve and further stabilize the platform, but you dont expect to create real-life financial products directly on CP, i.e. requiring XCP.

Thanks
 

Sure. Along the lines of what we stated earlier, Symbiont has multiple toolkits under its belt. Counterparty is one, and the private network technology we're developing is another. If we have a use-case where the client wishes us to build on a public network-based system, then Counterparty is likely a good choice there. For the other scenarios, our other technology is the better choice. The two technology product suites don't compete with each other, instead they allow us to have coverage for whatever the requirement is.

As to whether Counterparty will become used for a specific project, I can't say, simply because I don't know. It really just depends on what engagements materialize, and the requirements of each one.

In either case, Symbiont will continue to keep the regular community updates happening, as well as to keep the core Counterparty network chugging along, with improvements to functionality and stability as our resources allow. And lately it hasn't been just us who are adding in functionality, we've had a few code commits from other parties in the ecosystem as well...

What we have now is totally suitable for other parties to build on, and we'd be happy to field any questions by parties interested in the technology and platform.  Hope that helps.

[bitcoinrocks]

Can anyone tell me why someone would want their smart contracts running on Counterparty instead of Ethereum?  Is there any advantage besides the security of the Bitcoin blockchain vs the security of the Ethereum blockchain?

[deliciousowl]

Can anyone tell me why someone would want their smart contracts running on Counterparty instead of Ethereum?  Is there any advantage besides the security of the Bitcoin blockchain vs the security of the Ethereum blockchain?

No, apart from the fact that your money or assets are encoded on the only chain with real consensus and a workable solution to the Byzantine General's problem, there is no benefit. I guess if you don't care about network stability or who overwrites your coins and assets, you are free to use Ethereum.

(And Counterparty smart contracts will let you read BTC blocks, BTC transactions, BTC balances, and engage in nlocktime and other BTC scripting)

As to whether Counterparty will become used for a specific project, I can't say, simply because I don't know. It really just depends on what engagements materialize, and the requirements of each one.

The way I see it: Once you establish rapport, giving tangible metrics of certain inefficiencies (in applicable fields) resolved by using Counterparty instead may be a stepping stone once a private solution is implemented. However, only calculated graphs, simulations and a 3rd party assessment will be convincing. I do hope these solutions are by definition modular and interconnectable as stated before.

[Matt Y]

Can anyone tell me why someone would want their smart contracts running on Counterparty instead of Ethereum?  Is there any advantage besides the security of the Bitcoin blockchain vs the security of the Ethereum blockchain?

Your blockchain will not undergo an unprecedented change from POW to POS in 12 - 18 months. Who knows what that will mean for businesses on Ethereum, of which there probably won't be many.

[deliciousowl]

Can anyone tell me why someone would want their smart contracts running on Counterparty instead of Ethereum?  Is there any advantage besides the security of the Bitcoin blockchain vs the security of the Ethereum blockchain?

Your blockchain will not undergo an unprecedented change from POW to POS in 12 - 18 months. Who knows what that will mean for businesses on Ethereum, of which there probably won't be many.

Yes, exactly. The dimensionality of factors that can screw up accounts and liquidity entirely either through malice or accident is exponentially higher than with BTC.

[Matt Y]

Many comments on IRC and about new partnership to use XCP as clearing for off exchange stock trades. Who has more information?

You have more information than all of us. What IRC?

[mtbitcoin]

Can anyone tell me why someone would want their smart contracts running on Counterparty instead of Ethereum?  Is there any advantage besides the security of the Bitcoin blockchain vs the security of the Ethereum blockchain?

From a token/asset view point there are some differences. In Counterparty, the tokens are "Global" meaning that anyone can view the tokens transaction, balances, credits/debits easily as it is encoded on a protocol level. In Ethereum (at the moment), the tokens are part of a "smart contract", they are not "global" in sense. Token/Asset names in Counterparty are unique, where else duplicate token names can be used in Ethereum if they are part of a different contract.

I don't particularly think one is better than the other. Each has its own use cases

[deliciousowl]

I don't particularly think one is better than the other.

Sorry, but that is incorrect. Maybe if you are using monopoly money, they can be functionally equivalent.

• The security of Ethereum - a potato inside a cardboard box without a finished consensus mechanism, a brand new untested blockchain, and a small network
• The security of Bitcoin - hashing power of more than the top 1000 supercomputers combined, distributed worldwide, with 5 extra years of development, superior liquidity by a factor of 3000x+

[prophetx]

the uncertainty of whether things like data feeds will remain as part of the core XCP protocol, and or whether integration of ETH VM will occur and the former will get deprecated is stopping me from mentioning this technology to some cool projects.

just an FYI

[deliciousowl]

the uncertainty of whether things like data feeds will remain as part of the core XCP protocol, and or whether integration of ETH VM will occur and the former will get deprecated is stopping me from mentioning this technology to some cool projects.

just an FYI

Things like data feeds will remain part of the core XCP protocol. I have never heard anything contrary to that.

[Matt Y]

http://counterparty.io/news/counterparty-community-update-oct-17/

[prophetx]

the uncertainty of whether things like data feeds will remain as part of the core XCP protocol, and or whether integration of ETH VM will occur and the former will get deprecated is stopping me from mentioning this technology to some cool projects.

just an FYI

Things like data feeds will remain part of the core XCP protocol. I have never heard anything contrary to that.

ok but some stuff did get deprecated in the past like the btc-xcp function right?  I'm just trying to cover my ass before I tell these people and then bam! 6 months later there's an End of Life announcement

[bitcoinrocks]

the uncertainty of whether things like data feeds will remain as part of the core XCP protocol, and or whether integration of ETH VM will occur and the former will get deprecated is stopping me from mentioning this technology to some cool projects.

just an FYI

Things like data feeds will remain part of the core XCP protocol. I have never heard anything contrary to that.

ok but some stuff did get deprecated in the past like the btc-xcp function right?  I'm just trying to cover my ass before I tell these people and then bam! 6 months later there's an End of Life announcement

It's fun to hear about this kind of real world implementation drama.  Please keep it coming.

[Matt Y]

the uncertainty of whether things like data feeds will remain as part of the core XCP protocol, and or whether integration of ETH VM will occur and the former will get deprecated is stopping me from mentioning this technology to some cool projects.

just an FYI

Things like data feeds will remain part of the core XCP protocol. I have never heard anything contrary to that.

ok but some stuff did get deprecated in the past like the btc-xcp function right?  I'm just trying to cover my ass before I tell these people and then bam! 6 months later there's an End of Life announcement

You can always email Counterparty and ask. That would be a pretty quick way to get up-to-date information.

[xnova]

the uncertainty of whether things like data feeds will remain as part of the core XCP protocol, and or whether integration of ETH VM will occur and the former will get deprecated is stopping me from mentioning this technology to some cool projects.

just an FYI

Things like data feeds will remain part of the core XCP protocol. I have never heard anything contrary to that.

ok but some stuff did get deprecated in the past like the btc-xcp function right?  I'm just trying to cover my ass before I tell these people and then bam! 6 months later there's an End of Life announcement

We wouldn't consider EOLing something in the protocol today that had any significant degree of use, I don't think. Data feeds/broadcasts fit that picture.

[xnova]

the uncertainty of whether things like data feeds will remain as part of the core XCP protocol, and or whether integration of ETH VM will occur and the former will get deprecated is stopping me from mentioning this technology to some cool projects.

just an FYI

Things like data feeds will remain part of the core XCP protocol. I have never heard anything contrary to that.

ok but some stuff did get deprecated in the past like the btc-xcp function right?  I'm just trying to cover my ass before I tell these people and then bam! 6 months later there's an End of Life announcement

It's fun to hear about this kind of real world implementation drama.  Please keep it coming.

BTC-XCP trading on the decentralized exchange is still supported both in the protocol itself and in the command-line client. The functionality was removed from Counterwallet simply because, based on user feedback, it proved to be rather unwieldy. I.e. it required users to stay logged in to complete the trades, which many users didn't/couldn't do, causing liquidity issues and frustrating users on the XCP side of the trade.

An alternative implementation we investigated would have the bitcoin escrowed by the Counterwallet system (or an associated 3rd party system), which would remove the need for users to stay logged into the wallet. However, in our case, this could entail us becoming an "exchange" from a legal perspective, or minimally taking on the risk to store users' BTC, both of which we could not do. A 3rd party that is willing and able to do something like that could implement a service to make BTC-XCP trades much more frictionless. Decentralized trading of any CP asset to any other CP asset (including XCP) is still supported in Counterwallet and in practice is very slick.

[bitcoinrocks]

An alternative implementation we investigated would have the bitcoin escrowed by the Counterwallet system (or an associated 3rd party system), which would remove the need for users to stay logged into the wallet. However, in our case, this could entail us becoming an "exchange" from a legal perspective, or minimally taking on the risk to store users' BTC, both of which we could not do.

Symbiont would technically take custodianship of the BTC in such an arrangement?