Review on Counterparty by Syed Adnan
The most versatile and user-adaptable platforms.
It is a financial platform that builds peer-to-peer financial applications on the Bitcoin blockchain. The platform allows its users to create new types of digital tokens as well as trade any digital tokens. It enables users to write digital agreements and execute them on the Bitcoin blockchain.
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Pros
- It embeds data into regular Bitcoin transactions, making these transactions look like ordinary Bitcoin transactions to Bitcoin clients. There are certain rules that distinguish a transaction from a bitcoin transaction, which it can recognize by a node.
- The joined system allows it to work with any other blockchain in the crypto space, including sidechains.
Cons
- It is lying on top of the bitcoin blockchain, rather than being its own separate blockchain.
- Surprisingly for another 6 year old currency, the price saw some major variations over the years.
