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Counterparty (XCP) — price, overview & secure storage
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Last Updated on Oct 08, 2026 09:23 PM
What is Counterparty? Complete guide to XCP
What is Counterparty and who created it?
Counterparty is a platform that enables the creation and trading of user-generated assets on the Bitcoin blockchain. Launched in 2014, it predates Ethereum and was the original mechanism for asset creation. Unlike other platforms, Counterparty integrates directly with Bitcoin, offering the security and reliability inherent to Bitcoin's blockchain.
Key features of Counterparty blockchain
Counterparty provides a protocol, set of specifications, and an API that facilitate the creation of digital assets. These assets can represent anything of value, not limited to currencies or tokens. The platform avoids the term token, focusing instead on digital assets, which can include markers of physical objects, company shares, or reputation scores.
How Counterparty transactions work
Counterparty sets the rules and standards for asset creation on the Bitcoin blockchain, similar to how the ERC-20 protocol operates on Ethereum. It allows for the issuance of digital assets that can serve as markers of ownership or voting rights. For example, companies can issue digital assets to board members or stockholders, with the ability to distribute dividends in BTC based on asset ownership. While it addresses similar issues as Ethereum or Waves, Counterparty is best suited for applications needing to interface with Bitcoin or assets connected to the Bitcoin ecosystem.
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Similar cryptocurrencies to Counterparty (XCP)
| Asset | 24h % | Market cap | |
|---|---|---|---|
 Bitcoin BTC | $81,678.23 | -1.95% | $1.64T |
 Ethereum ETH | $2,471.36 | -3.80% | $0.30T |
 Tether USDT | $0.9993 | -0.02% | $0.18T |
 BNB BNB | $733.75 | -4.67% | $97.71B |
 XRP XRP | $1.38 | -2.66% | $87.01B |
Frequently asked questions about Counterparty (XCP)
- Counterparty is a blockchain-based digital asset used for transferring value and interacting with decentralized applications. It operates without central control, relying on distributed network technology.
- Counterparty offers efficient transactions, strong network security, and support for decentralized applications. Its design aims to provide a reliable user experience.
- Yes. XCP is the trading symbol used to identify Counterparty on exchanges and charts.
- There are two main types of crypto lending platforms: decentralized and centralized. Crypto lending platformsprovide opportunities for users to borrow against placed crypto assets and the ability to lend out crypto to receive compensation in the form of crypto rewards.
- Counterparty (XCP) isthe native cryptocurrency of the Counterparty platform, which extends the functionality of the Bitcoin blockchain. XCP is used for various purposes within the platform: Asset Creation: XCP is required to create custom named assets, which carry a small anti-spam fee.
- Crypto exchanges and custodial services act as intermediaries for trading and storing cryptocurrencies. However, these entitiescan be susceptible to security breaches, insolvency, or mismanagement, posing substantial counterparty risks for users.
- A counterparty is the other party that participates in a financial transaction. Every transaction must have a counterparty in order for the transaction to go through. More specifically,every buyer of an asset must be paired up with a seller who is willing to sell and vice versa.
- In financial transactions, a counterparty refers to the other party involved in the trade or contract. For example, in a crypto exchange,the buyer and seller are counterparties to each other, similarly centralized entities, regulators, payment institutions are all included as well.
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