On 14/04/15 03:05 PM, Radovan Misovic wrote: > Rob, > I'm still trying to get my head around how does it work on top of > Blockchain, which I had tied exclusively to bitcoin until now. > Did you have to pay any transaction costs when sendin these? If yes, > which crypto-currency did you use?
Counterparty stuffs extra information into Bitcoin transactions in order to represent the creation and transfer of its tokens. So any Counterparty transactions are encoded within Bitcoin transactions: Counterparty runs on the Bitcoin blockchain. Counterparty's first token, XCP, is used to pay for the creation of other tokens. But transferring tokens just needs enough Bitcoins to encode the information representing token type, sender and receiver in Bitcoin transactions. So to create the token cost me 0.5 XCP, and to send out the token cost me some Bitcoin pocket change. You can read more about Counterparty here - http://counterparty.io/docs/about_counterparty/ http://counterparty.io/docs/protocol_specification/ I think the most successful Counterparty token currently is LTBCoin, which is a very interesting case study - https://letstalkbitcoin.com/forum/post/earn-ltbc-by-publishing-your-writings-for-ltb-post-here-to-have-our-write-interface-enabled https://letstalkbitcoin.com/token-societies http://ltbcoin.com/ - Rob. _______________________________________________ NetBehaviour mailing list [email protected] http://www.netbehaviour.org/mailman/listinfo/netbehaviour
