Quote from: noms on March 24, 2017, 09:42:10 PM

Quote from: AnCap101 on March 23, 2017, 09:38:44 PM

Hey fellas quick question what exactly is counterparty? I see its on poloniex and Bittrex, how is it related to pepe coin?

Counterparty is a currency (XCP) that allows users to create assets on the Counterparty chain. You may have heard of colored coins? Well, counterparty assets are sort of like that. Basically "colored coins" are a method of holding assets on top of the Bitcoin blockchain. I'm sure someone else could explain it better, but I'm trying to be succinct. The thing that is a little confusing is that a Counterparty address can have a balance of BTC, XCP, and any of the assets that one has purchased that were issued on the Counterparty platform. Here's a partial pic of the online wallet at https://wallet.counterwallet.io:

Pepecash is an asset created on the Counterparty blockchain, as well as a rare pepe card. You can see the breakdown of the asset here: https://counterpartychain.io/asset/PEPECASH and the actual card here: http://rarepepedirectory.com/?page_id=1405. You'll notice that not a single address has more than 10% of the coin. The one that has 30% is actually a "burn" address that nobody has the private key for. Those cards are lost forever, and more pepecash is sacrificed to kek every day.

It is unique to the pepeconomy in that not only is it a "Rare Pepe," or certified card w/ pepe on it, but it is also the main reserve currency that is used to buy/sell those rare pepe cards. You can create a wallet and then see all the curated rare pepe cards if you go to https://rarepepewallet.com and browse the different series. That is also a decentralized marketplace to buy and sell the cards for XCP as well as Pepecash.

Why buy XCP? It's how you buy pepecash on the DEX (Decentralized EXchange). You can also buy pepecash for BTC on https://tuxexchange.com/trade?coin=PEPECASH&market=BTC (currently the only place).

I didn't know much about Counterparty when I started with Pepecash a month or two ago, but learned quick - it's a cool idea.

Great explanation!Many thanks Wink