Counterparty (XCP) Research Report – Disclaimer (as of March 5, 2024)

This report is based on information gathered from various sources on March 5, 2024. Due to the dynamic nature of the cryptocurrency market, data may change rapidly.

Market Data:

• Project Introduction: Counterparty is an open-source platform built on top of the Bitcoin blockchain that enables users to create and trade custom digital assets, also known as colored coins, and execute smart contracts.
• Project & Token Release Date: Counterparty launched in January 2014, with the XCP token created through a “proof of burn” mechanism.
• Market Capitalization: $33,626,528 (as of March 5, 2024) (https://www.coingecko.com/en/coins/counterparty)
• Current Price: $12.97 (as of March 5, 2024) (https://www.coingecko.com/en/coins/counterparty)
• Exchanges: XCP is currently traded on a limited number of exchanges, including Bittrex and TradeOgre (https://coinmarketcap.com/community/)

Competitors:

• Omni (OMNI): $31,480,881 (https://www.coingecko.com/en/coins/omni/usd)
• Stacks (STX): $309,888,747 (https://www.coingecko.com/en/coins/stacks/usd)
• Tether USD (USDT): $66,262,964,212 (https://www.coingecko.com/en/coins/tether)

Use Cases:

• Creating and trading custom digital assets, such as loyalty points, virtual goods, and shares in real-world assets.
• Enabling decentralized betting and gambling.
• Building and deploying smart contracts for various applications.

Technology:

• Counterparty utilizes the Bitcoin blockchain for security and immutability.
• It leverages custom opcodes embedded within Bitcoin transactions to represent and manage colored coins and smart contracts.

Smart Contracts & Audits:

Counterparty supports smart contracts, but there is no information available regarding formal audits.

Investors and Partners:

No recent news reports (within the last 90 days) mention specific investors or partners involved with Counterparty.

Token Distribution:

• 100% of XCP tokens were created during the “proof of burn” process, destroying 2140 BTC.

Token Economics and Use Cases:

• XCP serves as the native currency for the Counterparty platform, used for:
  • Paying transaction fees.
  • Executing smart contracts.
  • Voting on governance proposals.
• There is no information available regarding a token vesting schedule.

Roadmap:

The Counterparty website (https://www.counterparty.io/) outlines a general roadmap focusing on:

• Improving user experience and interoperability with other platforms.
• Expanding the ecosystem of Counterparty assets and applications.
• Ongoing development and maintenance of the core protocol.

Specific milestones are not clearly outlined on the roadmap.

Team Members:

The Counterparty website lists several team members with brief descriptions, but without links to their LinkedIn profiles.

References:

• Counterparty Website: https://www.counterparty.io/
• CoinGecko: https://www.coingecko.com/en/coins/counterparty
• CoinMarketCap: https://coinmarketcap.com/community/

Additional Notes:

• Counterparty has faced challenges due to its reliance on the Bitcoin blockchain, including scalability limitations and high transaction fees.
• The project has seen relatively low development activity in recent years.

It is important to conduct your own research and due diligence before making any investment decisions related to Counterparty (XCP) or any other cryptocurrency.