🪙What is Counterparty?
Counterparty is a metaprotocol built on Bitcoin in 2014, allowing users to create, trade, and manage tokens and other digital assets. As a true extension of the Bitcoin protocol, it brings additional functionality, such as decentralized exchanges, token issuance and other features, without altering the underlying Bitcoin consensus rules. Counterparty uses the Bitcoin blockchain as its secure ledger, embedding metadata into Bitcoin transactions (using encoding as op_return in multisg), which allows for new capabilities without compromising Bitcoin’s security.
Counterparty's flexibility and functionalities makes it more versatile compared to other token systems like Ordinals or Runes.
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