📋Counterparty & BTNS
Last updated
Last updated
Counterparty is a peer-to-peer financial platform and decentralized open source internet protocol built on the Bitcoin blockchain and network. It was the first protocol used to mint what we now call NFTs. It has a native currency called XCP.
In November 2014, support for the Ethereum Virtual Machine (EVM) was added to the Counterparty protocol, allowing all Ethereum decentralized applications to run on the Bitcoin blockchain within the Counterparty protocol.
The Counterparty protocol uses Bitcoin native opcodes like OP_Return and Mult signature transactions to embed transaction data in UTXO outputs. The Counterparty protocol is a powerful protocol that is accepted by the BTC community.
The Broadcast Token Naming System (BTNS) is a bleeding-edge experimental protocol to play around with token functionality on Bitcoin and other blockchains. The BTNS currently uses the broadcast feature of the counterparty platform to encode BTNS transactions.
