A new foundation has been elected and that really cool.
It might bring in new energy and life back to XCP not seen before.
But I have question and a proposalish that Foundation should address.
How will Counterparty scale?
Sidechain or LN?
Omni has gotten funding from Tether to make Omni use LN.
With plans(maybe??)to expand it features using this? (maybe not iffy right now)
RGB has also gotten funding from Bitfinex which is another LN token project expect it has no ICO or intermediary token like Omni/XCP.
RSK has its own token-RIF- but acts more like a utility token not affecting the sidechain. And many of the features still keeps bitcoin as a payment https://bitcoinmagazine.com/articles/rsk-imagines-decentralized-finance-systems-coming-bitcoin
It raised about 200 Million dollars.
So while their no hype for it, they are slow building the paltform and to incentives usage.
A great thing about RSK is it has smart contracts where it can do DEFI.
See moneyonchain
Where does this leave XCP?
I remember reading about how when XCP added smart contracts it brought so much buzz that it was thought to enough to rival Eth. It even helped coin the term maximalist…
But it failed to scale as Bitcoin slowly transitioned to go full on offchain scaling.
Should XCP follow the same steps of Omni and use LN with Rainbow Network(?) to gain DEFI like features?
Or do something like RSK and add smart contract like it once had?
XCP could interact with sidechains to maybe act like masternodes and gain a cut of the fees and vote for Federation members acting like a DAO?
IDC much really.
I respect XCP for what it can do.
I hold no loyality to it but to Bitcoin itself.
XCP helped extend Bitcoin but others exist and that just including the bitcoin based ones.
Best of luck to the Foundation and to the team.
it is essentially just a copy of Counterparty running on a faster/cheaper chain, with the assets being anchored to the BTC blockchain.
As far as smart contracts go, if CP gets a virtual machine, it will probably be very minimal. You can learn more about the proposed Virtual Machine at Proof-of-concept VM Development
If/when counterparty gets a VM, Hazama will probably too, as it is just a straight clone + some additional stuff on top (besides some additional on-chain magic to guarantee PoA block generation).
However, some Counterparty functionality is moot on Hazama (i.e. dispensers, BTCPay, there’s no on-chain value).
Hi all, I was happy to see a new counterparty foundation board of directors elected.
However, since the their election, I have been unable to find any updates or signs of life that the board is active and making progress.
Is there anywhere I can go to find out more info regarding the new board’s activities and goals?
Given that counterparty is hanging on by a thread with just one real exchange listing (Zaif), they need to start improving outreach ASAP.
XCP is one of just a few crypto assets approved on the Japanese Ministry of Finance’s white list, and that gives it a huge advantage in finding approval for new exchange listings in Japan. It would be a shame for the project to die.
