Counterparty Recreates Ethereum's Smart Contract Platform on Bitcoin
1–10 of 17 posts
Re: Counterparty Recreates Ethereum's Smart Contract Platform on Bitcoin
#2IMO Counterparty is (still) the most underated technology in the crypto space. Since it utilizes the same addresses and Blockchain as Bitcoin, it has just as many users as does Bitcoin. The protocol is clearly tackling all the features that Ethereum has promised, and it works today. It's a fair comparison to suggest that Counterparty is to Bitcoin, what css is to html. They work together
Re: Counterparty Recreates Ethereum's Smart Contract Platform on Bitcoin
#3It's great that counterparty is adding contract support sometime soon. Counterparty technology has promise, but it has fundamental differences compared to ethereum.
Running contracts on a layer on top of bitcoin vs an idependent blockchain like ethereum is a very different experience.
It will take time to figure out what sort of model wins out- Let's all hope the best technology wins.
Re: Counterparty Recreates Ethereum's Smart Contract Platform on Bitcoin
#4IMO Counterparty is (still) the most underated technology in the crypto space. Since it utilizes the same addresses and Blockchain as Bitcoin, it has just as many users as does Bitcoin. The protocol is clearly tackling all the features that Ethereum has promised, and it works today . It's a fair comparison to suggest that Counterparty is to Bitcoin, what css is to html. They work together
> it works today
No, it works on a testnet, just as ethereum currently does.
Re: Counterparty Recreates Ethereum's Smart Contract Platform on Bitcoin
#5It's great that counterparty is adding contract support sometime soon. Counterparty technology has promise, but it has fundamental differences compared to ethereum. Running contracts on a layer on top of bitcoin vs an idependent blockchain like ethereum is a very different experience. It will take time to figure out what sort of model wins out- Let's all hope the best technology wins.
Please elaborate
Re: Counterparty Recreates Ethereum's Smart Contract Platform on Bitcoin
#6It's great that counterparty is adding contract support sometime soon. Counterparty technology has promise, but it has fundamental differences compared to ethereum. Running contracts on a layer on top of bitcoin vs an idependent blockchain like ethereum is a very different experience. It will take time to figure out what sort of model wins out- Let's all hope the best technology wins.
Please elaborate
(Disclosure: I own ether, but not XCP)
Well, both platforms require you to use a new currency (ether and XCP currency.) Counterparty will make it easier to write contracts that involve bitcoins (I think, not totally sure how that works) ethereum will have a 12 second block time vs a 10 minute block time (very different) and ethereum transaction costs should be lower (for several reasons.)
Additionally, counterparty will probably launch their product first.
Also, ethereum is only one piece of a much larger technology stack being worked on, linking contracts to things like private messages between users, a file distribution system, a webkit-based webrowser/wallet system, etc. Additionally, ethereum can support SPV, a technology very relevant for mobile apps, which apparently isn't possible with a XCP-type system.
(Counterparty also has add-on technologies, but I'm not that familiar with their stack.)
Re: Counterparty Recreates Ethereum's Smart Contract Platform on Bitcoin
#7It's great that counterparty is adding contract support sometime soon. Counterparty technology has promise, but it has fundamental differences compared to ethereum. Running contracts on a layer on top of bitcoin vs an idependent blockchain like ethereum is a very different experience. It will take time to figure out what sort of model wins out- Let's all hope the best technology wins.
Counterparty doesn't use a delegate system. All contract code is run on all Counterparty nodes.
Re: Counterparty Recreates Ethereum's Smart Contract Platform on Bitcoin
#8It's great that counterparty is adding contract support sometime soon. Counterparty technology has promise, but it has fundamental differences compared to ethereum. Running contracts on a layer on top of bitcoin vs an idependent blockchain like ethereum is a very different experience. It will take time to figure out what sort of model wins out- Let's all hope the best technology wins.
Counterparty doesn't use a delegate system. All contract code is run on all Counterparty nodes.
You're right, I corrected my top post.
Re: Counterparty Recreates Ethereum's Smart Contract Platform on Bitcoin
#9IMO Counterparty is (still) the most underated technology in the crypto space. Since it utilizes the same addresses and Blockchain as Bitcoin, it has just as many users as does Bitcoin. The protocol is clearly tackling all the features that Ethereum has promised, and it works today . It's a fair comparison to suggest that Counterparty is to Bitcoin, what css is to html. They work together
> it works today No, it works on a testnet, just as ethereum currently does.
Counterparty has a production release which is entirely functional, and in active use (I think they just hit 100k transactions). In fact, it's usually responsible for 1-2% of Bitcoin's daily transaction volume. The contract feature was just announced today, but Counterparty's development is very quick, and the feature will be in production soon, judging by their pace thus far. The project went from starting out in January, to securing the Overstock deal in November. Compared to Ethereum's glacial pace, I'd not be surprised if these contracts are in production before Ethereum even enters beta.
Re: Counterparty Recreates Ethereum's Smart Contract Platform on Bitcoin
#10Earlier quoted context omitted.
> it works today No, it works on a testnet, just as ethereum currently does.
Counterparty has a production release which is entirely functional, and in active use (I think they just hit 100k transactions). In fact, it's usually responsible for 1-2% of Bitcoin's daily transaction volume. The contract feature was just announced today, but Counterparty's development is very quick, and the feature will be in production soon, judging by their pace thus far. The project went from starting out in Ja…
Yes, I agree this is likely to launch into production before ethereum does.