Written by :
Published on :
A new forked cryptocurrency counterparty protocol would be on its way to the market. The announcement about this forked protocol was announced late last week. The derivative protocol that will be solely dedicated to BCH will be launched on March 1, 2018. During the launch of the XCPC currency, there will also be details on how it will trade.
Although this will be a new product to the market, Bitcoin says that there was an original version. The original peer-t0-peer platform of the same was launched in 2014. The launch that was done in 2014 allows for the creation of more financial assets. Unlike pay per head business, these financial assets have to be derived from the BTC chain. But before announcing the official launch, developers had first to do a Proof-of-Burn. This is an intricate yet simple process.
The first step in this process is for developers to initiate a procedure. The procedure involves the sending of a cryptocurrency. The interesting part is that the cryptocurrency is sent to an unspendable address.Back in January 2014, during the creation period, the team of developers burned 2125.63 BTC. After burning this amount of BTC, developers sent them to unspendable address. Find out if you can use Bitcoin for Pay Per Head Sportsbook Solutions Services at PremierPerHead.com.
In short, what this development intends to achieve is the creation of more assets. From the initial development in 2014, it proved that it is possible for the new protocol to create several types of assets.
Among the assets that are likely to be created are loyalty rewards and collectible cards. Besides, the protocol can generate bond notes. All these are under the robust security of the BTC blockchain.
The XCPC team is happy that there is a new product on the market. Speaking to the press last week, the team confirmed that it is elated about the new development. “Now a new forked version of the counterparty protocol is being created for the bitcoin cash blockchain. The counterparty protocol for BCH will have its native currency. The currency will be called XCPC. It will be used to pay for the registration of asset names,” says the XCPC team.
For many months, even years, Bitcoin supports using real online bookie software have been talking about this. They have been hoping that a time will come for this day.
Although the launch is yet to come, now they can be assured. They now know that counterparty implementation is due soon. In the end, it will create a big change in the cryptocurrency business. This will be similar to what most pay per head business has done.
