[NetBehaviour] NETARTIZEN Token Distribution

[Rob Myers]

On 14/04/15 03:05 PM, Radovan Misovic wrote:
> Rob,
> I'm still trying to get my head around how does it work on top of
> Blockchain, which I had tied exclusively to bitcoin until now.
> Did you have to pay any transaction costs when sendin these? If yes,
> which crypto-currency did you use?

Counterparty stuffs extra information into Bitcoin transactions in order
to represent the creation and transfer of its tokens. So any
Counterparty transactions are encoded within Bitcoin transactions:
Counterparty runs on the Bitcoin blockchain.

Counterparty's first token, XCP, is used to pay for the creation of
other tokens. But transferring tokens just needs enough Bitcoins to
encode the information representing token type, sender and receiver in
Bitcoin transactions.

So to create the token cost me 0.5 XCP, and to send out the token cost
me some Bitcoin pocket change.

You can read more about Counterparty here -

http://counterparty.io/docs/about_counterparty/

http://counterparty.io/docs/protocol_specification/

I think the most successful Counterparty token currently is LTBCoin,
which is a very interesting case study -

https://letstalkbitcoin.com/forum/post/earn-ltbc-by-publishing-your-writings-for-ltb-post-here-to-have-our-write-interface-enabled

https://letstalkbitcoin.com/token-societies

http://ltbcoin.com/

- Rob.