Counterparty is one of several next-generation coins known as Bitcoin 2.0 offering more functionalities on top of the Bitcoin blockchain. Counterparty sits on top of the Bitcoin blockchain and is the first cryptocurrency to utilise the Proof-of-Burn method to ensure fair distribution of coins.
In the show, Chris talked about the differences between the open source software platform "Counterparty" and the Counterparty token "XCP".
Chris also gave a definition of smart contracts: "a smart contract awards value independent of an authority with a piece of code".
Chris DeRose also said that they are waiting for Ethereum to be released before starting to open the door to Ethereum smart contracts on the bitcoin blockchain.
"We are trying to maintain compatibility with Ethereum so that we can offer our solutions in an Ethereum world with minimal friction."
This is the current price of Counterparty tokens, XCP:
Bobby is the co-founder of CoinGecko, a cryptocurrency ranking website that gives a 360 degree overview of cryptocurrencies. Follow the author on Twitter @bobbyong