Nobody Needs Counterparty - A Give-And-Take On Needs In Addition To Wants
About a calendar month ago, I had a comment exchange on /r/Bitcoin amongst /u/brighton36, the community director of Counterparty. Influenza A virus subtype H5N1 lot of dissimilar points were discussed, but the full general declaration was that /u/brighton36 believed that in that place isn't a convincing declaration for the usage of smart contracts as well as turing consummate linguistic communication inwards general, thus making Ethereum an unnecessary project. However, simply similar that logic could endure used to claim "nobody needs Ethereum", similar logic could endure used to brand a declaration that "nobody needs Counterparty". Lets explore whether whatever of this holds water...
Counterparty was launched to a greater extent than or less the start of 2014 and is ane of the Crypto 2.0 platforms that runs on superlative of Bitcoin. Their notable characteristic that sets them apart from most other Crypto 2.0 platforms is their reliance of Proof-of-Burn to number their currency. The platform offers decentralized commutation betwixt XCP, BTC, as well as user created assets,although no straight asset-asset exchange, every bit good every bit some fiscal contracts. Their most notable as well as active assets include LTBCoin, Gemz as well as BitCrystals, which seem rather negligible in comparing to other platforms.
All inwards all, Counterparty is a decentralized property issuing platform for centralized assets - loyalty points, presale currencies, etc. Since it relies on the Bitcoin network, the transactions are slower than the competition, in that place are no existent gateways on the network offering fiat currencies.The network doesn't back upwardly asset-asset trading, making it pretty useless for straight FX trading. While Counterparty tried to woo Overstock into using its platform, but that didn't piece of job out likewise well. The most notable proponent of Counterparty appears to endure Adam Levine amongst his Tokenly project, but hearing what he aims to make amongst it during a Decentral Vancouver meetup, both myself as well as other listeners said "you're reinventing Ripple!".
So inwards general, nobody needs Counterparty - you lot tin toilet number the same currencies on faster, to a greater extent than established platforms, you lot tin toilet number them privately on a centralized platform, on semi-centralized Open Assets, partner amongst some exchanges, etc. There are many other, improve ways you lot tin toilet make the same consequence without using Counterparty. So all inwards all, you lot don't necessitate Counterparty, right?
In similar vein, ane could criticise Ethereum's smart contracts. They offering unambiguous code execution, you lot know the code volition non endure changed during execution, as well as you lot tin toilet run long-running pieces of software that tin toilet usage persistent storage on the blockchain. As /u/brighton36 pointed out:
"Unambiguous code execution is already inwards ubiquitous usage today. Package management systems usage code signing to expose whether the code beingness executed is asserted every bit valid yesteryear the issuing party. Open beginning scripts are inwards abundance. "
Beyond that, Counterparty has recreated Ethereum on its platform (and Ethereum responded inwards variety yesteryear recreating Counterparty inwards 340 lines of code). So all inwards all, you lot don't necessitate Ethereum, right?
When you lot retrieve virtually it really, focusing on whether you lot necessitate something or non because you lot tin toilet make the same chore amongst something else is a dizzy argument. That's similar maxim "you don't necessitate Goland, you've got C++", or "nobody needs a screw, you lot tin toilet usage nails". So no, nobody needs Counterparty as well as nobody needs Ethereum, but they are both useful tools inwards their ain right. As long every bit they are surgery every bit intended as well as fulfil a necessitate people have, non necessarily optimally, they are useful. I mightiness prefer to usage Ethereum to say, seat out my spider web log because to number my local currency because it's convenient / practiced plenty / I similar the project. Sure, you lot tin toilet create improve inwards both cases, as well as inwards fourth dimension you lot might optimize as well as guide a improve platform, but that doesn't hateful those projects aren't useful inwards ane mode or the other.
The solely obvious caveat hither are pumps, scams as well as similar attempts at getting people's money illicitly. While PayCoin mightiness endure every bit useful to transfer money every bit Tether, it wouldn't endure advisable to grade money to the erstwhile over the latter.
Good projects tin toilet flourish if people desire to usage them, or die if people don't care. Bad projects volition most probable sack themselves out eventually. If Ethereum, Counterparty or whatever other projection is out in that place is used yesteryear people, fifty-fifty if you lot tin toilet make the same things amongst something else, permit them usage it. Claiming a projection is "full retard" won't larn you lot rattling far.
Claiming that "nobody needs projection X" because you lot tin toilet make the same chore amongst another tool or technology scientific discipline doesn't brand the projection itself useless. People mightiness convey many reasons to usage the diverse alternatives, as well as every bit long every bit you lot tin toilet make what you lot laid out to do, that mightiness endure practiced plenty for a lot of people.
Sumber http://tpbit.blogspot.com/
Nobody needs Counterparty
Counterparty was launched to a greater extent than or less the start of 2014 and is ane of the Crypto 2.0 platforms that runs on superlative of Bitcoin. Their notable characteristic that sets them apart from most other Crypto 2.0 platforms is their reliance of Proof-of-Burn to number their currency. The platform offers decentralized commutation betwixt XCP, BTC, as well as user created assets,
All inwards all, Counterparty is a decentralized property issuing platform for centralized assets - loyalty points, presale currencies, etc. Since it relies on the Bitcoin network, the transactions are slower than the competition, in that place are no existent gateways on the network offering fiat currencies.
So inwards general, nobody needs Counterparty - you lot tin toilet number the same currencies on faster, to a greater extent than established platforms, you lot tin toilet number them privately on a centralized platform, on semi-centralized Open Assets, partner amongst some exchanges, etc. There are many other, improve ways you lot tin toilet make the same consequence without using Counterparty. So all inwards all, you lot don't necessitate Counterparty, right?
Nobody needs Ethereum
In similar vein, ane could criticise Ethereum's smart contracts. They offering unambiguous code execution, you lot know the code volition non endure changed during execution, as well as you lot tin toilet run long-running pieces of software that tin toilet usage persistent storage on the blockchain. As /u/brighton36 pointed out:
"Unambiguous code execution is already inwards ubiquitous usage today. Package management systems usage code signing to expose whether the code beingness executed is asserted every bit valid yesteryear the issuing party. Open beginning scripts are inwards abundance. "
Beyond that, Counterparty has recreated Ethereum on its platform (and Ethereum responded inwards variety yesteryear recreating Counterparty inwards 340 lines of code). So all inwards all, you lot don't necessitate Ethereum, right?
It's non virtually the need, but the want
When you lot retrieve virtually it really, focusing on whether you lot necessitate something or non because you lot tin toilet make the same chore amongst something else is a dizzy argument. That's similar maxim "you don't necessitate Goland, you've got C++", or "nobody needs a screw, you lot tin toilet usage nails". So no, nobody needs Counterparty as well as nobody needs Ethereum, but they are both useful tools inwards their ain right. As long every bit they are surgery every bit intended as well as fulfil a necessitate people have, non necessarily optimally, they are useful. I mightiness prefer to usage Ethereum to say, seat out my spider web log because to number my local currency because it's convenient / practiced plenty / I similar the project. Sure, you lot tin toilet create improve inwards both cases, as well as inwards fourth dimension you lot might optimize as well as guide a improve platform, but that doesn't hateful those projects aren't useful inwards ane mode or the other.
The solely obvious caveat hither are pumps, scams as well as similar attempts at getting people's money illicitly. While PayCoin mightiness endure every bit useful to transfer money every bit Tether, it wouldn't endure advisable to grade money to the erstwhile over the latter.
Good projects tin toilet flourish if people desire to usage them, or die if people don't care. Bad projects volition most probable sack themselves out eventually. If Ethereum, Counterparty or whatever other projection is out in that place is used yesteryear people, fifty-fifty if you lot tin toilet make the same things amongst something else, permit them usage it. Claiming a projection is "full retard" won't larn you lot rattling far.
Conclusions
Claiming that "nobody needs projection X" because you lot tin toilet make the same chore amongst another tool or technology scientific discipline doesn't brand the projection itself useless. People mightiness convey many reasons to usage the diverse alternatives, as well as every bit long every bit you lot tin toilet make what you lot laid out to do, that mightiness endure practiced plenty for a lot of people.
EDIT:
- It looks similar Counterparty has started supporting asset-asset commutation since the terminal time http://tiny.cc/Crypto was updated.
- As some convey pointed out, Counterparty is also used yesteryear Storj as well as Spells of Genesis trading cards, although they haven't been trading much recently, so why they weren't mentioned
More word on the theme tin toilet endure found here:
Sumber http://tpbit.blogspot.com/
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