Counterparty (technology) - Definition from the Hotspot Shield Encyclopedia

This is a financial platform that is used for the creation of peer to peer applications in Bitcoin and the Bitcoin Blockchain.

The counterparty software and source code is open source and is written in Python and JavaScript. The software uses the XCP currency for development and as of Jan 2014, over 2.6 million XCP had been created. Counterparty was the first business to offer an exchange for digital currency and the allowance for users to create their own virtual assets and create price feeds. The XCP currency is a main feature of the Counterparty technology and is used throughout the platform to facilitate transactions, make bets and create new assets.