Counterparty

<span style="background-color: #ffffff; color: #000000;" The contract network protocol is open source and has undergone extensive testing. In addition to allowing users to create and trade any kind of digital token, contractnet allows anyone to write specific digital protocols, or smart contract programs, and execute them on the Bitcoin blockchain. Smart contracts are revolutionary technology that opens the door to endless possibilities. By using bitcoin's decentralized general ledger network and contract network built-in scripting language, real-world scenarios can now be translated into code for automatic execution without the need for middlemen. 
 Contract coins are used to provide functionality that is technically impossible to use bitcoin for. For example, contract coins are the currency used to pay for all smart contract code execution. More generally, contract coins represent an agreed equity stake in the contract network and are the voting currency for the community to decide on changes in functionality. 
 Contracocoins are created by "burning" Bitcoins, which are sent to an unconsumable address in exchange for contracocoins, ensuring that they are distributed evenly and fairly. In January 2014, more than 2,100 bitcoins were burned, creating about 2.6 million contract coins.

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Crypto lender Delio to resume withdrawals after counterparty contagion

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Synthetix takes on counterparty risks with Infinex derivatives exchange

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Crypto lending platform Babel Finance reaches counterparty debt agreement

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Robby Dermody is founder of Stoic Capital, co-founder of Counterparty, and advisor to Polymath. He has over 20 years of professional experience in software design and development, entrepreneurship, sales, operations, IT consulting, and was the architect and lead developer of Cisco's Remote Mute Monitoring product. In late 2013, he co-founded Counterparty, which pioneered the first distributed trading technology, as well as some early financial contracts based on blockchains. He went on to start several companies, including Symbiont, a leading provider of distributed ledger and smart contract technology to financial institutions, and CtiPath, which worked on several large corporate deals for clients like Esurance and Jacksonville Electric, And participate in building the company's core product structure, operational workflow and proprietary software.

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