Book Image

Learning Bitcoin

Book Image

Learning Bitcoin

Overview of this book

Table of Contents (16 chapters)
Learning Bitcoin
About the Author
About the Reviewers

Building a voting system with Counterparty

Counterparty is a protocol built on the Bitcoin blockchain that offers some unique features. With the protocol, the developers can create digital assets, transfer the assets, pay distributions, and execute various smart contracts.

Various use cases for these features include:

  • Buying and selling tickets and coupons

  • Secured access control

  • Betting and gaming

  • Proof of publication

  • Crowdfunding

  • Derivatives

  • In-game currencies

  • Voting tokens and auditing

  • Programmable contracts

Counterparty provides easy to use tools for both developers and non-developers to implement these use cases. In our example, we're going to use Counterparty to create a voting system.

The XCP alt-coin

Counterparty is powered by its own native currency called XCP. Using XCPs, you can pay for the issuance of custom digital assets. One can easily purchase or sell XCPs on public markets. XCPs exchanged on the market carry their own exchange rate. At the time of writing, one bitcoin is worth approximately...