What is Counterparty?
Counterparty is a financial peer to peer platform for user created assets that is built on top of Bitcoin. It’s a protocol and an API that when taken together allows for the trade and creation of assets on top of the Bitcoin network. With this in regard Counterparty is very similar to platforms like Waves or Ethereum. Though the main difference is that Counterparty is set up directly on top of Bitcoin, and comes with all the security and reliability,( or lack there of) that is still a part and parcel of the Bitcoin network.