Counterparty {XCP} Update for May 18, 2017

Due to several important new changes, we’re releasing a development update independently this week.

Transaction fee improvements

When composing a new Counterparty transaction, counterparty-lib must select which Bitcoin unspent outputs (UTXOs) to use as inputs for the transaction in order to pay the miners’ fees.  We released a hotfixCounterwalletand Counterblockwallet.counterwallet.io has been updated to run it once the feature is live on mainnet. With this code, users can create subassets, trade them, and use them as they would use any other asset.

Subassets are currently live on testnet only, and will be live on mainnet around May 20, so if you haven’t updated to counterparty-lib 5.52.2 yet, please do so ASAP!

To try this all out on testnet, visit https://wallet-testnet.counterwallet.ioaround 40-45>#/strong###, as well as adding a new “memo” field that can be used to specify a description of the transaction, such as an exchange payment ID.

We will soon be drafting out CIP 11 as well, which will allow memo field usage to be required for sending to addresses which signal this requirement. The main use of CIP 9 and 11 together will be exchanges, who will be able to massively streamline their Counterparty deposit and withdrawal processes, which (we think) will drastically reduce support headaches, delays, and the fees they pass on to their users.

We are still aiming for a CIP 9 and 11 release sometime in mid/late June.

New block explorers

In the wake of the closing of blockscan.com, we are pleased to announce the development of two new block explorers, xchain.ioToken Explorer (developed by Inqiesquare). We are very pleased to see these new block explorers, which (especially with xchain.io) will replace the use of blockscan.com. As it is, all  blockscan.com links in Counterwallet have been replaced with the cooresponding xchain.io links.

Jdog has also released counterparty2mysql, a nifty script to convert the Counterparty sqlite database into a mysql database, which he uses with xchain.io.