Update bip-taro.mediawiki #14
Conversation
Mastercoin became OMNI, not counterparty which is a seperate protocol but still op_return based
|
Correct. |
| @@ -47,7 +47,7 @@ This document is licensed under the 2-clause BSD license. | |||
| Bitcoin, the first decentralized blockchain, realized early in its life | |||
| several systems that attempted to represent arbitrary assets within the | |||
| constraints of the Bitcoin system itself. Amongst the earliest of these systems | |||
| was Counterparty (now known as OMNI), a meta-token protocol on top of Bitcoin | |||
| was Mastercoin (now known as OMNI), a meta-token protocol on top of Bitcoin | |||
There was a problem hiding this comment.
I'm still very confused on this tbh, I changed this after a former mastercoin/counterparty developer corrected my prior wording...
I'd still like to leave in the Counterparty reference as well, since I think that system is still in operation (?)
There was a problem hiding this comment.
Yes counterparty is still in operation, but they both used op_return method.
I guess the main differences are counterparty was more of a community, they did a proof of burn so no ICO no company behind it, all the original founders left early on and it was run by the community
Where as mastercoin/omni was more of a company
mastercoin seemed to only be used for tether where counterparty kind of started the NFT use case
i.e. rarepepes, collectibles, game tokens etc
|
Omni and Counterparty are two separate protocols that operate in similar ways. Omni used to be called Mastercoin, and the "coin" from it is now known as the OMNI token. Counterparty separately had a process for burning BTC in order to create XCP tokens, and never changed its name afaik. If you want to reference them both, feel free, but they are definitely two distinct things that both still exist today. You could also simply leave out Mastercoin altogether if you don't believe me. |
Mastercoin became OMNI, not counterparty which is a seperate protocol but still op_return based