+1. The Trex and Poloniex news was unfortunate-- likely high spam on bitcoin network causing temporarily sustained high withdrawal fees coupled with the fact many users of Bittrex and Poloniex left end of 2017/2018 to binance when it launched and started becoming THE ICO factory. there was a crypto-winter in general.. so many coins (including xcp) had much lowered volume compared to months earlier, especially with no arbitrage e.g binance to poloniex. Poloniex and Bittrex They just cut off the coins that were costing a little more to keep around the same time e.g circle (poloniex owner) was laying off staff. Cost cutting measure for profitability.
Ironically with Binance kicking US traders out and likely only letting them trade "whitelisted" aka fair launch/incumbent coins on the new exchange with increased restrictions and Bittrexx disabling another 70 coins (eth ICO's) for US traders within next week plus crypto winter seemingly over-- US exchanges will probably get a bit more popular again, and some of that volume would of likely came back to fairly launched non ICO projects like XCP, LTC, etc that are much safer from regulatory perspective with recent crackdowns. Also BTC fees are getting lower again, segwit can reduce this by another 40% But hey. It's not the end of the world.
Anyone listened about any initiatives on recovering this project? Its hard to believe a crypto project of this scale could be forgotten that easily. T
Absolutely,
First problem that's immediately addressable relates to exchanges: Even though most recognize Counterparty is a good concept, (especially OG's) Bizarrely XCP doesn't have good presence on exchanges. Probably we're not doing very good job at speaking to exchanges. Within just over 1 year projects like RVN went from nothing to on 40+ exchanges. All of it community effort. (since there is no "CEO") And they're not the only one. So it's possible to work on this and there is a thread started on the forums on aiming to address this very isue.
Tokens, asset projects built on bitcoin, the strongest, most secure, most liquid chain is great idea. Dex's too. It is 2019 and people are just really getting into the swing of this idea. Counterparty was
very early with all these ideas, 5 years earlier--it gave the first implementation of a DEX and token system and is still one of the few systems that has any kind of working atomic swap BTC on mainchain.
It is WAY under the radar. Now is the time for the community to rally around counterparty and help it grow.
I would suggest to any interested followers to check on the forum. This BTT thread is huge and XCP is an OG project but input is slow here. There's more activity there.
Plus for condensed updates there's the news section on the counterparty site- every month, almost since launch (5 years!!) a newsletter comes out with updates)- there's also the telegram group(s) of which there are 3, plus ancillary projects groups built on counterparty.
Here's what's happening recently:
- Counterparty just passed the 1M send mark, almost 1.5 Million on-chain transactions.
- Two new CIP proposals have been fully funded and are in development (CIP 20 drastically improves the flow of BTC usability on the DEX, CIP 21 improves the segwit adoption period which lowers fees considerably)
- After a long break, The rebooted 2019 counterparty foundation election has just started. https://counterpartytalk.org/t/ann-start-of-the-counterparty-foundation-2019-election-nomination-period-jun-10th-july-1st/5535/8
- Efforts are underway as a community to begin outreach to exchanges (this was a big sticking point in the past)
- Hazama sidechain has been announced by some core counterparty contributors (the mechanism behind it has been patented) Hazama will enable ERC20 AND XCP assets (including XCP itself) to move back and forth between a cheap, fast sidechain AND operate the existing DEX on top of this faster design. It also lays the groundwork for LN swaps. In terms of interoperability, this is HUGE imo, for counterparty and ethereum assets to move on a bitcoin like design. Only Blockstream so far and RSK have delivered any kind of sidechain and they don't support the same kind of asset pegs that Hazama aims to.
- Discussions on other bridges (e.g bridge to swap XCP or XCP assets back and forth to Binance chain)
Plenty of stuff going on..