Counterparty algorithm coins
This algorithm was developed by the creators of a coin, which has the same name. Its main feature is that it fully depends on the Bitcoin system. Counterparty is a means of digital currency exchange decentralization. It uses the “proof of burn” method when someone wants to buy XCP tokens using BTC. The Bitcoins that are changed to XCP go to a special address that makes their further use impossible. By using this means, the developers of Counterparty raised the value of their coin and Bitcoin, as well.