NOTE: If you run a Counterparty node, please update your software as per these instructions within the next 2 weeks, prior to the block 489956 hard fork!
Today we released version 9.55.3 of counterparty-lib, which notably includes a reduction in the cost of all Counterparty transactions, cheaper sends with memo support, easier exchange integration, and a lock issuance bugfix. This release includes the following updates :
- CIP 9 – Enhanced sends with memo field support
- CIP 11 – Shorten Transaction Type ID Namespace
- CIP 12 – Memo Requirement through Broadcasts
- Fixed lock issuance workaround
CIP 9 adds additional functionality to an asset send while at the same time making asset sends 40-45% cheaper and more efficient. Enhanced sends have a smaller transaction size, eliminate dust outputs, and add a memo that enables greater efficiency and lower transaction fees for exchange operators.
CIP 11 reduces the size of ALL Counterparty transactions by 3 bytes, thereby further lowering the transaction costs (BTC fees).
CIP 12 will allow services such as exchanges, to require that a memo be included with a send. This requirement allows exchanges to have their customers deposit directly to the exchange hot-wallet, and reduces the operational cost of using Counterparty in an exchange environment.
All the above updates are currently live on Bitcoin testnet, and will go live on Bitcoin mainnet on block 489956, in approximately 2 weeks (~October 16). It is important that all parties running a Counterparty node update their software as soon as possible. In the meantime, feel free to jump onto Counterwallet testnet and play around with them!
Exchange operators should review the updated “Counterparty Exchange Integration” documentation to familiarize themselves with how they can greatly reduce their operational costs by handling customer deposits using memos.
Counterparty is a community funded project which progresses solely through the generous time and monetary donations of others. Please visit our donations page to stay up to date on the current bounty and development status of any CIPs, and consider making a donation to support continued development.