When it comes to Counterparty, decentralization, robustness and security are our top priorities. When we were designing Counterwallet, we didn’t want to store any user wallet data on our private servers at all. All address generation is from a 12-word deterministic wallet passphrase, and all transaction signing is done in the user’s browser, so the servers which host Counterwallet need to be able to query the Bitcoin blockchain for the balances and unspent transaction outputs of arbitrary Bitcoin addresses. Bitcoin Core only knows such information about addresses in its wallet, however.
Counterparty Uses Bitcore’s Insight
April 25, 2014