An important new feature has just been added to Counterparty. Transactions may be embedded in the blockchain as fake Bitcoin addresses—the so-called Pay-to-PubKeyHash method. (This is similar to the Class A encoding that Mastercoin uses.) With this addition, even if ‘bare multi-sig‘ transactions are retired, which would need to occur over a long period of time, or if some other unforeseen problem should occur, Counterparty has an excellent backup plan. The feature is already enabled on testnet, and it will be enabled on mainnet with block 293000, though right now the patch is only in the develop branch. counterpartyd will continue to broadcast multi-sig messages by default, as they don’t create any unspendable outputs.
Pay-to-PubKeyHash Functionality Added
March 26, 2014