Counterparty has become the first Bitcoin 2.0 project to fully support the popular Armory wallet. The Armory wallet is bitcoin’s most popular offline wallet outside of the standard QT wallet and is well known for its strong security and cold storage options.
Counterparty is one of the most promising Bitcoin 2.0 projects that allows users to issue their own coins using Bitcoin or XCP, on Bitcoin’s blockchain. XCP is Counterparty’s native currency that was created by burning Bitcoin.
Users can now sign for Counterwallet transactions using an offline Armory wallet. In practice, this means that users will be able to store their Counterparty funds on an offline Armory wallet while managing and monitoring it from Counterwallet.
This should give Counterparty users the same robust security features that regular Bitcoin users (the smart ones anyway) have been able to utilize for a while, with the added power of Counterparty.
Evan Wagner, one of Counterparty’s co-founders stated that
“We are completely dedicated to eliminating worries related to security for those investors on our exchange [. . .]Our introductions of multiple-signature support and Armory support are proof of that.”
Armory is available for Windows, Mac, Ubuntu and other forms of Linux.
“It’s great to see more tools being built to make cold storage and multi-signature storage more accessible,” said Alan Reiner, Armory’s founder and CEO. “We’re happy that Counterparty has chosen us to help safeguard its users’ digital currencies.”
Counterparty also recently added multi-signature support, allowing for escrow and increased account security. It supports 1 of 2, 2 of 2, 1 of 3, 2 of 3 and 3 of 3 signature wallets.
For those looking to take advantage of the Armory/Counterparty partnership immediately, Counterparty has posted an online guide to get you started.
As the Bitcoin 2.0 space heats up, Counterparty is in a good position, taking advantage of the Bitcoin blockchain and beating its most direct competition to the market.
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