The BitHope Foundation has partnered with Counterparty, which means the charitable organisation has created their token. HOPECOIN, as this token is called, will be sent to anyone who makes a donation through the IndieSquare button.
Introducing The HOPECOIN Token Through Counterparty
Most cryptocurrency enthusiasts will have heard of the Counterparty platform before, as it stores extra data in standard Bitcoin transactions. As a result, every Counterparty transactions is a Bitcoin transaction in a smaller size. Transactions on this network are verified by Bitcoin miners and are recorded on the Bitcoin blockchain.
This concept has caught the attention of the BitHope Foundation, as they partnered with the Counterparty team to create their token on the platform. HOPECOIN, as this initiative is called, is a new token which will be issued to anyone who makes a financial contribution to this charitable organisation.
However, there is one requirement, as users have to use the BitHope IndieSquare payment button to receive the tokens. Given the multi-purpose wallet nature of IndieSquare and the fact they are the world’s first Counterparty wallet built for mobile devices, this partnership can bring a lot of positive attention to all parties involved in this partnership.
To put this token into perspective, every Bitcoin donation worth US$1 will reward the contributor with 50 HOPECOINS. While these new tokens have no intrinsic value as of yet, they can be exchanged for goods and services in the future. BitHope Foundation hopes other projects will utilise the Counterparty platform in the future, and offer their goods and services in exchange for these tokens.
For users who have never used the IndieSquare wallet before, it is important to note the user is in full control of their wallet at any given time. During the signup process, there is a 12-word seed that needs to be written down by the user, as they are the only ones who have access to the funds. No other party will ever access one’s funds.
Will you donate to BitHope Foundation to experiment with HOPECOINS on Counterparty? Let us know in the comments below!
Images courtesy of BitHope, Counterparty
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