The idea behind the Counterstake BSC protocol for internetworking is very simple: when a user wants to transfer an asset from his home chain (for example, GBYTE to Obyte or ETH to Ethereum), he locks the asset and requires the same amount of the imported asset on the foreign network. When submitting an application, they place a bet, equal to their declared amount. The share is paid by the own assets of the foreign network (ETH on Ethereum, GBYTE on Obyte). They will refund the bid if the claim is legitimate, or lose if the claim is found to be fraudulent.
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About the decentralized finance project Counterstake BSC
Counterstake — a completely decentralized internet protocol. There are no administrators, central operators, owners and custodians. Protocol participation is open, there are no designated multi-signature members, federated signers or threshold signatures. There are no protocol fees. The code is immutable and cannot be updated or stopped.
Some features of this crypto trading platform:
| 1 | The CS token will be designed with the success of the Counterstake protocol in mind. |
| 2 | Its supply will automatically decrease as the Counterstake protocol becomes more widely used. |
| 3 | The more actively the protocol is used, the faster the supply will decrease, which will lead to an increase in the price of the token. |
The success of the protocol will be measured by the total dollar amount of all coins, traveling on foreign chains. For example, when 100 ETH goes to Obyte, the amount increases by the dollar value of 100 ETH. If 10 ETH come back to Ethereum, this amount is reduced accordingly.
Counterstake supports all tokens in all chains without any assertions or whitelisting. There are currently implementations for Obyte tokens and ERC20 tokens on EVM-based chains (Ethereum, BSC, etc.). Other chains, supporting programmable agents (autonomous agents, smart contracts, chains), can be easily added along with the corresponding tokens.
Counterstake on social media
There are no WhitePaper and RoadMap documents on the site. Instead, the information is available on the main page. There is a section with working rules and answers to popular questions.
From social networks, the community leads:
Subscribe to chat with other members and follow the development of the platform. The smart contract doesn't have an audit.