Hi everyone.

I think it is time to implement a Counterparty Improvement Protocol to better allow the community to improve the counterparty protocol and agree on standards surrounding Counterparty.

With the your approval, dear community and founders, I’d like to volunteer as the editor for the CIP process. Editors do the administrative and janitorial work of assigning CIP numbers and keeping the github repository clean. All discussion and building community consensus will happen in the open, pimrarily on these forums and in the Counterparty slack.

With that said, I’d like to introduce CIP-1, which is heavily influenced by BIP-1.

Once we have community consensus on this CIP, we will merge it into the Counterparty CIP repository and it will become CIP 1.

I’m looking forward to improving the protocol together and furthering the Counterparty community together.