Broadcast information on the Bitcoin blockchain
Last updated
Last updated
Counterparty lets you publish text and data on the Bitcoin blockchain, this is called a Counterparty 'Broadcast'.
This is useful for proof-of-publication, notary purposes, voting and creating betting feeds and oracles.
This information is timestamped (as blocks), freely browsable and permanently stored on the Bitcoin blockchain.
You can view and search broadcasts on a block explorer such as Tokenscan:
To make a broadcast from Freewallet, navigate to the “Actions” tab in the upper right and select “Broadcast Message."
When clicking, a Broadcast Message popup will appear with a few options to choose from:
With the Source option, you can pick the source address you would like to broadcast from.
The next input is the Message you would like to broadcast. In this example, we input a BTNS Counterparty Broadcast message, but the Message input can be for various uses, such as Voting.
The inputs for Value and Feed Fee are used when creating a Betting Feed or an Oracle. The Value option lets you set a specific numerical "Value" for this Broadcast. If used for betting, the Feed Fee is used for paying the Operator of this Betting Feed or Oracle a certain percentage of the bets.
The Timestamp function will automatically add the timestamp of when you publish the Broadcast. The “Timestamp” has no effect here (because timestamping is done by bitcoin miners) and may be removed in a future version.
Last is the Fee you would like to use when initiating this Counterparty function. It is best to first review What BTC Fee should I use? before making this action as well as understanding there could be an Effective Fee Rate issue with longform Messages (such as BTNS Broadcasts). As explained in the Effective Fee Rate issue Troubleshooting section.
It is recommended to use three times the recommended High fee when using the Broadcast function at this time.
Wait for the Bitcoin network to confirm your broadcast, and the Broadcast will be visible on the Bitcoin blockchain as well as Counterparty Block Explorers.
