Blockchain.com is a leading digital asset platform that provides a comprehensive range of services for individuals and institutions to securely store, trade, and manage cryptocurrencies. The platform was founded in 2011 and has since become one of the largest and most trusted players in the industry, with over 41 million wallets created and more than 200 million transactions processed.
Blockchain.com (formerly Blockchain.info) is a cryptocurrency financial services company. The company began as the first Bitcoin blockchain explorer in 2011 and later created a cryptocurrency wallet that accounted for 28% of bitcoin transactions between 2012 and 2020. It also operates a cryptocurrency exchange and provides institutional markets lending business and data, charts, and analytics.
One of the key features of Blockchain.com is its secure wallet, which provides users with a safe and easy way to store and manage their cryptocurrencies. The wallet uses cutting-edge security measures, such as two-factor authentication and encryption, to protect users’ assets and ensure that their transactions are safe and secure. Additionally, the wallet is easy to use, with a simple interface and intuitive design that makes it easy for users to manage their cryptocurrencies.
In addition to its secure wallet, Blockchain.com offers a number of other services that cater to the needs of both individual and institutional users. For example, the platform provides a powerful trading platform that allows users to buy, sell, and trade a wide range of cryptocurrencies, including Bitcoin, Ethereum, and many others. This makes it easy for users to take advantage of the growing digital asset market and capitalize on investment opportunities as they arise.
Another important aspect of Blockchain.com is its focus on education and community. The platform provides a wealth of resources and educational materials to help users understand the world of cryptocurrencies and blockchain technology. This includes tutorials, articles, and webinars, as well as a thriving community of users who are passionate about digital assets and are always willing to help and support others.
In conclusion, Blockchain.com is a leading digital asset platform that provides a range of services for individuals and institutions to securely store, trade, and manage cryptocurrencies. With its secure wallet, powerful trading platform, and focus on education and community, Blockchain.com is an excellent choice for anyone looking to invest in digital assets and take advantage of the growing blockchain industry.
Blockchain.com History:
Blockchain.info was established by Ben Reeves in 2011. He launched a website which could be used to track bitcoin transactions. The website was a block explorer, a website that allowed bitcoin users to see the details of public cryptocurrency transactions if they have the identifying hash code for the transaction.
In early 2012, Reeves and Brian Armstrong, the co-founder of crypto-currency exchange Coinbase, applied to Y Combinator’s summer class. They proposed a payment platform for bitcoin where users could keep a digital wallet, exchange other currency for bitcoins for a percentage fee, and make payments in bitcoin. Due to different opinions they parted ways prior to attending Y Combinator. Reeves wanted to create a platform where users controlled access to their bitcoin information, while Armstrong felt that the platform should retain custody of the users wallets. After parting ways with Armstrong, Reeves continued to work on Blockchain.info.
From 2013 to 2014, Blockchain’s user base grew from 100,000 wallet users in early 2013 to 1.5 million in April 2014. By 2014, Blockchain.com was the most popular bitcoin wallet and was led by Nicolas Cary as CEO. It had acquired two companies, ZeroBlock in 2013, and RTBTC in early 2014, through which it added data analytics services, and brought these services together under one umbrella. In December 2013, Blockchain.com acquired ZeroBlock, an app for bitcoin pricing. The following year, it acquired the data analytics platform RTBTC. It integrated RTBTC’s technology with its existing services, establishing one platform offering cryptocurrency wallet, pricing and analytics, and the cryptocurrency explorer.
In February 2014, Apple Inc. removed the Blockchain.com app from the iOS App Store, prompting a public outcry in the bitcoin community, most notably within the Reddit community. At the time, it was the only bitcoin wallet app available for Apple users, as Apple had removed or denied other apps. In July 2014, Apple reinstated the Blockchain.com app.
During 2014, Peter Smith joined the founding team as its CEO. The three founders, Reeves, Cary and Smith worked from Reeves’ flat in York and formally established the company when bitcoin investor Roger Ver provided initial funding. By October 2014, it had 2.3 million consumer wallets and raised $30.5 million in its first external fundraising round, with investors including Lightspeed Venture Partners and Mosaic Ventures. This was the biggest round of financing in the digital currency sector at that time. The World Economic Forum named the company as one of 2016’s “Technology Pioneers”. In 2017, the company carried out a second round of fundraising. It closed $40 million in funding that June and the company was valued at $280 million.
In 2018, Blockchain started selling services for institutional cryptocurrency. In July 2019, Blockchain.com launched its cryptocurrency exchange, and promoted it as faster than others. In September 2020, the company joined the Coalition for App Fairness which aims to negotiate for better conditions for the inclusion of apps in app stores. In mid-2018, the company acquired Tsukemen, an app-development startup company based in San Francisco.
In 2020 the company had 31 million users and as of 2021, there were 65 million Blockchain.com wallets and 28% of bitcoin transactions since 2012 were initiated or received by a Blockchain.com wallet. In February 2021, Blockchain.com raised a $120 million funding round from investors including Moore Strategic Ventures, Kyle Bass, Access Industries, Rovida Advisors, Lightspeed Venture Partners, GV, Lakestar, and Eldridge. Including previous venture capital funding rounds, the company had raised $190 million altogether. One month later, the company announced a further $300 million fundraising round. One third of the amount raised was funded by investment firm Baillie Gifford which invested $100 million. Based on the fundraising round, the company was valued at $5.2 billion.
In 2022, Blockchain.com’s CEO wrote to shareholders informing them that Three Arrows Capital rapidly becoming insolvent meant a default impact of approximately $270 million worth of cryptocurrency and US dollar loans to Blockchain.com. The firm laid off 25% of its staff, about 150 people, on July 21.
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