Blockchain.info

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Blockchain.info (TOR onion site) is a well-known Bitcoin and Ethereum wallet, as well as one of the most popular websites in the industry. The platform was launched in August 2011 in Luxembourg. Blockchain.info has its own implementation of blockchain explorer, which provides users with information about the current status of Bitcoin, including information about the latest transactions and the number of transactions per day. In December 2013, the company acquired ZeroBlock LLC, makers of the leading mobile bitcoin app.[1]

Description[edit]

Main Products[edit]

Explorer Block. The history of the Blockchain.info resource began from this section. The service allows any person to check the status of any transaction quickly and reliably, it also supports transactions with the ether. These services are regularly used by Reuters, Bloomberg agencies and other major media.

Wallets. The wallet available from this service is considered a hybrid EWallet. This means that the coins are not stored with Blockchain.info, but instead held in your browser. There is an encrypted copy of your wallet stored on Blockchain.info's server, but that does not have your wallet password and thus cannot access or spend from your wallet. The same wallet is accessed using the Blockchain for Android mobile wallet. To access the wallet, the wallet identifier needs to be known or bookmarked. To allow for the wallet to be accessed using an easily-remembered word or term, the service allows you to enter an alias to the wallet identifier.

API Platform. Blockchain.info presents a platform for software development and the creation of decentralized applications.

Thunder. Recently, the Blockchain.info development team has presented the first prototype of a new payment channel called Thunder. This technology allows users and sellers to send and receive digital assets without affecting the chain of main blocks. In the future, this must make payments, including microtransactions, more safe and quick, without putting the block chain itself in danger.

Features[edit]

The site offers a number of free ad-supported services:

  • Alternative block chain browser
  • Javascript-based
  • Payment notification/alerts
  • Live updating list of unconfirmed transactions
  • Data and charts providing insight into the Bitcoin P2P network
  • Double spend tracking
  • JSON and block explorer compatible api
  • Multi-signature coordination service (for use with M-Of-N transactions)
  • Mixing Service

The site's availability status and service history is monitored using PingDom.

History[edit]

Blockchain.info Tutorial: Beginners Guide to Buying & Storing Bitcoin

Blockchain.info was the world's most visited bitcoin website in 2013, with over 118 million page views and over 3 million unique visitors in November 2013, and in January 2014 Blockchain.info reached one million user wallets.[2]

In February 2014, Apple Inc. removed the Blockchain app from the iOS App Store, prompting a harsh response from Blockchain and public outcry in the bitcoin community, most notably within the Reddit - Bitcoin community. In July 2014, Apple reinstated the Blockchain app back into the iOS App Store.[3]

In October 2014, Blockchain.info closed a $30.5 million fundraising round from Lightspeed Venture Partners and Mosaic Ventures, which was the biggest round of financing in the digital currency sector at that time.

In December 2014, Blockchain.info became one of the first prominent bitcoin wallets to offer a dedicated hidden service on the Tor network, at blockchainbdgpzk.onion, for users who desire to conduct bitcoin transactions with greater privacy and lesser third party surveillance, as well as to provide end-to-end encryption for Tor users who were previously vulnerable to malicious exit nodes sniffing their keys and stealing their bitcoins.

In early 2015, the company passed 3 million wallets created using their services.[4]

In August 2015, Blockchain.info's CEO Peter Smith was invited to accompany then UK Prime Minister David Cameron on a tour throughout southeast Asia to engage with local representatives about the UK's leading role as a global fintech hub.

Also in August 2015, Blockchain.info passed 4 million wallets created using their services.

In May 2016, Blockchain.info announced Thunder, which claims to be an implementation of the Lightning Network.[5]

Transaction volume had exceeded 100 million by August, 2016.

Co-founders of Blockchain.info, Nicolas Cary and Peter Smith, announced a $40 million Series B in June, 2017.[6]

Security[edit]

An ideal wallet should provide convenient access to money and trading tools, but most importantly, it should ensure the safe storage of coins. Tab "Security" (Security) ensures the installation of good account protection to prevent any potential threats of hacking. The use of an account without the included security features to a greater extent similar to the open car left the main Parking lot.

Sure, things can be fine for a while, but it's the same Parking lot and the thieves are most likely prowling around. After all, one of them pulls the door knob and it just opens. [7].

With the aim to ensure more effective protection of your account from unauthorized access-users often use two-factor authentication. The first line is the username and password of the user, and the second is often a special code that comes by SMS or email. There are times when the second line involves the need to provide biometric user data. Thus, if to say simple words, two-factor authentication implies the need to double confirm the fact that the person who tries to access the wallet, is its true owner.

Backups[edit]

Of course, because the owners of those have the opportunity to restore their own wallet, in the event of a computer failure or due to previously made mistakes. At the same time, since you have decided to use this method of protection against interference of all sorts of detractors, then at least take care to back up periodically and on a regular basis. Do not forget that only the most recent backups must contain private keys and changes to Bitcoin addresses. Otherwise, you will run the risk of correctly recovering previously lost data.

Advantages[edit]

  • A reliable company with many years of experience and millions of users.
  • Well suited for small transactions and regular payments.
  • It is convenient to transfer funds from a paper wallet.
  • Simplicity and ease of use attract new Bitcoin users.
  • The functionality of its apps for smartphones.

Disadvantages[edit]

  • the potential risks inherent in online wallets.
  • there are several reports by users that their accounts are empty and their funds are stolen.
  • there are also complaints that customer support is often useless or impossible to reach.

External Links[edit]

See also[edit]

References[edit]

  1. Blockchain.info Acquires Bitcoin Price App ZeroBlock
  2. Blockchain's Bitcoin App Reinstated in Apple's App Store
  3. My Wallet Number of Users
  4. Announcing the Thunder Network Alpha Release
  5. The company called Blockchain raises $40 million
  6. Blockchain.info - Bitcoin Block explorer & Currency Statistics


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