Chinese Mining Giant Bitmain Acquihires Bitcoin Wallet Blocktrail

Bitmain, the world’s largest Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term mining hardware producer, has acquired Blocktrail, a developer of a multi-platform bitcoin Wallet, API, and Block explorer. The Beijing-based mining giant aims to not only merge Blocktrail’s platform into BTC.com, its bitcoin block explorer service, but also utilize Blocktrail’s talent, which has joined Bitmain as part of the deal.

Blocktrail was founded in 2014 with €500,000 funding from BlockCorp, which was set up by Lev Leviev, co-founder of VKontakte (a Russian social network), and Blocktrail CEO Boaz Bechar. It provides consumers and developers with tools to interface with the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term, through its bitcoin wallet, its developers’ platform, and its online block explorer which provides users with online information about cryptocurrency transactions.

“Bitmain is the world’s leading company in the bitcoin space. Joining forces with Bitmain will not only benefit both our companies, but also all our present and future customers”, says Blocktrail’s CEO Boaz Bechar.

Jihan Wu, co-founder of Bitmain, added: ”Blocktrail’s products, services and team are highly valuable to us. We hope to utilize this acquisition to continue to offer better services and products to BTC.com’s customers worldwide”.

Blocktrail’s wallet is decentralized, which means that users are able to maintain full control over their private keys, rather than trusting in a centralized wallet service to secure it. This way the firm promises clients can’t be locked out by the service provider or any other authority. Despite the ownership change, Blocktrail’s platform and services are said to continue to operate with both wallet and API users unaffected by any changes.