User:RG for Blockchain/Business model

From Wikipedia, the free encyclopedia

Products and services[edit]

As a cryptocurrency company, Blockchain.com provides a platform for holding, using, managing crypto assets, and exploring cryptocurrency transactions.[1] It also develops financial services standards and infrastructure for cryptocurrencies.[2][3] The company's platform provides market data and analytics.[4] Blockchain.com's aim as a company is to develop a strong platform for cryptocurrency investment that is not based on speculation. It follows cryptocurrency's aims of being decentralized and anonymous; some of its cryptocurrency products are managed by the end user and not accessible by Blockchain.com itself.[5]

Its main products are its cryptocurrency wallet, exchange, block explorer, and institutional markets offering.[6]

Products[edit]

Wallet[edit]

The company offers a hosted cryptocurrency wallet which is a method to store cryptocurrency in a digital file that can be accessed online.[7] The wallet can be used with different cryptocurrencies and stablecoins. Its wallets can be used to send and receive digital currency transactions, as well as swap between different cryptocurrencies.[6] Blockchain.com has a non-custodial wallet, meaning that it is controlled completely by the user and the company has no access to the wallet's data.[7] Users access their wallet with a private key, a recovery phrase known only to the user.[1][8]

Exchange & institutional markets[edit]

The company has an exchange to allow its users to buy, sell, and trade cryptocurrencies.[8] Additionally, the exchange's user interface can be customized by traders to show them relevant information depending on their level of experience.[8]

In addition to its services for individuals, Blockchain.com also provides institutional investors with cryptocurrency-based financial services.[3] The company's institutional markets business provides cryptocurrency lending, borrowing, trading and custody of financial assets.[9] It also carries out over-the-counter transactions for large traders, acting as a broker to keep trades private and prevent price swings occuring based on market knowledge of the trades.[6][8]

Explorer[edit]

The company operates a blockchain explorer that allows the user to see public cryptocurrency transactions and related information.[1] This allows anyone who has a transaction's hash code to see the addresses of the wallets the transaction was sent from and received to, the amount of the transaction, and any fees.[6] The tool can be used for analysis of transaction activity, cryptocurrency data, and analytics.[4] The company sells advertising on the otherwise free service.[8]

References[edit]

  1. ^ a b c Dillet, Romain (March 24, 2021). "Crypto wallet and exchange company Blockchain.com raises $300 million at $5.2 billion valuation". TechCrunch. Retrieved March 24, 2021.
  2. ^ Nichols, Hans; Kokalitcheva, Kia (March 10, 2021). "Scoop: Jim Messina aims to shape cryptocurrency future". Axios. Retrieved March 26, 2021.
  3. ^ a b Vigna, Paul (April 8, 2021). "Gamestop and Bitcoin renewed a push to digitize the stock market". Wall Street Journal. Retrieved May 12, 2021.
  4. ^ a b Vigna, Paul (April 17, 2014). "Blockchain Buys Rights to Bitcoin.com Domain Name". Wall Street Journal. Retrieved May 12, 2021.
  5. ^ Sydney Ember (2014-10-07). "Bitcoin Start-Ups Luring Ever More Investment". The New York Times. p. B3. Retrieved 2015-10-02.
  6. ^ a b c d Dillet, Romain (February 17, 2021). "Crypto wallet and exchange company Blockchain.com raises $120 million". TechCrunch. Retrieved March 17, 2021.
  7. ^ a b Titcomb, James (March 24, 2021). "Blockchain.com founder from York worth hundreds of millions after $5.2bn valuation". Telegraph. Retrieved March 26, 2021.
  8. ^ a b c d e Roberts, John (July 30, 2019). "Blockchain Launches 'Fastest' Crypto Exchange in the World". Fortune. Retrieved March 17, 2021. Cite error: The named reference "Roberts2019" was defined multiple times with different content (see the help page).
  9. ^ Hackett, Robert (February 17, 2021). "Blockchain lands $3 billion valuation after $120 million fundraising". Fortune. Retrieved March 17, 2021.
Retrieved from "https://en.wikipedia.org/w/index.php?title=User:RG_for_Blockchain/Business_model&oldid=1038070134"