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Blockchain and the significance of its over 2 million wallet holders

Blockchain announced itself on Twitter last night as surpassing over 2 million wallet holders. Peter Smith, COO of Blockchain, held an interview with CoinDesk today in which he told the news desk that Blockchain wallets exploded after Apple reinstated the iOS Bitcoin app in July.

Las Vegas Casino Installs Bitcoin ATM
Las Vegas Casino Installs Bitcoin ATM
Photo by Ethan Miller/Getty Images

Blockchain had 1 million wallet holders in January so it is quite a strong upward movement to make Blockchain the #1 wallet available for Bitcoin holders. Smith emphasized that point and the strong support from its wallet holders.

Its close competitor Coinbase announced over one million wallets earlier in the year. There are many people who open a wallet and abandon it or merely allow it to remain offline.

These numbers are significant for Blockchain as Bitcoin is the largest cryptocurrency available. Bitcoin owners have over 11 million bitcoin out in the world cryptocurrency community. The original Satoshi Nakamoto white paper in 2009 and its algorithm provide 22 million bitcoins that could be mined by the Bitcoin miners.

Smith noted with over 2 million wallet holders that the Bitcoin industry is entering a “transactions paradigm.” He stated that Blockchain is currently handling tens of thousands of transactions every day with an estimated $22 billion in bitcoin transactions made using Blockchain software to date.

Blockchain CEO Nicolas Cary added that, “Now, with over two million users on our wallet, it’s reaching mass relevance.” Blockchain has stood the test of time as it is not only known for its cloud based wallets; it provides real time and historical blockchain information with market statistics.

Payment systems move towards the path of least resistance. Bitcoin provides user flexibility when you can open a wallet with a Blockchain or Coinbase. The liquidity of Bitcoin and ability to move globally across geographical boundaries opens it up to be a key component in the new paradigm of the new millennium. What Blockchain and Coinbase have to offer fits into this new paradigm for use as a means to transfer and operate in a cryptocurrency world.

The evolution of Bitcoin and its growth within the community of cryptocurrency is only beginning to display its viability and options for the future in a new economic structure of an exchange system. The Blockchain twitter announcement last night was of great significance for the future of Bitcoin and the new world of cryptocurrency.