What the scheduled Bitcoin hard fork means for Blockchain Wallet Users

At Blockchain, our priority is always our users. Our view on network upgrades and forks is two-fold. First, we will prioritize user safety throughout any network upgrade or instability above all else. Second, we believe our users should maximally benefit from forks wherever feasible.

Not sure what a hard fork or soft fork is? Click here to learn more. Want to understand how this might impact your Blockchain wallet? Read on.

Read more “What the scheduled Bitcoin hard fork means for Blockchain Wallet Users”

Bitcoin Cash Update

We’ve been closely monitoring Bitcoin Cash (BCH) since the hard fork on August 1st and wanted to provide a brief update to our users.

Within the next 8 weeks, we’ll be rolling out limited support for BCH via the settings panel in your Blockchain Wallet. Users with balances of bitcoin in their Blockchain Wallet on August 1st will be able to access an equal balance, as of August 1st, of bitcoin cash.

While no immediate action is necessary, rest assured that your funds are secure. Blockchain wallets are non-custodial and you hold the private keys, meaning you always have full, exclusive access to your funds — which are always accessible with your recovery phrase.

Seamlessly store, send, and receive ether with your Blockchain wallet

At Blockchain, we care deeply about building products users love.  We’re constantly collecting user feedback and using it to help determine where we go next.

Today, we’re excited to announce that you can now seamlessly store, send, and receive ether from within the Blockchain wallet. By adding ether as a new currency, we’re providing users with a new diverse way to interact with the digital economy.

What’s different?

An image showing Blockchain's new ether product.

Using the same user-friendly interface, you can now seamlessly toggle between bitcoin and ether. To keep it simple, the ether experience will mirror the bitcoin experience our users have come to love.

For more information about the ins and outs of ether and how it works in your Blockchain wallet, visit our Support Center Learning Portal.

Exchange BTC for ETH powered by ShapeShift

GIF showing the Blockchain ShapeShift process exchanging bitcoin to ether.

For users looking to acquire ether, we’re excited to introduce a built-in BTC to ETH (and vice versa) exchange, powered by ShapeShift. Accessible directly within your Blockchain wallet, this integration makes it easy for users to acquire both digital currencies and monitor exchange progress, from start to finish.

Of course, in keeping with our ethos, this is just the first iteration of this product. In the coming weeks and months (and years!), we’ll continue to gather user feedback and use that to further build out this integration. Let us know what you think and where to go next.

Don’t have a Blockchain wallet? Click here to sign up today!

More Rocket Fuel: Announcing Our Series B with Lakestar and GV

Dark blue rocket taking off with Blockchain's logo stacked.When Blockchain started out as an open source project, we set out to build tools that would make it easy for anyone to use digital currencies. We still pursue this goal everyday.

I’m extremely proud and humbled by the progress we’ve made – millions of active users around the world, exchange partnerships in 34 countries, billions in monthly consumer volume, and an API platform used by some of the biggest companies in our field.

Today, I’m excited to announce that we’ve raised a Series B of $40 million with Lakestar and GV (formerly Google Ventures) with additional participation from Nokota Management and Digital Currency Group. Our existing investors – Lightspeed Venture Partners, Mosaic Ventures, Prudence Holdings, Virgin, and Sir Richard Branson (Virgin Group) – also participated in the round. Their continued support is an honor.

Our Series B represents the most substantial investment in the fintech space since Brexit and is the largest Series B raised by any digital currency company to date. This brings our total capital raised to over $70 million and we’re thrilled to welcome some of the most well-respected investors in the world to the Blockchain family.

Our mission “to create an open, accessible, and fair financial future for billions across the globe, one piece of software at a time” is a lofty one. This capital moves us one step closer to delivering on that mission and will ensure we can take a very long-term view.

As the market leader, you can expect us to make big, bold bets in research and development as well as further our expansion efforts globally. You can also expect new products aimed at allowing anyone to transact, save, or hedge digital assets with greater speed, efficiency and control.

Innovating, disrupting, revolutionizing a century old industry takes time. We’ve made significant strides, but we’re just getting started. Thank you for joining us on the very first part of our journey to the moon – rest assured we have the rocket fuel to get there!

Sincerely,
Peter & the Blockchain Team

Our legacy and a new logo

Blockchain started as a geeky hacker project aimed at making bitcoin just a little more accessible by building an explorer. From those humble origins, the project grew into a passion for creating a better financial future and Blockchain, the world’s leading software platform for digital assets, was born.

Today, we run the largest block chain software platform in the world. We leverage our technology to build a radically better financial system. In doing so, our software has powered over 100M transactions and empowered users in 130 countries across the globe to transact quickly and without costly intermediaries. More recently, we added our 11 millionth wallet (and counting) and added Antony Jenkins to our board of directors.

We have been privileged to serve millions of people around the world. And, in recent months, we’ve been working to evolve our brand to better match the scope of our ambition and our growing user base.

Late last year, we launched an updated look and feel on blockchain.com, released V3 of our wallet, launched new mobile experiences, and updated our blog. Today, we’re excited to announce the next phase in the evolution of our brand: our new logo.

We arrived at this direction through visual explorations of the division of a fixed asset. With Bitcoin, there is a cap at 21 million and those bitcoins can be divided and subdivided to infinity. The block is a tiny ecosystem, and the pieces within grow, shrink and shift as the ownership of any given piece evolves. It is also a representation of how ‘many’ become ‘one’.

The specific divisions of the colors in this execution are also purposeful: they are based on measurements of the golden section.

The logo as a whole honors the heritage of our previous logos while becoming more simple, modern and optimized for the digital world we’re helping build. It brings us full circle to the very thing that attracted us to the Rubik’s cube, in the first place: all of the squares (entries in the chain) read together as a single unit (the ecosystem); the logo is a gestalt of its pieces. And the colors are built on our most recent logo.

Over the course of the coming weeks, you’ll see the new logo anywhere we’re out in public, like our web and social media sites; very soon you’ll see it in all of our products, as well.

We’re excited about the new logo, but more importantly about the role we’re playing in helping people and businesses throughout the world realize a more open, fair and accessible financial future, one piece of software at a time. Thank you for helping us make our vision a reality each and every day.

To the moon,
Peter

It’s here: we’re rolling out the ability to buy bitcoin from your Blockchain Wallet

Earlier today, we announced a partnership with Coinify that will allow our users in Europe to, for the first time ever, seamlessly and expediently fund their Blockchain wallets without compromising user security or control. This partnership will make our wallet infinitely more user friendly and, ultimately, more accessible for the mass market.

Read more “It’s here: we’re rolling out the ability to buy bitcoin from your Blockchain Wallet”

Security Update: Yesterday’s DNS Attack

Yesterday, Blockchain experienced an outage for several hours while under a DNS attack.

At approximately 5:42 AM EST, the attacker changed Blockchain.info’s DNS servers. Within minutes, our internal systems alerted our infrastructure team who immediately began to assess the attack.

Control over our DNS servers is highly restricted and goes beyond industry standard protections against configuration changes. We were able to access our administrative accounts with our registrar and regain control. Unfortunately, it became clear the attackers gained access to our accounts through breaching the systems of our DNS registrar.

In an abundance of caution, we shut down our entire platform until we investigated the full extent of the attack. After making offline high-level contact with our registrar, we quickly determined that our registrar’s systems were breached by a highly sophisticated attack against the registrar’s infrastructure and not Blockchain’s infrastructure. Our registrar was able to manually regain control and revert the DNS changes.

While we waited for the fix to propagate across the internet, we investigated the malicious site to which the attacker had redirected traffic. We determined that due to the attacker using a self-signed SSL certificate, users using modern browsers – which the wallet requires – were prevented from being exposed to the phishing site. Due to the quick response of our team, the attacker’s DNS changes were allowed only to propagate partially across the Internet. We were also able to locate the owners of the compromised machine being used by the attackers and have it shut down.

After a full check of our own systems and a complete propagation of the correct DNS servers, we brought our platform back online at 1:20 PM EST. To mitigate the attack vector at our registrar, we have implemented additional manual, offline controls.

Ultimately, any disruption in service is something we take seriously and we extend our sincere apologies. While we sometimes remain offline for longer than necessary, we do so out of an abundance of caution while we check to ensure all systems are fully protected and functional.

Thank you for your patience.

Peter Smith

CEO & Co-Founder, Blockchain

Announcing the Thunder Network Alpha Release

At Blockchain, we’re on a mission to create an open, accessible, and equitable financial future. Since our inception, we have focused on building products that make it easy for everyday people to use bitcoin to store and transfer value all over the world. We make Bitcoin usable and useful. We’ve been able to do that because we develop with a user-focused mandate.

A faster, cheaper, and more functional network would deliver real value to our users, so we were excited by the growth of research into payment channel technology on the bitcoin network and innovative uses of this technology. We were particularly interested in the idea of using smart contracts to build what are basically super-charged payments networks, as outlined in a white paper by the lightning.network team. Last year, we hired a talented engineer, Mats Jerratsch, who had been pioneering innovation in this vertical to work with our engineering team and lead research and development on a network based around these ideas.

Read more “Announcing the Thunder Network Alpha Release”

Transaction 0

Firing up the Thunder Network Rocket….

Today, we announced the release of the ThunderNetwork (click here to read) which has the ability to make live, nearly instant, and ultra-cheap transactions that settle back to the Bitcoin blockchain.

We’ve written about our R&D efforts before and you can read all about the details in our previous blog post. As a reminder, the ThunderNetwork is a way to send bitcoin “off-chain” to other parties in a trustless manner based on the lightning.network.

Yesterday afternoon, Mats and I made the very first payments using the Thunder network. Below is a quick tour of Thunder and a recap of what happened.

Read more “Transaction 0”