Mining hardware maker Bitmain, who also operates a Chinese based pool (Antpool) conglomerating blockchain compute power from all over the world, has acquired wallet provider Blocktrail.
The move is to jump start the next phase of service development for BTC.com, which is another blockchain exploring websites like Blockchain.info and a dozen others. This is fresh to see companies combine and consolidate rather than the ongoing reinvention of the wheel the current blockchain bandwagon has underway.
Welcomed Industry Trend
About every other day someone somewhere has a new blockchain startup, sometimes from an existing startup not even up or started, to start another start up to start up the exact same thing as the last 52 start ups started up.
Then of course there are the private database group starting up non-blockchain start-ups and calling them blockchain startups to top of the actual blockchain startups. Bitmain's business decision is a welcome and intelligent one.
This is similar to what wallet providers and the original blockchain bandwagon did years ago and why there are so many alternative coins and wallet providers now. Consolidating the wallets is likely a good (and necessary for survival) thing to do across the industry
A few employees will be joining the Bitmain team (likely to explain all the code so they can take it over) and then the rest will be posted to BTC.com eventually we suspect.
Although it's worth noting that Blocktrail has a bit more style so perhaps this means BTC.com will get a small face-lift.
Report by dinbits
Image source: occ.gov
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