Market Share of Bitcoin Technology Industry
The bitcoin market is fragmented, with emerging startups coming up in recent years that are offering commercial activities related to bitcoin. In the current scenario, most online merchants have started enjoying the anonymity and efficiency of Bitcoin payments, which allows them to cut overhead costs compared to credit or debit card transactions.
In August 2023, PayPal introduced its PayPal USD (PYUSD) stablecoin to some customers in the U.S. as more traditional financial companies offer crypto payment options. A stablecoin is less volatile than popular crypto such as Bitcoin and Ether because they are linked to the value of a fiat currency and are usually backed by the same at a 1:1 ratio. PayPal USD buyers will be able to transfer PayPal USD between PayPal and compatible external wallets, make person-to-person payments using the stablecoin, pay with PayPal USD, and convert any of PayPal’s supported cryptocurrencies to and from the stablecoin.
In April 2022, Blockstream construction has begun on a new solar-powered Bitcoin mining facility. The 3.8 Megawatt (MW) Tesla Solar PV array and 12 megawatt-hours (MWh) Tesla Megapack will power the open-source, solar-powered bitcoin mining facility at a Blockstream Mining site in the United States. This significant development supports the previously announced project between Blockstream and Block Inc.
Bitcoin Technology Market Leaders
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Blockstream Corporation Inc.
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Coinbase Inc.
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Coinify ApS
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Bitstamp Ltd
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Unocoin Technologies Pvt Limited
*Disclaimer: Major Players sorted in no particular order
