Bitcoin: New record, blockchain exceeds one billion transactions
Following a brief dip in cryptocurrency, Bitcoin appears to be gaining traction and has reached a new high. In fact, since its establishment in 2009, the world's largest blockchain has handled slightly more than one billion transactions. An exciting new chapter in the history of cryptocurrencies!
As Bitcoin continues to strive for more success—why not break through the $73,000 barrier once more?—its blockchain is also advancing significantly. Although there is still room for improvement, this accomplishment represents a new development in the history of this ground-breaking technology.
Over a billion transactions have been officially processed by Bitcoin.
The most valuable cryptocurrency in the world, Bitcoin, reached a milestone of one billion transactions processed eight hundred weeks and one day after its launch on January 3, 2009, according to Cointelegraph. This momentous occasion coincides with a particularly exciting time in the cryptosphere.
Around the time of the network's fourth halving on April 20, daily Bitcoin transactions peaked, and on April 23, an amazing record of 926,000 transactions were executed. The introduction of the Runes protocol, a new Bitcoin token standard, at block 840,000 is largely responsible for this demand.
But even with this increase, the number of daily transactions for Bitcoin dropped back to 660,260 on May 4. Nevertheless, the crypto star, whose activity has been steadily rising over the past year, is entering a new age with this milestone.
This surge in activity has been spurred by the introduction of new protocols like Bitcoin Ordinals and Runes as well as Bitcoin ETFs, which has strengthened the optimistic feeling surrounding the oldest and most valuable cryptocurrency in the world.
Sure, Bitcoin has surpassed the billion transaction mark, which is a significant milestone in the history of cryptocurrencies, but Ethereum continues to hold the record. Since its July 2015 inception, almost 2.4 billion transactions have been handled by Ethereum.
Based on data from Clark Moody's Bitcoin Dashboard, over the last 30 days, the Bitcoin network has experienced an average of six transactions per second.
It should be mentioned, though, that these numbers exclude transactions made on the Lightning Network, which is mostly used for micropayments.
The Lightning Network handled a lower estimate of 6.6 million transactions in August 2023, according to data from bitcoin exchange River. This suggests that hundreds of millions of transactions have been made on this network since its introduction in January 2018.