11:30 a.m. ▪
4
min reading ▪ by
Mikaia A.
Bitcoin, after a temporary crypto decline, seems to be regaining its momentum, reaching a new milestone. Indeed, the largest blockchain in the world has just exceeded 1 billion transactions since its creation in 2009. A new milestone in the history of cryptocurrency!
Bitcoin hits 1 billion transactions milestone
While Bitcoin resumes its race towards new heights, why not cross the $73,000 mark again, its blockchain also records significant progress. While improvements are underway, this achievement marks a new step in the evolution of this revolutionary technology.
Eight hundred weeks and one day after its launch On January 3, 2009, Bitcoin, the world’s most valuable cryptocurrency, crossed the threshold ofa billion transactions processed, reports Cointelegraph. This significant milestone comes as the cryptosphere is going through a particularly exciting period.
Daily transactions on Bitcoin have seen a peak around the fourth halving network on April 20, with an impressive record of 926,000 transactions processed on April 23. Much of this demand is attributed to the launch of the Runes protocol, a new Bitcoin token standard, at block 840,000.
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However, despite this spike, Bitcoin’s daily transaction count fell back to 660,260 on May 4. Nevertheless, this step marks a new era for the crypto star, who has experienced a constant increase in activity over the past year.
The launch of new protocols such as Bitcoin Ordinals and Runes, as well as theBitcoin ETF introductionhave fueled this increase in activity, reinforcing bullish sentiment towards the world’s oldest and most valuable cryptocurrency.
Ethereum remains in the lead
Yes, Bitcoin has crossed the billion transactions mark, an important milestone in the history of cryptocurrency, except that its rival Ethereum still holds the record. Ethereum processed nearly 2.4 billion transactions since its launch in July 2015.
The Bitcoin network recorded an average of six transactions per second over the last 30 days, according to data from Clark Moody’s Bitcoin Dashboard. However, it should be noted that these figures do not include transactions carried out on the Lightning Network, which is mainly dedicated to micropayments. According to data from bitcoin exchange River, the Lightning Network processed a lower estimate of 6.6 million transactions in August 2023, suggesting that hundreds of millions of transactions have been carried out on this network since its launch in January 2018.
Although the price of bitcoin is up at $63,750, it is still down 13.6% from its all-time high of $73,740 reached on March 13.
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Mikaia A.
The blockchain and crypto revolution is underway! And the day when the impacts will be felt on the most vulnerable economy in this world, against all hope, I will say that I had something to do with it
