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The Bitcoin blockchain has processed 1 billion transactions, 15 years after its creation
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Today the Bitcoin network reached a significant milestone by processing its billionth transaction, marking a momentous occasion in the cryptocurrency’s approximately 15-year history.
The milestone was reached on May 5, 2023, at 21:34 UTC, when transaction no. 1,000,000,000 was mined in block 842,241.
This milestone event comes 15 years, four months and four days after Bitcoin’s pseudonymous creator, Satoshi Nakamoto, mined the network’s first block on January 3, 2009. Over the course of its 5,603 days of existence, Bitcoin has processed an average of 178,475 blocks per day transactions.
Notably, however, this transaction count does not include those made on the Lightning Network, a layer 2 Bitcoin network.
This milestone comes at an exciting time for Bitcoin, which has seen higher levels of daily transactions over the past year thanks to new protocols like Bitcoin ordinals AND Runes attract more business to the world’s first blockchain. The launch of Bitcoin spot ETFs also contributed to the bullish sentiment for the token.
Daily Bitcoin transactions have increased exponentially across the network fourth halving event on April 20, including a record 926,000 transactions processed on April 23. Much of this demand can be attributed to the launch of the Runes Protocol, a new Bitcoin token standard, at block 840,000. However, Bitcoin’s daily transaction count dropped to 660,260 on May 4.
However, Bitcoin is not the first blockchain to process over a billion transactions. Ethereum, for example, has processed over 2 billion transactions, despite being launched about six years after Bitcoin.
Bitcoin is currently trading at the $63,700 level, marking a 12% increase in price rebound from the two-month low of $56,800 on May 2. It is still down 13.6% from its previous all-time high of $73,740 set on March 13. this year.
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