Bitcoin Marks Historic Milestone with 1 Billionth Transaction After 15 Years
Bitcoin, the pioneering cryptocurrency, has achieved a remarkable milestone by processing its billionth transaction since its inception 15 years ago, as reported by Clark Moody.
The significant event took place on May 5, with transaction number 1,000,000,000 recorded in block 842,241 at 9:34 pm UTC.
Over its 5,603-day history, Bitcoin has averaged 178,475 daily transactions, excluding Lightning Network transactions.
The Lightning Network, which focuses on facilitating micropayments, has witnessed substantial activity, with an estimated 6.6 million transactions processed in August 2023 alone, indicating robust engagement since its launch in January 2018.
#Bitcoin has officially processed over 1 billion transactions. pic.twitter.com/kS704YYoW5
— Wicked (@w_s_bitcoin) May 5, 2024
Bitcoin experienced a surge in daily transactions following its fourth halving event on April 20, reaching a record high of 926,000 transactions on April 23.
This surge was partly attributed to the launch of the Runes protocol.
Although Bitcoin’s daily transactions have moderated to 660,260 on May 4, its competitor Ethereum has processed over 2 billion transactions since its inception in July 2015.
Currently, Bitcoin’s price stands at $63,910, marking a 12.5% increase from a recent low but a 13.1% decrease from its peak in March.
The achievement of processing its billionth transaction underscores Bitcoin’s enduring relevance and robust transactional capabilities, even amidst competition from rivals like Ethereum.
For more Web3 news, check out the XGA newsfeed.
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