💥💥💥 #bitcoin reaches one billion transactions

Bitcoin has reached a significant milestone as it processes its one billionth transaction, marking a monumental moment for the network since its inception 15 years ago.

According to Clark Moody’s Bitcoin dashboard, the landmark transaction, numbered 1,000,000,000, was recorded in block 842,241 at 9:34 pm UTC on May 5. This achievement comes 15 years, four months, and four days after the network's first block was mined by the pseudonymous creator, #satoshiNakamoto , on January 3, 2009.

Throughout its 5,603-day existence, the Bitcoin network has handled an average of 178,475 daily transactions.

Data from the Bitcoin-exclusive exchange River indicates that the Lightning Network alone processed an estimated minimum of 6.6 million transactions in August 2023. This suggests that the Lightning Network has facilitated hundreds of millions of transactions since its launch in January 2018.

Bitcoin experienced a surge in daily transactions surrounding its fourth halving event on April 20, reaching a record high of 926,000 transactions on April 23. Much of this increased activity was attributed to the launch of the Runes protocol at block 840,000.

However, the daily transaction count on Bitcoin has since tapered off, registering 660,260 transactions on May 4.

While Bitcoin holds the title as the oldest #cryptocurrency network, it is not the first to process one billion transactions. Its primary competitor, Ethereum, has surpassed two billion transactions since its launch in July 2015, according to data from Etherscan.

Source - cointelegraph.com

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