The Bitcoin network has processed its one billionth transaction – marking a significant milestone for the network after 15 years since its inception.
Data elsewhere from Bitcoin dashboard Clark Moody shows the 1,000,000,000th transaction has been reached – mined at block 842,241 at 9:34pm UTC on May 5.
Since Bitcoin’s (BTC) pseudonymous creator Satoshi Nakamoto mined the genesis block on January 3, 2009, more than 15 years ago, the Bitcoin network had processed an average of approximately 178,475 transactions per day across its 5,603 days of operation.
In August 2023, the Lightning Network processed approximately 6.6 million transactions, suggesting that hundreds of millions of transactions have been processed on it since its launch in 2018.
Bitcoin’s fourth halving event on April 20 spurred an increase in the number of daily transactions, with a record 926,000 transactions being recorded on April 23.
The launch of the Runes protocol contributed significantly to this demand. Despite Bitcoin’s status as the oldest cryptocurrency network, it is not the first to process one billion transactions.
Data from Etherscan suggests that Bitcoin’s largest rival – Ethereum – has processed over two billion transactions since its launch in July 2015.
Further reading: GBTC sees first inflows in nearly four months
