The Bitcoin network has processed one billion transactions, 15 years, four months, and four days after Satoshi Nakamoto mined the genesis block.
Bitcoin has surpassed a milestone transaction count of one billion.
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Posted May 6, 2024 at 1:59 am EST.
The Bitcoin network has hit a new milestone as the number of transactions processed on the blockchain exceeded one billion on Sunday.
Data from Clark Moody’s dashboard shows that total all-time transactions now stands at over 1,000,140,825, while mempool data shows that the billionth transaction was mined into block 842,241 by Foundry pool.
JUST IN ‼️ – #Bitcoin has officially processed over 1 BILLION transactions.
🚀🚀🚀 pic.twitter.com/yxcLMefHIh
— Swan (@Swan) May 5, 2024
The milestone transaction comes 15 years, four months and four days after Satoshi Nakamoto mined the genesis block on Jan. 3, 2009.
The network saw a considerable uptick in transaction activity in the leadup to the fourth Bitcoin halving, and over the days that followed, with much of this demand for blockspace being driven by the launch of the Runes protocol.
It is worth noting that Ethereum, the second largest blockchain by market capitalization, has processed more than two billion transactions, despite launching six years after Bitcoin. and averages at over one million transactions per day. Research from Yearn contributor “banteg” noted that as of September, nearly half of Ethereum’s 2.1 billion transactions were sent with a non zero ether value.
out of 2.1 billion transactions on ethereum, 1.018 billion were sent with a non zero ether value.
this chart shows the distribution of values sent. the most popular amount is 0.05 eth, followed by 0.1 eth, 1 eth, 0.2 eth, 0.01 eth.
the query took around 6.5 mins to compute. pic.twitter.com/c5PYfb6kPl
— banteg (@bantg) September 28, 2023
A higher transaction count is indicative of more network activity, but that also typically comes at the cost of higher than average transaction fees. Notably, data from DeFiLlama shows that the Bitcoin network recorded $284 million worth of transaction fees over the last 30 days, while Ethereum recorded $173 million.
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- Source: https://unchainedcrypto.com/bitcoin-has-processed-one-billion-transactions/
