Bitcoin Network Hit One Billion Transactions Milestone
TECH DIGEST- In a historic moment for the digital currency world, the Bitcoin Network has achieved an unparalleled feat, processing its one billionth transaction after 15 years of operation.
As reported by CoinTelegraph, the landmark transaction, numbered 1,000,000,000, was officially confirmed in block 842,241, marking a pivotal moment in the evolution of Bitcoin. Clark Moodys dashboard, a trusted Bitcoin user, played a pivotal role in tracking this significant event, noting the occurrence at precisely 9:34 pm UTC on May 5.
This milestone arrives exactly 15 years, four months, and four days after the inception of Bitcoin, with its enigmatic creator, Satoshi Nakamoto, mining the networks inaugural block on January 3, 2009.
Throughout its remarkable journey spanning 5,603 days, the Bitcoin network has consistently processed an average of 178,475 daily transactions, showcasing its robustness and resilience in the face of evolving market dynamics.
The surge in daily transactions during Bitcoins fourth halving event on April 20 captured global attention, peaking at a record high of 926,000 transactions on April 23. However, the subsequent decline in daily transaction volume, totalling 660,260 on May 4, suggests a period of consolidation and recalibration within the Bitcoin ecosystem.
Despite recent fluctuations, Bitcoins current price stands at $63,750, reflecting a notable increase of over 12% since hitting a two-month low of $56,800 on May 2. Nonetheless, it remains down by 13.6% from its all-time high of $73,740, recorded on March 13.
