The Bitcoin network has surpassed 500 million Bitcoin transactions, reports Decrypt. This major milestone was achieved after 11 years of the first-ever transaction.
Crypto firm Casa CTO Jameson Lopp celebrated this on Twitter.
Today, as of block 00000000000000000001145bf2e7cb7f04df55feaf3b55d9f6511522bbbf333f at height 616064, Bitcoin surpassed 500 million transactions confirmed on the blockchain. https://t.co/eVLbYnHohj
— Jameson Lopp (@lopp) February 5, 2020
The Bitcoin network has doubled its number of transactions in the last three years, rising from 250 million in 2017. According to the data site Satoshi, there has been an increase in the number of Bitcoin transactions on the blockchain per year. In 2017, it crossed 250 million transactions, before rising to 500 million today. At this rate, Bitcoin could cross 1,000 million in under two years.
Nakamoto and the late Hal Finney made the first-ever transaction on Jan. 12, 2009. Nakamoto sent Finney 10 BTC as a test. After this venture, the computer scientist began mining blocks himself. Ten months later, on Oct. 5, 2009, the New Liberty Standard set an initial Bitcoin exchange rate against the dollar. At the time, $1 was worth 2300.03 BTC.
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