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Bitcoin Transactions Break Half a Billion

By February 6, 2020May 5th, 2021No Comments

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.

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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