Bitcoin: 500 million transactions exceeded
Bitcoin: 500 million transactions exceeded
Bitcoin

Bitcoin: 500 million transactions exceeded

By Marco Cavicchioli - 5 Feb 2020

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Today the total number of transactions on the Bitcoin blockchain exceeded 500 million

The overtaking took place with the 616064th block, mined at 10:20 AM (CET) on February 5th, 2020, which contained 1,786 transactions. 

It took more than 11 years to reach the first half billion transactions, considering that the first one was recorded on January 3rd, 2009, although it will certainly take much less before it reaches one billion. 

In fact, especially since 2017, the number of daily transactions has increased significantly

During the very first years, it was difficult to exceed 10,000 transactions per day, then from 2013 the figure exceeded 50,000, and by mid-2015 it reached 100,000. 

Since then it has never fallen below 100,000 transactions per day, with a peak of over 450,000 in the days of the last big speculative bubble, in mid-December 2017. 

In the course of 2018, they had fallen again below 200,000, but since the middle of last year, the figure has been around 300,000 per day. 

Moreover, the graph of daily transactions clearly shows how, over the years, the use of Bitcoin has almost constantly increased, apart from the peak at the end of 2017 which has not yet been reached ( just like the price). 

In this regard, it is worth mentioning the tweet by hodlonaut on the 500 million transactions exceeded:

“500 million transactions confirmed on the Bitcoin blockchain. Bitcoin isn’t talking about this. Or about how revolutionary and unprecedented its traits of censorship resistance and immutability are. Bitcoin just is. And does. One block at a time”.

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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