Unlock new milestones! Bitcoin handles over 1 billion transactions

According to ClarkMoody data, the Bitcoin network has completed the 1 billionth transaction. This transaction was born at block height 842,241 at 05:34 on May 6, Beijing time: 43. It has been 15 years, four months and four days since the anonymous inventor of Bitcoin, Satoshi Nakamoto, mined the genesis block on January 3, 2009.

Bitcoin hit a single-day record of 926,000 transactions on April 23

Scalability is a concern

Although Hitting the milestone of 1 billion transactions, Bitcoin’s scalability is still a concern. Analyst Colin Talks Crypto tweeted that as Bitcoin continues to grow, issues related to Bitcoin’s expansion still exist.

Colin Talks Crypto predicts that the price of Bitcoin will reach an exciting peak in the future, leading to massive network congestion and skyrocketing transaction fees, making transaction fees unaffordable for many people, and transaction fees may be 90% higher than The balance of Bitcoin holding addresses is even higher, so the block size will eventually need to be increased.

Colin Talks Crypto also criticized the feasibility of the Lightning Network, believing that the Lightning Network cannot solve the core problems of the base layer.

Ethereum has processed over 2 billion transactions

Although Bitcoin is the oldest blockchain, it is not the first to reach 1 billion transactions , Etherscan data shows that Ethereum has processed nearly 2.4 billion transactions since its launch in July 2015.

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