Home News 1 billion transactions processed

1 billion transactions processed

9

[ad_1]

More than 1 billion transactions have been processed on the Bitcoin network, the main chain of the most important digital asset on the market, marking a historical record for the pioneering digital currency network and its use as a vehicle to carry out monetary operations.

According to monitoring server Clark Moody, the global transaction count reveals that more than 1 billion operations have been successfully processed on the Bitcoin network.

Over a 30-day period, 6.1 transactions per second were executed on the Bitcoin chain. In that same period, 15.5 million operations were processedaccording to Clark Moody.

More than 1 billion transactions have already been processed in Bitcoin. Source: Clark Moody.

The more than one billion transactions processed on the Bitcoin network mean that, in the lifetime of Satoshi Nakamoto’s invention, They have processed an average of 178,400 BTC transactions daily.

It must be remembered that in the Bitcoin network, transactions are processed by miners. Now, this Clark Moody count does not take into consideration the transactions processed by Bitcoin’s Lightning network, which is the second-layer solution focused on micropayments. There are estimates that millions of daily bitcoin transactions are executed through this network.

Likewise, it must be considered that the milestone of one billion transactions processed in Bitcoin is lower than that reached by the Ethereum network, which processes an average of 1.14 million transactions per day, according to Etherscan.

Ordinals and Runes drive transactions

The milestone of 1 billion transactions processed on the Bitcoin network was boosted by the arrival of the Ordinals and Runes protocols. Through these, tokens and different files can be registered in the pioneer asset chain, which increases the use cases and, in turn, the number of transactions.

Only Runes, which was the protocol to improve BRC-20 tokens, has come to encompass more than half of daily transactions on the Bitcoin network since late last month, when it was implemented by Ordinals developer Casey Rodarmor.

As shown by Dune Analytics, Runes transactions comprise, as of last weekend, more than 60% of the daily operations executed on the Bitcoin network. This indicates a resurgence of interest in the protocolwhich was downgraded a couple of weeks after its release.

Since last weekend, Runes transactions have covered more than 60% of the daily operations processed – Source: Dune Analytics.

To contextualize it better, on May 4 421,748 Runes transactions were carried out on the Bitcoin network and 2,807 from Ordinals. Instead, 230,276 trades were made on the BTC main chain. The story was similar the next day, when 304,306 Runes transactions were executed in Bitcoin, 1,354 in Ordinals and 193,439 through the traditional route.

Bitcoin miners are the most favored as there is greater interest in Runes, since, as transactions increase, the network becomes congested. This results in an increase in commissionswhich are a fundamental part of the reward for mining Bitcoin.