In the world of cryptocurrency, Bitcoin has always been in the spotlight. Recently, Bitcoin achieved a milestone by processing over 1 billion transactions, marking the digital currency’s tremendous growth and ever-expanding applications. Let’s dive into the technical innovation, market impact, and future prospects behind Bitcoin’s ability to handle such huge transaction volumes.

Bitcoin’s success is inseparable from its unique blockchain technology. As the first widely adopted cryptocurrency, Bitcoin's blockchain system has attracted more and more users and investors through its decentralization, high security, and strong anonymity. As the scale of the Bitcoin network continues to expand, its ability to process transactions has also been greatly improved. The successful processing of 1 billion transactions is the best proof of its efficiency and reliability.

In this digital era, Bitcoin's success also reflects people's urgent need for transformation and innovation in the financial field. The cumbersome processes, high fees and limitations of centralized management in the traditional financial system have made cryptocurrency, a decentralized and transparent new payment method, very popular. Bitcoin's ability to handle 1 billion transactions is not only a technological breakthrough, but also a subversion and challenge to the traditional financial system.

In addition to technological innovation and market demand, Bitcoin's success is also inseparable from global regulation and recognition. As governments and regulatory agencies around the world become more open and inclusive towards cryptocurrencies, Bitcoin is able to develop and grow better. The achievement of processing 1 billion transactions has also provided strong support for Bitcoin’s legal status and market recognition around the world, laying a solid foundation for its future development.

How will Bitcoin develop in the future? This is a topic that concerns many people. With the continuous innovation and improvement of blockchain technology, Bitcoin is expected to further increase transaction speed, reduce costs, and achieve a wider range of application scenarios. At the same time, as the global digitalization process accelerates, Bitcoin's status as a global digital currency will be further consolidated, contributing more to the development of the digital economy and the transformation of the financial system.

Overall, Bitcoin’s new milestone of processing 1 billion transactions is not only an affirmation of its technical strength and market recognition, but also a testimony of continuous innovation and progress in the field of digital currency. In the future, Bitcoin is expected to continue to lead the development trend of digital currencies and bring more changes and opportunities to the global financial system. Let us wait and see to witness the next glorious moment of Bitcoin!

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Coin Circle (120BTC.com) News: According to ClarkMoody data, the Bitcoin network has completed the 1 billionth transaction. This transaction was born at block height 842,241 at 05:34:43 on May 6, Beijing time, since After the anonymous inventor of Bitcoin, Satoshi Nakamoto, mined the genesis block on January 3, 2009, 15 years, four months and four days passed.

Bitcoin’s average number of transactions per second over the past 30 days was only 6. Over the 5,603 days of Bitcoin’s existence, the Bitcoin network processed an average of 178,475 transactions per day, but this number does not include transactions conducted on the Lightning Network. , the Lightning Network is a Bitcoin Layer 2 payment protocol designed to enable fast transactions between participating nodes.

River, a dedicated Bitcoin trading platform, previously released a report stating that in August 2023 alone, the Lightning Network processed at least 6.6 million transactions. Since the launch of the Lightning Network in January 2018, hundreds of millions of transactions have been completed so far.

Before and after Bitcoin ushered in its fourth halving on April 20, its number of transactions soared, setting a record of 926,000 transactions in a single day on April 23. This was mainly due to the fact that the Bitcoin halving started at the same time. Driven by the craze set off by Runes, however, the number of daily Bitcoin transactions began to decline, falling to 660,260 on the 4th.

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

 Scalability a big concern

Despite reaching 1 billion transaction milestone, Bitcoin’s scalability remains 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. Transaction fees may be greater than the balance of 90% of Bitcoin holding addresses. is higher, so eventually the block size needs 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 since its launch in July 2015. transactions.