The Bitcoin network continues to grow and evolve every single day. Several interesting statistics become apparent over time, including the current block height and percentage of BTC issued. Crucial milestones are on the horizon for the world’s leading cryptocurrency.
Closing In On 700,000 Bitcoin Blocks
It may seem somewhat unreal, but the Bitcoin network has processed its fair share of data over the past 12 years. What initially began as a very niche experiment is now a global phenomenon. The network is closing in on 700,000 network blocks processed since day one. Although there are still roughly 20.000 blocks to go, there is no reason to doubt the next major milestone of 700,.000 will be reached shortly.
To onlookers, this may not seem like a significant number. However, processing that much data and so many transactions in these blocks without any significant problems is a considerable feat. For a network that relies solely on computer code and the support of its community, milestones like these are something special. The network has never seen any real problems along the way, confirming the viability of what Satoshi Nakamoto built over a decade ago.
Nearly 90% Issued
One of the exciting things about Bitcoin is how the network works and its coin emission. Contrary to what some people may expect, there will be an ongoing emission of BTC until the year 2140. That may seem strange, considering how the vast majority of the bitcoins are already in circulation today. Speaking of which, the current emission is nearly 89%, meaning that 90% is within reach too. Seeing this level be reached without significant network issues is another crucial milestone for this cryptocurrency ecosystem.
Considering how such a majority of the coins are already in circulation today, there is still a lot to look forward to. Just because such a large portion of the supply is in circulation, that doesn’t mean there won’t be a future price increase. Bitcoin is, unlike most other financial assets, very limited in supply. Acquiring it at the right time is essential. The supply is being bought up quicker and quicker every day.
Stable Bitcoin Block Time
Perhaps the most intriguing statistic of the Bitcoin ecosystem is the block time and how it remains stable. Over the past 12 years and change, the network maintains its average block time of just under ten minutes. With an average time of 9 minutes and 55 seconds, any form of network congestion doesn’t affect Bitcoin in a significant manner.
Although there are times when the network may not find a block for an hour or longer, those issues are often resolved quickly. In the grand scheme of things, these incidents do not matter all that much. It can cause a minor inconvenience, but overall, users will not experience too many problems. Maintaining such a high level of dependency is essential to give Bitcoin a more mainstream appeal.