Bitcoin has reached $1bn (£770m) in cumulative transaction fees, passing the major milestone on the eleventh anniversary of the world’s first cryptocurrency.
Data gathered by analytics firm Coin Metrics revealed that over 200,000 bitcoin have now been paid in transaction fees since it launched in 2009 – three months after its creator Satoshi Nakamotoa, a pseudonym, published the white paper unveiling it to the world for the first time
.Nakamoto laid out the details of a “new electronic cash system that’s fully peer-to-peer” that negated the need for banks and other third parties, on 31 October 2008.
