Just five countries control 30% of all available Bitcoin nodes globally
As Bitcoin (BTC) continues to gain adoption, the relative size of the peer-to-peer (P2P) network can be examined by analyzing the distribution of available Bitcoin nodes across leading countries.
Specifically, as much as 30.3% of the world’s available Bitcoin nodes are located in five countries – the United States, Germany, France, the Netherlands and Canada, according to the data obtained by Finbold from the BTC-node analytics platform Bit nodes on 24 October.
As the chart showing the distribution of available Bitcoin nodes across leading countries shows, the United States is the leader among these countries, with 1,844 or 13.2% of available nodes, followed by Germany with 1,362 or 9.8% nodes, and France with 434 or 3.1%.
The Netherlands is in fourth place with 374 or 2.7% of available Bitcoin nodes, while fifth is Canada, which has 297 or 2.1% of the world’s available BTC nodes.
Reachable Versus Unreachable Bitcoin Nodes
In contrast to unreachable node, a reachable Bitcoin node refers to a device or software running the Bitcoin mining protocol and securing the network, that can be directly connected to, that has not yet reached the maximum number of allowed connections, or is currently not . in the process of syncing up to the latest blocks.
In general, Bitcoin nodes keep the database of all BTC transactions, in whole or in part, and are connected to each other to verify transactions, maintain consensus rules, and vote on proposals.
Bit nodes calculates the relative size of the Bitcoin P2P network by locating all its reachable nodes, by sending getaddr messages recursively to find all reachable nodes in the network, starting from a set of set nodes.
In particular, the platform uses Bitcoin protocol version 70001 (ie >= /Satoshi:0.8.x/), skipping the nodes running an older protocol version.
Available Bitcoin nodes still present in China
Meanwhile, relevant data has shown that there are still dozens of Bitcoin nodes available in China despite the nationwide ban on crypto mining, although their number has decreased from 94 in June to the current 65, according to the latest data from the crypto. analysis platform Bitrawr.
That said, the country’s anti-crypto stance actually appears to be relaxing, as a Chinese court recently ruled that investors interested in trading cryptocurrencies can still do so, as long as these are treated as virtual assets and do not act as a currency, like Finbold. reported.
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