Legislation Quietly Introduced in China This Month to Make Running of Bitcoin Nodes Illegal
In China, the cryptocurrency landscape has been going through many regulatory changes as the country determines how they want to be involved in the industry. Bitcoinist, a news media website, recently gathered statistics from Earn.com, which monitors the Bitcoin Network.
The research indicated that the last two months of activity only showed a change of 75 from Chinese nodes, which is the result of recent legislation to make domestic Bitcoin node-running illegal. The rules specifically state that it is de factor illegal for the running of nodes by an
“entity or node that provides the blockchain information service to the public and the organization or organization that provides technical support for the blockchain information service.”
Presently, China has the highest number of nodes tracked with the Earn.com software, though France, Cyprus, and a section of west Africa follow in succession.
Throughout the world, the United States has the highest number of reachable nodes, accounting for 24%. The next three places on the lineup are all in Europe, including Germany, France, and the Netherlands in respective order. China, however, accounts for 4.02% now, which decreased by only 1% this month.
In November, the total public node count was over 10,000 with Bitcoin, which happened after the network changed their protocols to make it easier for anyone to run a full node. As the Lightning Network has expanded, it has boosted its own nodes, increasing by approximately 15% over the last month. At the moment, the nodes are at 5888.
The total capacity of the network reached 635 BTC, following the milestone of reaching 600 BTC just a week prior.