New Bitnodes Data Reveals Nearly 1 out of 5 Bitcoin (BTC) Nodes are Operating in Germany
Germany has one of the highest BTC node concentrations. This follows a trend where Europe and North America have continued to play an important role in preventing double spend.
Data collected by Bitnodes recently discovered that Germany accounts for about a fifth of all BTC nodes. This means that of all the 10,164 nodes in the world today, about 1933 are in Germany, which is about 19% of all nodes.
This makes it second to the US, which has the most nodes. Today, there are 2495 nodes located in the US. This is about 24.5% of all nodes in the world. France comes in third with about 675 nodes.
How The Rest Of The World Looks Like
The other top 10 nations in the West, including global hubs for crypto like Japan and Singapore, own only 5% of all other nodes. Even South Korea only has about 200 nodes. This represents about 4.8% of all nodes, which is just a bit higher than in the Netherlands. China, which has a very active BTC mining sector, holds about 4% of all nodes. Of the 102 nations in the report, about 28 had only one working nodes.
How The Nodes Work
Nodes are used to validate BTC transactions. They use the core client to download blocks. These blocks are cross-referenced with the network consensus rules. The nodes can also relay the data with other nodes to ensure better validation. If nodes find any inconsistencies, the transaction is rejected.
Since nodes safeguard the network from double spending, the networks become more secure when they are working. Since running nodes is informal, most of them work on a volunteer basis. They usually operate on spare bandwidth and computation power. Bitnodes collects the information by sending requests for details to each node. They are considered an active node if they have been in operation for over 3 hours.
Crypto And Germany
Germany has a mature startup scene and cheap office space. This makes Berlin one of the best destinations for setting up crypto companies. Development teams that are working on Lisk and IOTA are based in the city of Berlin. In the sector of Kreuzberg, a bar became the first physical place to accept BTC payments.
The head of marketing at Lisk recently claimed that the high number of nodes in the nation shows the growing of crypto in its biggest cities. He added that in cities like Hamburg, Frankfurt, and Munich were embracing blockchain tech that was being used by companies and individuals. He said that blockchain tech was doing especially well in the city of Berlin. Thus, BTC nodes only represented a small piece of what Berlin was doing with crypto.
BTC Node Distribution
In the past, crypto opponents have said that too much mining power is located in China. As such, this might cause China to manipulate BTC. However, this node distribution could help to eliminate those fears. This is because China holds only 4% of the nodes. It will help users to feel that BTC is democratized.