While everyone is making predictions about whether or not 2023 would be as tough for the crypto sector as 2022, some interesting data show that it is not all about the price per asset. According to data from Bitcoin Nodes, it is Frankfurt am Main that is surpassing the other cities in terms of active Bitcoin nodes, with the data compiled from over 5773 cities across 134 countries.
Interestingly, Germany ranks second in total Bitcoin nodes deployed, as the data shows a 13.83% share for the country or 4529 nodes. The result is shadowed only by the United States with 30.53%., and 9999 nodes, respectively. The top 10 list of countries continues with Canada, the Netherlands, Russia, France, the U.K., China, Japan, and Finland.
The Bitcoin mining scene, however, changed dramatically when China imposed a ban on crypto mining and when Russia had to witness the sanctions due to the military operation in Ukraine. Russia, despite its difficulties, ranks fifth, with a total of 1391 running nodes (4,25%), while China is eighth with 1009 nodes (3.08%).
Apart from Frankfurt, the rest of the top 10 cities with the highest Bitcoin nodes includes Helsinki, Toronto, London, Amsterdam, Moscow, Tokyo, Dublin, and Nuremberg.
Why are Bitcoin nodes so important?
The proof-of-work (PoW) consensus mechanism works by solving difficult math equations by a distributed network of computers known as Bitcoin nodes, which are used to validate and broadcast transactions on the blockchain.
The Bitcoin network, however, was often criticized for increased centralization and unanimity, which are among the key problems Satoshi Nakamoto described in its Bitcoin whitepaper in 2009. The data from Blockchain nodes suggests a different story – a total of 5865 nodes, or almost 18% of the entire nodes in operation, are without clear attribution to any specific location due to internet service provider firewalls and private networks, which brings Nakamoto’s vision back to life.
Interestingly, over 60% of the nodes run on IPv4 protocols, while 14% run on IPv6 protocols, and more than 25% run anonymously opinion.