Bitcoin nodes continue to fall

The total number of cryptocurrencies available decreased to 47,000, days prior to the halving phenomenon

As reported online, bitcoin’s nodes fell below 47,000 earlier this week, a phenomenon not seen since 2017.

According to figures presented by bitcoin developer Luke Dashjr, the figures show the steady decline of nodes from the peak of over 200,000 seen in January 2018.

Fewer nodes means that there are fewer computers participating, storing copies of the blockchain and validating new transactions on the bitcoin network. The decline comes noticeably at a time when the price of the cryptocurrency is rising and its hash rate is nearing its all-time highs.

The determination of this amount depends clearly on the estimates and not on the actual data, as indicated by Dashjr, who also indicated that “his estimate is based on a tedious and undisclosed methodology that can be compromised if revealed.”

Previous valuation cycles, according to Dashjr, were preceded by spikes in the number of active bitcoin nodes. Since April last year, the number of active nodes has been decreasing, despite the positive evolution of the market.

This behavior is estimated to be because some operators have begun to lose interest, given the fall in the cryptocurrency market and the delay in the recovery of the previous highs.

K. Tovar

Source: Cointelegraph

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