The number of nodes in the Bitcoin Blockchain network increased to establish a new all-time high. The reasons for this could be found in the low confidence of users in custody solutions. Also, the recent update of the “Satoshi client” or Bitcoin Core, plays its part.
Thus, the number of active nodes on the network reaches 11,674 according to data from Bitnodes.io. For its part, another analytic, Coin.dance places the number at 11,613.
In either case, the number of nodes exceeds the historical record that had been reached last year of 11,250. The release of version 0.21.0 of Bitcoin Core could be one of those responsible for a new interest in the installation of these software.
What is behind this comeback of the Bitcoin nodes?
The fact that Bitcoin nodes rose to a record number has another factor as well. It is about the increase in user distrust in custody solutions, which are increasingly demanding. This fact has pushed people to create their own nodes.
This, together with the appearance on January 14 of the new Bitcoin Core update, increases the interest in the installation of these softwares. Now, the new update has more than 619 active nodes, which represents 5.5% of all nodes running on the network.
It should be noted that version 0.20.1, prior to the current one, continues to be the most popular and contains about 5000 nodes. However, it should be noted that the latest version is only a week old. Thus, it is the fourth most used, which can be taken as an indication of the magnitude it could reach.
One of the most outstanding qualities of the latest version is that it is friendly with the implementation of Taproot’s consensus rules. The latter should be remembered, it is an update of the pioneering cryptocurrency Blockchain network to improve many of its functionalities. This could explain why Bitcoin nodes increased significantly.
How is the compatibility of Taproot and the Bitcoin Core update?
As highlighted above, the latest version of the “Satoshi client” from January 14th is harmonious with Taproot. Thus, the update consensus rules can be compatible and tested with version 0.21.0 without having to be activated on the mainnet or main network.
This fact makes it very attractive to the new Bitcoin nodes that are emerging.
The importance of Taproot is that this update will increase the security levels of transactions. It, explains CoinTelegraph, allows you to suppress the visibility of “spending conditions that are unnecessarily exposed in previous implementations.”
Another aspect of no less importance is that some of the properties of the update open the door to the massification of Bitcoin. In other words, the differentiating characteristics of the transactions are eliminated. With this, it will be possible to turn the queen cryptocurrency into a more fungible asset.
Hidden Tor network is priority
The Bitcoin nodes, did not increase lightly. Consequently, the majority of them could be oriented to the hidden Tor network. This remains the most dominant, since 25% of all active nodes of the Bitcoin Blockchain network are located in it.
Consequently, the fundamentals of Tor version 3 allow transactions to access many security options. Among these, the possibility of adding a privacy layer by hiding the IP address of the nodes stands out.
Data to take into consideration
- The fact that the Bitcoin nodes increased to a record number, makes it clear that the new version of the “Satoshi client”, arouses interest.
- The version 0.20.0 of the Bitcoin Core, harmonizes in an advanced way with the Taproot update.
- As explained in CryptoTendency, Taproot increases the levels of security in transactions.
- Another fact that drives the rise of Bitcoin nodes is the growing distrust of users in escrow solutions.