One of the prominent <a href="https://www.cryptoknowmics.com/news/a-beginners-guide-on-how-to-become-blockchain-developer-after-12th-standard/">Bitcoin developer</a> Luke Dashjr, on May 04, 2020, calculated the total nodes of Bitcoin and estimated that for the first time, since the year 2017, it falls below 47,000.

In January 2018, the number of operational nodes reaches its peak over 200,000 but since then it has been declining continuously.
<h2>Bitcoin Developer’s Tally Based On Estimated Data</h2>
This fall of nodes shows that in recent time, very few numbers of people perform transaction validation and secure the copy of the network’s shared transaction history.

The Bitcoin nodes are falling at the same time when its price and even mining power is going up.

The nodes calculation of Bitcoin is totally based on the estimated data which has been collected from opinions on the best methodology.

Dashjr’s prediction is based on an undisclosed proprietary methodology which is monotonous. According to the author of that methodology, if the undisclosed technique is released then the reliability of data would be jeopardized.
<h2>Bitnode Supports Developer’s Report</h2>
A global bitcoin nodes distribution network, Bitnodes, also <a href="https://bitnodes.io/" target="_blank" rel="noopener">tallied</a> the nodes of the Bitcoin and according to its report, in mid-March, Bitcoin IPv4 nodes have experienced a fall in the numbers, which it has not seen in years.

Bitnodes data confirms that Dashjr’s report regarding Bitcoin nodes is almost correct.

The data by Bitnodes has shown that since November 2019, the Bitcoin node is using onion services which helps it to grow.

Dashjr mentioned that the last bull cycle of Bitcoin was anticipated by the new Bitcoin nodes spikes which were coming online.

Although, the Bitcoin has been experiencing a relatively bull price action for a long time, still since April 2019, the total node count estimate was falling regularly.

The recent market crash in March 2020, became one of the reasons, the investors and the node operators lost their interest in nodes.

The CTO and co-founder of Casa, Jameson Lopp, recently has said that according to him, the Bitcoin nodes which were running continuously even after the market crash, were the nodes of the last resort.

Later many other people shut off their Bitcoin nodes because running the software has become so hard for them.

Regarding it, Dashjr has said, “Running a [Bitcoin] node continues to get harder and harder with block sizes exceeding the rate of technological improvement”.

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Bitcoin Developer Data Shows Fall In Its Node Despite Price Surge

Bitcoin developer Luke Dashjr calculated the total nodes of Bitcoin and estimated that for the first time, since the year 2017, it falls below 47,000.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Bitcoin Developer Data Shows Fall In Its Node Despite Price Surge

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