Ethereum Node Count Surpasses that of Bitcoin

Ethereum nodes have outnumbered Bitcoin nodes for the second time in 2020, with support from Ethereum 2.0 genesis stakers.

As per Ethernodes.org, the number of active Ethereum nodes is 11,259, providing it an approximately 1% headway over Bitcoin’s 11,136. Ethereum’s node count last exceeded that of Bitcoin at the beginning of September.

The number of Ethereum nodes has risen by about 50% in last two weeks, increasing from 8,086 on November 15, exactly 11 days after the Eth2 deposit contract became operational. Earlier today, Ethereum’s node count surpassed that of Bitcoin.

As per Blockchain Center, the value of “Flippening” index, which reflects the robustness of Ethereum network in comparison with Bitcoin, has increased to 62.4%, from 50.5% in November, following the increase in node count.

As per the index, node count is the third key on-chain metric over which Ethereum has presently “flipped” Bitcoin, along with transaction count and transaction charges.

Etherscan has assessed that Ethereum handled roughly 1.20 million transactions in the last 24 hours, compared with Bitcoin’s 300,000. Ethereum also handled $3.60 million worth transaction fees in the past 24 hours, while Bitcoin fees were near to $1.40 million.

The Flippening Index assesses that Ethereum recorded a 2-yr high of 67.68% in terms of strength comparative to Bitcoin at the start of September due to Q3 DeFi (decentralized finance) rage.

The genesis block of Eth2’s beacon chain will be created today. The roll out of the deposit agreement permitted ETH holders to set aside their Ethereum for staking, with 524,288 Ether being necessary to trigger the roll out of the beacon chain was exceeded only hours before its time-limit on November 24.

As per Beaconcha.in, 878,808 Ether (ETH) have been transferred to the deposit agreement. The beacon chain’s first block will form the base for sharding and PoS (proof-of-stake) protocol.