One fifth of all Bitcoin (BTC) nodes are run from Germany

23 Jan, 2019
by David Robb
Analysis
One fifth of all Bitcoin (BTC) nodes are run from Germany

According to data collected by cryptocurrency statistics site Bitnodes, users in Germany make up a significant part of the Bitcoin (BTC) network. One fifth of all BTC nodes are run from the country.

A total of 10,164 BTC nodes were found by the survey, of which 1933 were based in Germany. This is only slightly less than the whole of the U.S., whose 2495 nodes account for 24.5% of the total network. Behind Germany, France is in third place with a total of 675 nodes.

Despite being seen as crypto hubs, Asian nations like Singapore and South Korea accounted for around 5 percent of the total nodes each. China, which dominates the Bitcoin mining sector, runs just 4 percent of the network.

Read more: Strong institutional interest in crypto in South Korea: 'New use cases will help'

Germany's high number of nodes can be explained by the country's economic power as well as the relatively youthful population of a cultural hub like Berlin. The capital city has lots of cheap office space and a strong startup scene, and developer teams behind Lisk (LSK) and IOTA (MIOTA) are based there.

In an interview with CryptoBriefing, Lisk’s Head of Marketing Thomas Schrouten said that these statistics "showing a significant concentration of Bitcoin nodes in Germany illustrate a bigger trend within the country. From Berlin and Hamburg to Munich and Frankfurt, blockchain technology is used and developed by individuals and companies alike. The Berlin scene especially is growing incredibly fast. Bitcoin nodes are just the tip of the iceberg."

Read more: What are Bitcoin whales and do they really control the market?

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Read more about:Bitcoin (BTC)

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