Ethereum flips Bitcoin’s node depend

Ethereum 2.0 genesis stakers have pushed the overall variety of Ethereum nodes previous the variety of Bitcoin nodes for the second time this yr.

Based on Ethernodes.org, 11,259 Ethereum nodes are at the moment energetic, giving it a roughly 1% lead over Bitcoin’s 11,136. Ethereum’s node depend final surpassed Bitcoin’s in early September.

The variety of Ethereum nodes has elevated by greater than 50% up to now two weeks or so, spiking from 8,086 on Nov. 15 — 11 days after the Eth2 deposit contract went reside. Ethereum’s node depend overtook Bitcoin’s on Nov. 30.

Ethereum historic node depend: Ethernodes.org

Based on Blockchain Heart’s “Flippening” index — which seeks to trace the energy of Ethereum’s community relative to Bitcoin — the surge in node counts has seen the index acquire from 50.5% to 62.4% over the course of November.

The Flippening Index: Blockchain Heart

Based on the index, node depend is the third main on-chain metric on which Ethereum has at the moment “flipped” Bitcoin, alongside transaction depend and transaction charges.

Etherscan estimates that Ethereum processed practically 1.2 million transactions up to now 24 hours, in comparison with Bitcoin’s 300,000. Ethereum additionally processed $3.6 million value of transaction charges within the final 24 hours, whereas Bitcoin charges have been value near $1.4 million.

The Flippening Index estimates that Ethereum posted a two-year excessive of 67.68% for energy relative to Bitcoin in early September because of the third-quarter DeFi growth.

Eth2’s beacon chain genesis kicks off in only a few hours from now. The launch of the deposit contract allowed ETH holders to designate their Ethereum for staking, with the 524,288 Ether required to provoke the launch of the beacon chain being surpassed simply hours earlier than its deadline on Nov. 24.

Based on Beaconcha.in, 878,808 Ether have now been despatched to the deposit contract. The beacon chain’s genesis will lay the groundwork for sharding and proof-of-stake.