Altcoin News

Number of Ethereum Nodes Grows Exponentially

Jp Buntinx · @http://twitter.com/jdebunt | Jan 18, 2016 | 10:28

---

Network nodes play an important role in the security and health of any digital currency. Over the course of the past twelve months, the topic of Bitcoin nodes has been kicked around a few times, and new solutions have been found to bring plug-and-play solutions to users all over the world. The Ethereum network, on the other hand, doesn’t seem to be having any problems adding more nodes to its network.

Also read: Coinsecure Announces New Head Of Global Business Development

Ethereum Network Nodes Grow Exponentially

Even though nearly every digital currency in existence right now is competing directly with Bitcoin, the Ethereum network has proven to be something that can be beneficial to the Bitcoin ecosystem in the long run. Not every altcoin has its uses, but Ethereum seems to be on the right track as far as future blockchain technology development is concerned.

To many people, Ethereum is not as much as an altcoin, but rather an extension of the Bitcoin network. Dubbed as one of the many “Bitcoin 2.0” projects, Ethereum has a lot of potential to bring blockchain technology to a mainstream audience all over the world in the next few years. That is, assuming the development can meet consumer demand.

For the time being, very few Ethereum-based projects have come to fruition, as most of them are still in development. Not that there is anything with that, as it takes time, money, and effort to build proper platforms and tools to be used on a global scale. As far as Ethereum is concerned, there is an abundance of all three, as well as a ton of nodes to support the network.

Whereas the Bitcoin Node growth has been slowing down in the past year or so, Ethereum nodes are being deployed on a global scale like there is no tomorrow. Based on a statistic provided in the form of a screenshot, the number of nodes has grown by 30.3% in the past 24 hours alone. That is quite a staggering number, to say the least.

To be more precise, the number of Ethereum nodes has been growing spectacularly in the last week, and a growth of 424.9% has been recorded on the charts. As one would come to expect from a decentralized digital currency, the more network nodes, the more secure the system is. Plus, with a nice distribution of nodes throughout the United States, Russia, Europe, and Asia, things are looking quite good for this project.

Setting Up A Bitcoin Node Is Easier

One of the main differences between running a network node for Bitcoin or Ethereum is how easy it is to set up the first, but not the latter. Running an Ethereum node on any operating system will require a fair amount of tinkering and scripting although detailed instructions are provided on Gitbooks. Bitcoin, on the other hand, just requires the client to be run on any device, and the right ports to be forward.

However, the growth in number of Ethereum nodes can not be denied, even if there is no plug-and-play solution available to users just yet. While Bitcoin may have a leg up over its “competitors” in that regard, the popular digital currency needs to come up with new ways to boost its number of nodes very soon.

What are your thoughts on the Ethereum node growth? What can Bitcoin do to experience similar increases? Let us know in the comments below!

Source: News Tip Via Email

Images courtesy of Shutterstock, Ethereum