The total number of Bitcoin nodes has exceeded 100,000 and not 10,000 nodes, as popularly believed.
The confusion over how many nodes are actually in the Bitcoin network is due to incorrect reporting by mainstream cryptocurrency data platforms, as well as a misunderstanding between listening nodes and full nodes.
To begin unraveling the confusion between the two, let’s start with the differences between full nodes and listening nodes and then move on to hard data that backs up our claims.
Bitcoin full nodes
First, a bitcoin full node is any computer that connects to the bitcoin network. The most popular Bitcoin nodes run Bitcoin Core and serve a vital role in the network maintaining consensus. Specifically, bitcoin full nodes make sure the network follows its prescribed rules such as controlling the number of bitcoins per block and to prevent double spending.
The number of full nodes is significantly higher than the believed number as evidenced by the below graph:
The implication of there being more nodes than the reported…