74% of All Bitcoin Nodes Are Located in 10 Countries, Data Shows

Data shows that 74% of all nodes on the Bitcoin network are located in only 10 countries, with the United States leading the pack, followed by countries in Europe and China.

Data from cryptocurrency analytics platform Data Light shows that in the US alone, there are 2,625 nodes. The American lead if followed by Germany, where there are 2016, and by France where there are 698. These three countries alone have over 50% of the nodes on the flagship cryptocurrency’s network.

The Netherlands, China, and Canada followed suit, with countries like Ukraine, Brazil and Lithuania still being included in the top 20, having over 86 nodes. Countries that aren’t in the top 20 notably account for only 1,441 nodes.

China is a country to look further into. While the majority of the network’s hashrate is located in the country – thanks to access to cheap energy sources – it only has 411 nodes. As The Next Web noted, China has, according to research, the power to potentially “derail Bitcoin and illicitly influence its network” thanks to the miners in the country.

Singapore and the Netherlands are also located in the top 20. These two countries are relatively small, and as such represent the greatest Bitcoin nodes per capita density, at 17,700 and 32,000 citizens per node, respectively.

The US, on the other hand, has 120,000 citizens per Bitcoin node. These nodes, according to Bitcoin.org, help validate transactions on the network.

A full node is a program that fully validates transactions and blocks. Almost all full nodes also help the network by accepting transactions and blocks from other full nodes, validating those transactions and blocks, and then relaying them to further full nodes.

Various cryptocurrency enthusiasts encourage users to run full nodes, in a bid to help decentralize the cryptocurrency and avoid the existence of a single point of failure. Famously, the first person whose identity is known to run a Bitcoin node was Hal Finney.

Hal was on the receiving end of the first-ever Bitcoin transaction, as he received 10 BTC from Satoshi Nakamoto himself. For users in certain countries running a Bitcoin node could spell trouble, as using the flagship cryptocurrency is prohibited in some countries.

Bitcoin Investors Reportedly Lose Millions in South African Exit Scam

Michael LaVere
  • VaultAge Solutions CEO Willie Breedt is being accused of making off with millions in investor bitcoin.
  • Breedt allegedly fled the country for Mozambique and has not communicated with investors since December 2019. 

South African cryptocurrency investors are accusing the CEO of VaultAge Solutions of stealing millions in crypto before going on the run. 

According to a report by AllAfrica, Willie Breedt, the CEO of cryptocurrency investment firm VaultAge Solutions, is presumed to be on the run after not making public communications since December 2019. The report claims Breedt was speculated to be staying near the town of Jeffrey’s Bay and that his whereabouts where being looked into by the country’s criminal investigation unit. 

However, South Africans who invested cryptocurrency with the now-defunct firm fear the CEO may have fled the country for Mozambique. 

Breedt is accused of stealing millions from bitcoin investors. The report claims VaultAge Solutions is not registered as a legitimate financial institution with the Financial Services Conduct Authority (FSCA), despite having more than 2000 investors. 

The report quoted investor Lettie Engelbrecht from Krugersdrop, 

We are pensioners and invested R200 000. From December until April, we received payments on the growth of our investment. Since then, we never got any money. We are desperate and living on a shoestring budget.

One South African investor reportedly had deposited more than R6 million ($342,000) with Breedt’s company. 

Breedt delivered a written reply to local outlet News24, explaining, 

I am busy attending to the commitments I have made to members. The commitment is to have all the initial capital paid back by 31 May.

Colonel Katlego Mogale of the Directorate for Priority Crime Investigation (DPCI) said authorities are investigating the case but cannot reveal any more information “at this stage.”

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