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Blockchains by number of nodes/validators

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Re: Blockchains by number of nodes/validators

#41

Post by jkaptur »

mgraczyk wrote: post #36
mbesto wrote: post #35

Earlier quoted context omitted.

Answer (0 yr crypto dev & veteran): I start a new coin call $FOO. I release 1,000,000 coins. I sell one coin to a friend for $1,0000, and keep the remaining 999,999 coins for myself. The market cap is now $100M. > Number of nodes is a poor metric that is easily gamified (pumped up), presenting an artificial picture. You can game either one.

If there's a public order book, it's very easy to see through this. Harder to do that with nodes.

Is there a metric that quantifies this? Some sort of market cap * daily liquidity or something?

Re: Blockchains by number of nodes/validators

#42

Post by dbv1 »

1024wq wrote: post #19
bitcurious wrote: post #3

Chia is famously decentralized when using “number of nodes” as the measure and yet is missing from this list.

Chia currently has 123398 full nodes https://dashboard.chia.net/d/em15uQ47k/peer-info?orgId=1

Massive premine on Chia, didn’t know that. I have a hard time believing that many nodes are reachable, there are probably about that many users in general, if that. Looking at the latest dozen blocks right now, they’re completely empty.

Re: Blockchains by number of nodes/validators

#43

Post by TakeBlaster16 »

password1 wrote: post #37
TakeBlaster16 wrote: post #32

Earlier quoted context omitted.

> estimated cost of 51% attack Someone already built that one here: https://www.crypto51.app/

These numbers are really low, I think I'm missing something otherwise I don't understand why 51% aren't a common issue.

Those prices are derived from a site called NiceHash that tries to commodify hashpower. Most people who want to monetize their mining hardware, just... use it to mine, not lease it to a reseller. So both the supply and demand are low. It's a weird market imo.

The last column is important to understand. It's answering the question: if you rented NiceHash's entire supply of compute power, how close would that get you to launching an attack? For any crypto worth caring about, the number is 0% or close to it. And for the others where it's >= 100%, attacks are a common issue for exactly this reason.

Re: Blockchains by number of nodes/validators

#44

Post by mandarax8 »

TakeBlaster16 wrote: post #32
loxias wrote: post #24

Always surprised at how few nodes there are relative to how loud the noise is about crypto. I don't mind deploying a service and running things myself, it seems there are only a few thousand of us in the world. Even Tor only has "a few thousand" nodes. It might be cute to also see some derived statistics like "market cap/node", average size of transaction, and "estimated cost of 51% attack". ;-)

> estimated cost of 51% attack Someone already built that one here: https://www.crypto51.app/

Is it 'illegal' to attempt a 51% attack?

Re: Blockchains by number of nodes/validators

#46

Post by fogof »

mbesto wrote: post #35
jgarzik wrote: post #31

Answer (12 yr crypto dev & veteran): Number of nodes is a poor metric that is easily gamified (pumped up), presenting an artificial picture. If a blockchain's economics purposefully incentivizes nodes, then number-of-nodes is entirely subsidized, in one common example. Further, the "Sybil" factor - which one party controls many nodes - and other centralizing factors - e.g. 90% of nodes are on Big Cloud - also complic…

Answer (0 yr crypto dev & veteran): I start a new coin call $FOO. I release 1,000,000 coins. I sell one coin to a friend for $1,0000, and keep the remaining 999,999 coins for myself. The market cap is now $100M. > Number of nodes is a poor metric that is easily gamified (pumped up), presenting an artificial picture. You can game either one.

This is why I think network fees are a good metric. As long as anyone can become a block creator, you can’t pump it without losing money.
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