Crypto’s ranked by number of nodes

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Coinmonks

5 min readFeb 27, 2020

Feb. 27, 2020

This article is an update of an existing story published in November 2019. The data has been updated and a node crawler has been used for some coins to measure whether the given values of the explorers are correct.

Introduction

As already explained in previous stories, the ranking on CoinMarketCap, based on market capitalization, is highly questionable. See the story “The Nonsense of Marketcap.
Attempts have been made to rank the cryptocoins in other ways. For example, a range of research items on cryptocoins in the story Which crypto becomes the new payment system and also the story The Good, the Bad and the Ugly, Classifying the crypto-coins have been looked at. But there were items that required a value judgement and unfortunately everyone can think differently about that. Another attempt was the story Crypto ranked by numbers of users where a measurable data item was used to get a different, better ranking of the cryptocoins. Also in this story, a measurable data item is entered, in which a ranking is made based on the number of nodes that a certain coin has run in the field. A measure of how the coin works and is used in practice and is not only seen as a trade object and moves currency from one wallet to another wallet on an exchange. Of course, this ranking alone isn’t the only one that will make you happy, and blindly riding on this ranking is therefore as short-sighted as just looking at the MarketCap ranking. But this ranking is in any case a much fairer figure that can be given to the different coins. Above all, the best advice remains “Do your own research”.

Measurement method

A number of agreements have been made about the coins to be investigated. On the one hand to limit the amount of work and on the other hand to separate coins that cannot be measured in this way because they do not have nodes themselves. Especially the ERC20 tokens can’t participate also the tokens leaning on another platform are out of the question.
In addition, all coins that are not “mineable” have been removed from the lists. Because these coins are ranked in the CoinMarketCap list on the wrong grounds. It is fairer to make a comparison between coins that have made more or less the same start and that have obtained and enlarged their circulation supplement through mining as Satoshi Nakamoto intended.

So in CMC a ranking list has been generated based on being “Coin” and being “mineable”. The first 100 coins of this list were included in the research. What strikes, compared to the Nov 2019 version, is that 18 new coins have been included in this list and of course as many old ones have been removed because they are no longer in the top 100 mineable coins.

The number of nodes/peers that had a connection in the currency’s network in the past 24 hours was examined. We mean nodes/peers that are active in the network and are involved in checking/approving the transactions. So the mobile wallets, which in fact only monitor the network, are not counted.
Quite a few coins work with so-called Masternodes, Supernodes, providers, consensus nodes or whatever name they have given them. Also with these coins the number of …nodes that have been connected to the network in the last 24 hours is taken.
With some coins, only the status page of the explorer indicates the number of nodes with which the explorer has a connection. Then that number is taken, although it is known that in that case not all nodes the last 24 hours in the network are counted. But for lack of better, this number is still included in the list.
I also used a Node crawler made by Noah Seidman and available for Android in googleplay. With this app two coins have been measured and for 5 coins the value found by the explorers has been checked.

In about one third of the cases, the number of nodes/peers was not found on the website or the explorer of the coin. These are marked in yellow.

A few Coins are disqualified because the mentioned numbers are out of proportion so there is a wrong result. For example, because all nodes that have reported once on the network are counted. They are marked orange

About two coins in the CMC list there was nothing left. Probably dead coins.
The last categorie are marked in red.

For each coin the link is given to the page where the number of nodes is mentioned. In the list above they are unfortunately not clickable but you can also go to the source data and there you can click on the links.

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Disclaimer:
All values were searched on one day, 27 februari 2020. It is a snapshot and can be different at any time. So don’t worry whether a coin has a place 35 or 38 in the list. However, the broad outlines are visible and useful for making an assessment.
The greatest possible care has been taken with the list, but the author does not guarantee its correctness.

Crypto’s ranked by number of nodes

Introduction

Measurement method

Written by Aat de Kwaasteniet