There are 83 bitcoin nodes running in China

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Despite the complete ban on mining, there are still available nodes in the PRC that secure the network

There are 83 bitcoin nodes running in China

07.06.2022 - 14:25

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What’s new? According to the crypto analytics platform Bitrawr, there are 83 bitcoin nodes available in China securing the Bitcoin (BTC) network, despite the ban on mining in place since 2021.

Information on the Bitrawr website

A node checks the confirmed blocks and transmits them to neighboring nodes. It also transmits information about new (unconfirmed) transactions that users have just sent to the network.

How did events develop? The ban on cryptocurrency mining in the PRC had been phased in since May 2021, when the government banned financial institutions from engaging in any transactions involving digital assets. In July, mining was completely banned within the country, and in September the authorities outlawed cryptocurrencies.

Despite the ban, underground miners in China continued to operate, bringing the country back to second place in the global bitcoin hashrate in mid-May 2022, accounting for 21%.

Author:

Editorial GetBlock Magazine

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