The level of participation in the Ethereum network has risen by about 13% from where it was on November 15. The number of Ethereum nodes briefly out paced those of Bitcoin, in anticipation for the ETH 2.0 upgrade.
Ethereum network at full speed up as ETH 2.0 approaches.
A recent spike in the number of Ethereum nodes appears to be correlated with the growing speculation around the launch of ETH 2.0, which is just a couple of hours away.
Nodes can be regarded as the backbone of the Ethereum protocol as well as any other blockchain system. Transaction data is stored, spread, and preserved within these servers or CPUs allowing to keep the network updated.
At the time of writing, the number of Bitcoin nodes had already reclaimed its position ahead of Ethereum. The former has 11,376 active nodes while the latter shows around 11,184 active nodes.
On Dec 1, at 12:00 UTC, the launch of Phase 0 will kick off. The event is said to be the catalyst for the full roll out of ETH 2.0.
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