February 6, 2024
Foundation

State of the Network: January

In our latest monthly report, we examine the performance of the Swarm network for January, continuing our ongoing analysis of the network’s dynamics. This month, we again report on key metrics such as total network rewards, win values, active staking nodes, and geographic distribution of nodes to understand the network’s current state and trends.

Network Total Monthly Rewards

This metric shows the total rewards paid out across the entire network for each month.

Month Total Network Rewards (xBZZ)
August 135,927
September 147,825
October 152,868
November 148,617
December 159,865
January 157,596

chart-Total-Network-Monthly-Rewards

In January, the Swarm network distributed a total of 157,596 xBZZ in rewards to its node operators. This slight decrease from December’s record of 159,865 xBZZ perhaps indicates a stabilisation in network utilisation after the recent growth spurts. This metric remains a critical indicator of the network’s health and its capacity to incentivise participation.

Monthly Median Win Values

This metric is the median win amount for each win event.

Month Median Win Values (xBZZ)
August 43.97
September 44.62
October 46.84
November 46.83
December 48.06
January 47.43

chart-Monthly-Median-Win-Values

The median win value experienced a very slight decrease to 47.43 xBZZ in January from 48.06 xBZZ in December, falling into the range of values from recent months.

Monthly Average Win Values

This metric is the average win amount for each win event.

Month Average Win Values (xBZZ)
August 41.45
September 46.52
October 62.09
November 47.41
December 57.75
January 51.20

chart-Monthly-Average-Win-Values

January saw the average win value adjust to 51.20 xBZZ, down from 57.75 xBZZ in December.

Active Staking Node Monthly Average Earnings

This metric shows the average monthly earnings for an active staking node.

Month Avg Total Earnings per Node (xBZZ)
August 31.11
September 32.31
October 14.73
November 8.12
December 12.40
January 13.89

chart-Avg-Total-Earnings-per-Node The average earnings per active staking node increased to 13.89 xBZZ in January. This rise, against a backdrop of a slight decrease in the total number of active staking nodes, illustrates the network’s dynamic self-adjusting economic model.

Total Active Staking Nodes by Month

This metric shows the total active staking nodes by month. “Active nodes” are nodes which have submitted a commit transaction at least once within the month (this metric does not measure nodes which have been actively participating in neighbourhoods not chosen within the month).

Month Total Active Staking Nodes
August 4,368
September 4,574
October 10,367
November 20,868
December 12,891
January 11,350

chart-Total-Active-Staking-Nodes

January’s active staking nodes decreased to 11,350 from December’s 12,891. This reduction possibly indicates tighter competition among node operators.

Total Winning Nodes by Month

This metric shows the total number of unique active staking nodes which have won at least once within the month.

Month Total Winning Nodes
August 1,993
September 2,125
October 2,462
November 2,787
December 2,308
January 2,474

chart-Number-of-Winning-Staking-Nodes-by-Month

The total number of unique active staking nodes that won at least once rose to 2,474 in January from 2,308 in December.

Total Active Staking Nodes by Country

This metric shows the total number of active staking nodes across the top four countries and all other countries aggregated into the “Other” category, as well as the remaining nodes in the “Unknown” category.

China Germany Finland Unknown United States Other
August 855 1,481 1,611 267 7 147
September 574 2,046 1,607 217 8 123
October 6,242 2,042 1,543 175 282 91
November 16,145 2,225 1,961 37 363 137
December 8,333 2,001 1,919 265 312 61
January 6,696 1,937 1,769 701 181 66

Total Staking Nodes by Country.png

January showed a slight reshuffling in the geographic distribution of active staking nodes, with a decrease in nodes from China and adjustments in other regions.

Conclusion

January’s data for the Swarm network perhaps indicates a period of stabilisation and maturation, with trends in rewards, node participation, and geographical distribution showing subtle adjustments rather than dramatic shifts. The slight decrease in total rewards and active nodes, alongside an increase in average earnings per node, suggests a more efficient allocation of resources within a competitive ecosystem. Moreover, the evolving geographic distribution of nodes highlights Swarm’s continuing global reach.

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