State of the Network: October

Edit 12/05/24 - active node count, avg earnings, and country counts corrected for October

In this report, we analyze the Swarm network’s performance for October 2024, providing insights into various key metrics including total rewards, win values, node earnings, and geographic distribution. These metrics offer a comprehensive view of the network’s evolution over the month, allowing for a deeper understanding of how the economic and operational mechanisms of Swarm are functioning.

Network Total Monthly Rewards

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

Month	Total Network Rewards (xBZZ)
May	109,209
June	112,037
July	105,855
August	62,093
September	99,124
October	89,250

In October, the total network rewards saw a decrease to 89,250 xBZZ from September’s 99,124 xBZZ. This decline follows the rebound observed in September.

Monthly Median Win Values

This metric is the median win amount for each win event, providing insight into the typical reward nodes can expect from a single win event.

Month	Median Win Values (xBZZ)
May	32.65
June	33.92
July	33.67
August	12.48
September	30.05
October	27.70

The median win value in October was 27.70 xBZZ, which represents a slight drop from September’s value of 30.05 xBZZ.

Monthly Average Win Values

This metric shows the average win amount for each win event, offering an understanding of how the reward amounts are distributed across the network.

Month	Average Win Values (xBZZ)
May	36.56
June	37.07
July	36.05
August	19.44
September	32.58
October	28.07

The average win value for October was 28.07 xBZZ, showing a decrease from September’s 32.58 xBZZ. While this is a drop, the value is still higher than the low seen in August, indicating a return to more typical levels after the previous month’s dip.

Active Staking Node Monthly Average Earnings

This metric shows the average monthly earnings for an active staking node, with an "active node" defined as a node that has submitted at least one commit transaction during the month.

Month	Avg Total Earnings per Node (xBZZ)
May	10.66
June	9.37
July	8.22
August	8.27
September	17.49
October	12.17

In October, the average earnings per active staking node were 12.22 xBZZ, a decrease from the sharp rise in September (17.49 xBZZ). This suggests that while earnings per node are still relatively high, they have adjusted to reflect the lower total rewards seen in October.

Total Active Staking Nodes by Month

This metric shows the total number of active staking nodes, defined as nodes that have issued at least one commit transaction during the month.

Month	Total Active Staking Nodes
May	10,245
June	11,950
July	12,871
August	7,506
September	5,667
October	7,331

October saw a modest increase in active staking nodes, rising to 7,304 from September’s 5,667.

Total Reachable Full Nodes Regardless of Active Status

This metric counts the total number of unique full nodes that were reachable at any point in the month, providing a broader picture of network activity beyond just active committers.

Month	Total Reachable Full Nodes
May	16,000
June	18,916
July	20,898
August	24,168
September	18,589
October	15,206

The total number of reachable full nodes decreased in October, dropping to 15,206 from September’s 18,589. This decline continues the trend of fluctuating reachable nodes, likely influenced by the changes in active node participation and network activity.

Total Winning Nodes by Month

This metric tracks the number of unique staking nodes that won the redistribution game at least once during the month.

Month	Total Winning Nodes
May	2,554
June	2,680
July	2,622
August	2,769
September	2,379
October	2,588

The total number of winning nodes increased in October, rising to 2,588 from September’s 2,379.

Total Active Staking Nodes by Country

This section breaks down active staking nodes by country, providing insights into the global distribution of the network.

	China	Germany	Finland	Unknown	United States	Other
May	6,010	1,739	2,173	1,899	84	69
June	7,480	1,718	2,276	370	79	27
July	8,539	1,828	2,395	1	83	25
August	5,406	886	1,157	1	40	16
September	3,440	655	1,503	3	N/A	66
October	4,819	736	1,688	10	13	65

In October, the network saw a significant increase in the number of active staking nodes from China, while Germany saw a minor reduction in node counts and Finland saw a moderate increase. The United States continued to be absent from the top ranks, and countries like Spain and the Netherlands experienced increases in their participation, contributing to the "Other" category.

Conclusion

In October 2024, the Swarm network exhibited adjustments in several key metrics. There was a significant increase in the total number of nodes actively participating in redistribution, despite the slightly lower total rewards payout for the month. Globally, there has been renewed participation in nodes coming from China and Finland, with participation remaining stable in other regions. These trends suggest that the Swarm network’s reward distribution and economic mechanisms are functioning as intended, with nodes adjusting to shifting participation levels and rewards.