Galaxy’s head of research said in a post on X that BIP-110 nodes reached a peak of only about 20% of the entire network, even under an assumption that there was a relatively high probability of Sybil nodes. The comment framed the node share as far too small to support the level of backing some observers appeared to imply.
The executive also said it was "quite amusing" to see Mechanic and others act so shocked that BIP-110 did not pass. In the same post, he argued that even if that roughly 20% were fully counted, the associated hashpower share would still be nowhere near enough. He described the mining power behind it as very small, while reiterating that the node share itself was only about one-fifth of the network and still far from the stated goal.
According to ChainCatcher, Galaxy’s head of research said in a post on X that BIP-110 nodes peaked at only about 20% of the full network, even assuming a relatively high probability of Sybil nodes.
He said it was "quite amusing" to see Mechanic and others appear so shocked that BIP-110 did not pass. He added that even if that roughly 20% were fully counted, the share of hashpower tied to it would still be far from sufficient. In his view, the mining power involved was very small, the node share was only about one-fifth of the network, and the proposal remained far from its target.
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