State of the Network: November

Network Total Monthly Rewards

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

Month	Total Network Rewards (xBZZ)
June	112,037
July	105,855
August	62,093
September	99,124
October	89,250
November	54,053

November saw a decline in total network rewards to 54,053 xBZZ, representing a significant drop from October. This decline aligns with a broader reduction in win values and earnings across the network.

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)
June	33.92
July	33.67
August	12.48
September	30.05
October	27.70
November	17.44

The median win value for November was 17.44 xBZZ, a significant decrease from October’s 27.70 xBZZ. This indicates lower typical rewards per win event compared to previous months.

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)
June	37.07
July	36.05
August	19.44
September	32.58
October	28.07
November	17.13

The average win value dropped to 17.13 xBZZ in November, reflecting a significant reduction in the distribution of rewards per win event.

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)
June	9.37
July	8.22
August	8.27
September	17.49
October	12.17
November	6.90

The average earnings per active staking node fell to 6.90 xBZZ in November, reflecting the impact of reduced total network rewards combined with a slight increase in the number of active staking nodes.

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
June	11,950
July	12,871
August	7,506
September	5,667
October	7,331
November	7,830

November saw a slight increase in active staking nodes to 7,830, continuing the recovery trend from September’s low participation levels.

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
June	18,916
July	20,898
August	24,168
September	18,589
October	15,206
November	14,075

The number of reachable full nodes decreased further in November to 14,075, continuing the downward trend seen since August.

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
June	2,680
July	2,622
August	2,769
September	2,379
October	2,588
November	2,588

The total number of winning nodes remained stable at 2,588 in November, showing no change from October (note that while the number of winning nodes is coincidently the same, the total number of win events and the set of winning nodes both differ from the previous month).

Total Active Staking Nodes by Country

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

Country	October	November
China	4,819	5,492
Finland	1,688	1,802
Germany	736	462
Spain	26	21
The Netherlands	15	18
United States	13	10
Italy	3	3
Vietnam	1	2
Unknown	10	10
Belarus	1	1
India	4	3
Thailand	1	1
Estonia	3	2
Lithuania	1	1
Singapore	1	1
Hungary	2	1
Slovenia	1	0
Russia	3	0
Switzerland	2	0
France	1	0
Denmark	0	0
Japan	0	0

November saw a small to moderate rebalancing of the geographic distribution of nodes, with the general pattern of distribution remaining unchanged. China continued to lead the network with a modest increase in active nodes up to 5,492. Finland's node count rose to 1,802, while Germany saw a decline, dropping to 462. A handful of nodes were also observed across a number of countries, primarily in Europe and Asia.

Conclusion

November 2024 saw a decline in the Swarm network’s reward levels, with reductions in total rewards and average node earnings continuing a downward trend. Despite these economic pressures, the number of active staking nodes increased slightly to 7,830, reflecting a steady level of participation. This suggests that operators remain engaged with the network, even as reward dynamics shift.