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December 4, 2025Proceedings of the ACM on Measurement and Analysis of Computing Systems3 citations

Multiple Sides of 36 Coins: Measuring Peer-to-Peer Infrastructure Across Cryptocurrencies

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LKLucianna KifferLHLioba HeimbachDTDennis Trautwein

Key Points

  • Dramatic variation in networks was observed, with sizes ranging from under 10 to over 10,000 active nodes.
  • IPv4 and IPv6 usage trends were quantified, alongside analysis of autonomous systems and geographic concentration.
  • Methodology involved deploying active crawlers and conducting hourly connectivity probes across multiple networks.
  • Findings highlight significant differences in resilience, decentralization, and the observability of blockchain networks.

Abstract

Blockchain technologies underpin an expanding ecosystem of decentralized applications, financial systems, and infrastructure. However, the fundamental networking layer that sustains these systems, the peer-to-peer (P2P) layer, of all but the top few ecosystems remains largely opaque. In this paper, we present the first longitudinal, cross-network measurement study of 36 public blockchain networks. Over 9 months (since late 2024), we deployed 15 active crawlers, sourced data from two additional community crawlers, and conducted hourly connectivity probes (e.g., pings and protocol-level handshakes) to observe the evolving state of these networks. Furthermore, by leveraging Ethereum's discovery protocols, we inferred metadata for an additional 19 auxiliary networks that utilize the Ethereum peer discovery protocol. We also explored Internet-wide scans, which only require probing each protocol's default ports with a simple, network-specific payload. This approach allows us to rapidly identify responsive peers across the entire address space without having to implement custom discovery and handshake logic for every blockchain. We validated this method on Bitcoin and similar networks with known ground truth, then applied it to Cardano, which we could not crawl directly. Our study uncovers dramatic variation in network size from under 10 to more than 10,000 active nodes. We quantify trends in IPv4 versus IPv6 usage, analyze autonomous systems and geographic concentration, and characterize churn, diurnal behavior, and the coverage and redundancy of discovery protocols. These findings expose critical differences in network resilience, decentralization, and observability. Beyond characterizing each network, our methodology demonstrates a general framework for measuring decentralized networks at scale. This opens the door for continued monitoring, benchmarking, and more transparent assessments of blockchain infrastructure across diverse ecosystems.

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Cite This Study

Kiffer et al. (2025) studied this question.

synapsesocial.com/papers/6930e8e3ea1aef094cca3ee3https://doi.org/10.1145/3771572
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Also Consider

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