Historical centralisation of bitcoin network block creation

0. Introduction
In yesterday's post I discussed measures of bitcoin centralisation, but I left out the most important part - a visualisation of the change in hashrate (block creation power) distribution. I'm fixing that now.

1. Historical centralisation of bitcoin network block creation
This chart shows the changes in the amount of the network controlled by the largest block maker, second largest, and so on up to the twentieth largest (should that number of block makers exist during the week the estimate was made), and below that the centralisation measures I demonstrated yesterday for comparison.

Even ignoring the indices,  it's still easy to see times when the hashrate distribution has been more even and when less so (more centralised): the more even the spacing of the lines, the more equally the networks hashrate is distributed, and vice versa. For example, during the second half of 2012 the network was much less centralised than at the start of this year.

Once again "Unknown" has been treated as a single entity (which it most likely isn't) since this would be the worst case scenario.

Well, I'm off to buy some Microsoft stuff with bitcoin!








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