Solana [SOL] outshines Ethereum [ETH] on this crucial parameter

ambcrypto.com:

The Solana [SOL] Foundation published its latest Validator Health Report wherein it disclosed vital stats like the number of validator nodes and their distribution across the network.

According to the report, the network boasted more than 3,400 nodes out of which over 2,400 were nodes that participated in validating transactions on the chain, also called consensus nodes.

Today, @Solana is one of the largest proof of stake networks in the world by node count, and one of the most distributed by Nakamoto Coefficient. https://t.co/NlxHZqHnV5 pic.twitter.com/1AcDtQK7p2

— Solana Foundation (@SolanaFndn) March 23, 2023

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The Nakamoto Coefficient, created by former Coinbase CTO Balaji Srinivasan, is a widely-used measure of the decentralization of a blockchain.

The Nakamoto coefficient measures decentralization and represents the minimum number of nodes required to disrupt the blockchain’s network.

A higher Nakamoto Coefficient indicates that the network has a large number of nodes and is thus more decentralized and safe.

One of the major takeaways of the report was the reading of the Nakamoto Coefficient. For the Solana chain, it stood at 31 as compared to just 1 for the biggest proof-of-stake network, Ethereum [ETH].

A look at Ethereum’s validator distribution will most likely sum this up. More than 44% of the staked ETH was held by just four participants.

Furthermore, the report highlighted that Solana was well-distributed across geographies with no country controlling 33% of the active stake. However, in the case of Ethereum, more than 45% of the nodes were concentrated in only one