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More than 1,900 Block-producing Nodes Operating On Solana, Report Revealed

By Natalie Wu | August 14, 2022

Solana reportedly released its unprecedented “Validator Health Report”, carrying data regarding its network operators. 

Specifically, the report reportedly suggested that the network currently possesses more than 1,900 block-producing nodes, with approximately 1,688 (88.14%) of those operated by independent entities. 

Solana reportedly claims that the health and strength of its validators plays a crucial role to the long-term health of the overall ecosystem. In the past, the network received negative feedback due to both an insufficiency of decentralization recorded and highly priced validator hardware. 

Though this new report emphasizes the 3,400 validators throughout six different continents.

Furthermore, the report also revealed details of the way the activity on the network has experienced a surge throughout 2021. On average the network has witnessed 95 new consensus nodes and 99 RPC nodes participating on a monthly basis, since June of 2021.

It additionally underscored that the Nakamoto Coefficient on Solana, alternatively referred to as the amount of validator collusion required to censor the network, is 31 – and still going up. A chart published in the report displayed Solana with the top Nakamoto Coefficient, in comparison with different other networks, nominally Avalanche, Binance and Polygon.

Nevertheless, this report was reportedly published following the aftermath of the hack taking place in the first week of August. Approximately $5.2 million in Solana (SOL) was illegally retrieved from 8,000 wallets including Phantom, Slope and Trust. 

The attack created shockwaves throughout the sphere and users were forced to abandon their hot wallets for cold storage wallets for enhanced security, while being vigilant against scams.

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