Amid the bearish turmoil in the crypto market, Solana’s active validator count has recently hit an impressive 1,875 figure. This shows how this blockchain is much more secure and decentralized than others in the crypto industry.
What’s even more impressive is that just over a year ago, Solana hit a tally of 1,000 active validators.
This means that Solana now has the most active validators of all proof-of-stake blockchains next to Ethereum, which has 8,417 nodes and 409k validators.
Interestingly, the number of validators on Solana has skyrocketed since the launch of the mainnet beta.
However, there is a pressing concern among Solana’s validators about their geodiversity. Almost half of the validators are located in the US and Germany.
According to a blog on Messari, “If too many validators are concentrated in the same places, the health of a blockchain becomes dependent on those countries’ regulatory regimes.”
Another important aspect of a healthy blockchain is the distribution of staked tokens among those validators. In comes the “Nakamoto coefficient”, which is defined as the smallest number of validators that cumulatively stake 33% of the network’s staked tokens.
A higher coefficient value would mean a higher distribution of staked tokens. This means a higher degree of decentralization.
Solana has a Nakamoto coefficient value of 27, which is higher than most blockchains besides Polkadot. But in hindsight, Polkadot only has 15% as many validators as Solana.
There is more in the house
That said, the Solana co-founder tweeted about the launch of Testnet v1.10.32 on July 26. Users are visibly excited about this launch as it continues to fix bugs on the network that has had multiple outages lately.
Still, the Solana network performed well in the past quarter. Despite both internal and external headwinds, Solana’s network grew strongly in many areas. It even managed to maintain loyal users over the period reviewed here.
testnet @solana validatoooooors! It’s time to control disagreements.https://t.co/lZjdgZl8cQ
— SMS T◎Ly, 🇺🇸 (@aeyakovenko) July 25, 2022
Now you may be wondering: what can we expect from Solana now? Network health has been a major point of criticism in terms of network outages. But recent server improvements may point to an uptick in fortune for this Ethereum killer.
This post Solana Hits New Milestone – Is It Time for Investors to Go Long?
was published first on https://ambcrypto.com/solana-reaches-new-milestone-is-it-time-for-investors-to-go-long/