Solana has published its first “Validator Health Report”, revealing information about its network operators. According to the report, the network has more than 1,900 block production nodes, of which almost 1,688 (88.14%) are managed by independent entities.
Solana states that the health and robustness of its validators is critical to the long-term health of the ecosystem. Previously, the network has faced backlash over both a lack of decentralization and expensive validator hardware.
Although this new report highlights the 3,400 validators on six different continents.
9/ Distribution across geographies is important. Resilient blockchains continue operating through all types of global events.
Here’s how stake is distributed across the @Solarium network, with a snapshot of Ethereum miner distribution for benchmarking. https://t.co/1jsylk9J3J pic.twitter.com/faepZ4RvYm
— Solana Foundation (@SolanaFndn) August 10, 2022
9/ Distribution across geographies is important. Resilient blockchains continue to operate through all kinds of global events.
This is how the @Solana network stake is distributed, with a snapshot of the Ethereum miner distribution for reference.
In addition, the report shows how network activity has increased in the last year. On average, Since June of last year, 95 new consensus nodes and 99 RPC nodes have joined the network.
He also noted that the Solana Nakimoto Coefficient, that is, the amount of validator collusion needed to censor the network, is 31, and rising. A chart published in the report showed Solana with the highest Nakimoto Coefficient compared to other networks like Avalanche, Binance, and Polygon.
However, this report comes on the heels of last week’s hack. Around $5.2 million worth of Solana (SOL) was hacked from 8,000 wallets including Phantom, Slope, and Trust.
The news shook the industry and users were urged to ditch their hot wallets for cold storage wallets for added security, while remaining vigilant against scams.
Investigations into the hack are currently ongoing. Some experts point to the Slope wallet as being responsible for the compromise. Slope is a Web3 provider of a hot wallet for the Solana Layer 1 (L1) blockchain. Reports say that the compromised wallets were at one point “created, imported, or used” in the Slope mobile app.
Before the wallet hack, experts were speculating on a 40% price rise in SOL despite bear market conditions. Shortly after news of the hack broke, the cryptocurrency saw a price drop of almost 8%, followed by a rebound of $40 per coin.
At the time of writing, SOL hovers around $44 per coin.
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