The first Solana Validator Health Report is made public, revealing critical information on its network operators. The report disclosed that nearly 1,688 (88.14%) of the network’s 1,900 block-producing nodes are run by independent entities.
The report demonstrates the increase in the network’s activity over the last 12 months. Since June 2021, the network included 95 consensus nodes and 99 RPC nodes monthly.
Solana Validator Health Report addresses backlash over lack of decentralization
The Solana Validator Health Report follows the hack from last week wherein 8,000 wallets in Solana (SOL) totaling about $5.2 million were compromised. The news shocked the industry, and users were urged to switch from hot wallets to cold storage wallets for more protection while remaining alert to scams.
According to Solana, the health of the ecosystem’s validators is important to its long-term health. Previously, the network drew criticism for lack of decentralization as well as pricey validator gear.
It also emphasized that the Nakamoto Coefficient on Solana, or the level of validator collaboration required to censor the network, is 31 — and increasing. According to a figure included in the report, Solana has the greatest Nakmoto Coefficient when compared to other networks such as Polygon, Avalanche, and Binance.
Hack probe continues
Investigators continue to work on the Solana hack. Some researchers point the cause to the Slope wallet. According to reports, the compromised wallets were once “created, imported, or used” on the Slope mobile app.
Despite the bear market conditions, experts analyzed a 40% spike on the SOL price before the wallet hack. However, the token price dropped to 8% shortly after the hack’s discovery and shortly regained up to $40.
SOL continues to trade within the $44 zone.