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A respectable Nakamoto coefficient, but a shrinking validator set and high hardware bar.
L1PoS + PoH
- Type
- L1 · PoS + PoH
- How it works
- PoS with Proof-of-History ordering; high throughput demands powerful hardware, which raises the cost of running a validator. Client diversity is improving as Firedancer joins Agave.
- Nakamoto coefficient
- ~29
- Node / validator set
- ~770 validators (down from ~2,560 in 2023)
- Client diversity
- Agave + Firedancer (diversifying)
- Governance
- Off-chain + foundation programs (SFDP)
- Key risk
- Validator count fell ~65% to ~770
Assessment
Solana’s Nakamoto coefficient (~29) is mid-pack and better than Ethereum’s, but its validator count has fallen ~65% since 2023 — partly a foundation “pruning” of non-contributing nodes. High hardware requirements keep the barrier to entry up; the arrival of Firedancer finally adds real client diversity.
Decentralized here
- Nakamoto coefficient ~29
- Adding a second client (Firedancer)
- Geographically distributed validators
- No single entity controls consensus
Centralization vectors
- Validator count down ~65% since 2023
- High hardware cost to run a node
- Foundation programs shape the validator set
C+Verdict
Mid-tier and improving on clients, but the falling validator count is a real concern.
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Grade as of June 2026; an opinionated synthesis of cited public metrics (Chainspect / Nakaflow (Nakamoto), L2BEAT (stages), clientdiversity.org — 2026). Figures shift — see methodology.
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