Solana (SOL) Hits New Milestone – Time to Go Long?

Solana sees its active validator count hitting an attractive number of 1,875 amidst bearish turmoil in the crypto space. That reflects how the SOL blockchain is more decentralized and secured than other peers in the marketplace. The fascinating thing is Solana hit 1,000 active validators only one year ago.

That implies Solana enjoys the highest active validators among PoS (proof-of-stake) blockchains besides Ethereum (ETH), which boasts 409K validators and 8,417 nodes. Solana’s validator count noted a massive surge since the mainnet beta launch.

Nevertheless, there’s a pressing worry among SOL validators in the geo-diversity. Nearly half of them are in Germany and the United States. According to Messari’s blog, many validators concentrated in a single region make the blockchain’s health depend on the regulatory framework of those nations.

Another crucial facet of an attractive blockchain is staked coins’ distribution among the validators. That’s where the Nakamoto coefficient comes in, which means the smallest validator cohort cumulatively staking 33% of the platform’s staked tokens.

Higher coefficients translate to higher staked tokens’ distribution. Thus, this indicated enhanced decentralization for the blockchain.

Solana’s Nakamoto coefficient stands at 27, surpassing most networks besides Polkadot. But in reflection, Polkadot boasts only 15% more validators than Solana.

There’s Still More

Solana’s co-founder posted about the testnet v1.10.32 on Twitter on July 26. Users show optimism about the launch since it continues to fix issues on the blockchain that dealt with several outages recently. However, the Solana platform presented impressive performance during the previous quarter.

The network saw massive increments in several areas, regardless of external and internal headwinds. Moreover, it retained its loyal customer during the timeframe under review.

The question could emerge, what next for Solana? The network’s health has met massive criticism due to outages. However, the latest server improvements could mean a fortune upturn for the ETH-killer. Meanwhile, Solana investors should watch broad market trends as they can impact SOL’s movements.

Bears maintained the edge while publishing this blog. The global cryptocurrency market capitalization remained beneath the $1 trillion mark, hovering at $978.44 billion. Also, Bitcoin battles to keep the $21K value area. Nevertheless, analysts believe long-term investment goals will pay.

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