Ethereum

🔥 Solana’s staking market cap ($58.7B) recently matched Ethereum’s ($61B).

 Does this mean Solana's security now rivals Ethereum's?

Let's explore this because staking market cap alone doesn't determine network security. Here's my take 🧵👇

🔹 Both ETH and SOL share theoretical thresholds:

33% stops block generation.

51% creates a chain fork.

67% enables double-spending.

🔹 Node Decentralization Is Crucial:

On Ethereum, each validator stakes exactly 32 ETH. To achieve a 51% attack, an attacker would need about 1.187 million nodes, which is practically impossible.

Solana’s stakes are concentrated. Controlling just the top 43 validators crosses the 50% threshold, raising centralization concerns.

🔹 Economics and Participation:

Ethereum’s more accessible 32 ETH staking threshold encourages broad participation, enhancing decentralization.

High operating costs for Solana validators limit participation, inadvertently leading to centralization risks.

Head of Research @onchainhq
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https://linktr.ee/LeonWaidmann

I am really surprised that Solana has high operating cost for validators.