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Solana tops a decentralization metric, but software bugs remain a risk
A new ARK Invest and Glassnode scorecard sets a resilience threshold at three block producers for Bitcoin and Ethereum, versus 19 for Solana, while classifying entities across networks can complicate risk readings.
ARK Invest and Glassnode have released a scorecard aimed at quantifying blockchain “capture risk,” defined as the smallest number of block-production entities needed to cross a control threshold tied to protocol-relevant governance or consensus power, CryptoSlate reports.
In the framework, the threshold is three entities for Bitcoin and Ethereum, and 19 for Solana, and Bitcoin ranks first in the scorecard’s composite decentralization ranking. The report notes that the “tension” among networks can come from different ways a coalition can be exposed or pressured, such as how many entities must coordinate versus other concentration channels tied to ownership, infrastructure, software, auditability, and exit speed.
For Bitcoin, the scorecard relies on hash-rate attribution to mining pools and points to a Sept. 6 seven-day snapshot that attributed 26.88% of blocks to Foundry USA, 16.91% to AntPool, and 15.25% to F2Pool. It says the three pools produced block templates for 59.04% of observed production, which aligns with the report’s three-entity result, while distinguishing pool share from miner ownership.
On Ethereum, the report highlights that “entity” labels can be ambiguous: Rated Network’s Sept. 6 view lists Lido at 21.17%, SSV at 16.56%, and Binance at 7.77%, and the same table described Lido as 544 entities, depending on whether groupings reflect protocols, operator sets, distributed validator networks, exchanges, or individual validators. CryptoSlate also notes Ethereum’s documentation: at least 33% of stake can delay finality, and more than 50% can further affect outcomes, underscoring that classification choices can change how concentration risks are interpreted.
Latest closeBitcoin $79,207.14 ▼1.4%|Ethereum $2,490.54 ▼0.9%|Solana $104.08 ▼2.2%