Solana has lost nearly two-thirds of its validators over the past three years, raising concerns about growing centralization on the network. Data from Solanacompass shows the number of active validators fell from about 2,560 in March 2023 to just 795 this week.
Validators are essential to the Solana blockchain. They propose and confirm blocks, helping ensure that transactions are processed correctly and securely.
While some of the decline comes from the removal of inactive or “zombie” nodes, industry participants say this does not fully explain the drop. Many smaller operators point to rising costs and tough competition as the main reasons for shutting down.
Independent validators say it has become difficult to stay profitable. Large operators offering zero-fee validation services are squeezing margins, making it hard for smaller nodes to break even.
These exits are increasing network concentration. Critics warn that Solana is now being secured by a smaller group of large validators, which could weaken its decentralization over time.
This trend is reflected in Solana’s Nakamoto Coefficient, a measure of decentralization. The coefficient has fallen from 31 in March 2023 to 20 this week, indicating that fewer entities now control a larger share of the network.
High operating costs remain a major challenge. Validators must commit around $49,000 worth of SOL in their first year, mainly to cover voting fees required for participating in consensus.
Despite these concerns, on-chain activity on Solana continues to grow. Interest in AI-related token launches has helped drive network usage, even as the price of SOL remains under pressure.
