Solana validator numbers fell sharply, dropping 68% from 2,560 in March 2023 to 795 as of Wednesday, data shows here, driven by rising costs and fee competition that push smaller operators offline. Validators add blocks and verify transactions, so the decline reduces independent participation in the network.
Some of the drop reflects cleanup of inactive or “zombie” nodes. Independent operators blame higher running costs for the rest.
An operator posting as Moo said many small validators now plan to shut down, linking to his post here. “Many small validators are actively considering shutting down (including us). Not due to lack of belief in Solana, but because the economics no longer work.”
Moo added the squeeze comes as larger validators set fees to 0%, forcing smaller operators out. “We started validating to support decentralization. But without economic viability, decentralization becomes charity.”
The network’s Nakamoto Coefficient fell about 35%, from 31 to 20 over the same period (Ed. note: a lower score means fewer independent entities secure the chain). Records for this measure are also available here.
Operators must stake roughly 401 SOL (about $49,000) for a first operational year and send vote transactions costing up to 1.1 SOL daily (about $134), according to technical documentation here. The Solana Foundation was contacted for comment and had not replied by publication.
