Solana validator nodes have decreased by 68% over three years, with smaller nodes squeezed out of the market by costs.

Data shows that the number of validator nodes on the Solana network has plummeted from a high of 2,560 in March 2023 to the current 795, a drop of 68%, raising concerns about the network's decentralization. Industry insiders point out that in addition to cleaning up "zombie nodes," the core reason is the continuously rising operating costs and the competition from large nodes offering zero transaction fees, which is systematically squeezing out small and medium-sized validators. An independent validator node operator stated that many small nodes are not bearish on Solana, but rather that the economic model is unsustainable: "Without economic viability, decentralization becomes a charitable act." Meanwhile, Solana's Nakamoto Coefficient has dropped from 31 to 20 during the same period, a decrease of approximately 35%, indicating that control over staked SOL is concentrating in the hands of a few large nodes, leading to a decline in the network's decentralization. From a cost perspective: Maintaining operation (excluding hardware and servers) requires at least $49,000 worth of SOL in the first year; voting fees are approximately 401 SOL annually; and daily voting transaction costs can reach as high as 1.1 SOL per day. Solana is gradually evolving from a "broadly participatory node structure" to a structure dominated by large, institutional nodes, which may have a profound long-term impact on network security architecture and governance. (Cointelegraph)