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Gavin Wood: The Nakamoto coefficient of Polkadot has reached 149, indicating a level of decentralization far surpassing that of Ethereum and Solana.

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Odaily
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Feb 5, 2025

Odaily Planet Daily news: Gavin Wood, co-founder of Ethereum and founder of Polkadot, recently stated in an interview with Forbes that blockchains that ignore decentralization and resilience should not be considered Web3. The resilience of a blockchain is often assessed by evaluating its level of decentralization. Wood identified several questions to evaluate this metric: Who makes protocol decisions? Is governance defined with clear or low entry barriers? And the Nakamoto coefficient, which measures how many parties are needed to disrupt the network. Finally, Wood urged attention to more "diffuse concepts," such as whether a single entity can define the narrative and "fundamentally overshadow the ecosystem and stifle other narratives." He expressed satisfaction with Polkadot's decentralization, noting that according to Nakaflow data, Polkadot's current Nakamoto coefficient is 149, meaning that at least 149 independent validators need to come together to disrupt the network. In contrast, some other major blockchains have much lower scores, such as Solana with a score of 19 and Ethereum at only 2. However, for Polkadot, the high entry barrier remains an issue. Additionally, Wood proposed the following five fundamental criteria for judging a blockchain's potential: 1. Resilience: A cornerstone of Web3, resilience combines cryptography, decentralization, and game theory to protect the blockchain from attacks and ensure its long-term stability; 2. Performance: Not just scalability, performance also measures the efficiency with which a network processes and completes tasks; 3. Generality: The ability of a blockchain to support various applications and programmability; 4. Accessibility: The ease with which users, developers, applications, and bots interact with the network; 5. Coherence: The ability of a system to maintain fast and consistent communication within its network.

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