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Does a higher stake than Ethereum mean Solana is more secure?
Written by: 0xTodd
A few days ago, I saw a post that said: "Now the staking volume of Solana has exceeded that of ETH. Does this mean that the security of the Solana chain has surpassed that of ETH?"
This statement is so misleading that many people really believe it 😂.
Actually, that's not the case. First, let's look at some data:
SOL has indeed reached the same level as ETH, and just a few days ago, before ETH's rebound, it was even slightly lower than SOL. (Data source: Beaconcha & Solana Beach).
Considering that the attack threshold for both PoS mechanisms is around 33%, the theoretical difficulty of the attack seems consistent.
33% can obstruct block production, 51% can create a new longest chain, and 67% can directly cause double spending.
However, in terms of practical difficulty, attacking ETH is significantly more difficult than Solana.
PS: Of course, assuming the success rate of attacking SOL is 0.001%, the difficulty of attacking ETH might be 0.0001%. Although the difference is significant, it is important to note that both still belong to extremely low probability events.
The reasons are (1) node concentration (2) maturity of Staking infrastructure.
1. Node Centralization
Let's assume a scenario: there is a magical hacker who successfully hacks into the data centers of Amazon and major cloud service providers using a 0day vulnerability.
So, controlling Solana > 50% requires obtaining the top 43 nodes at the same time. It's difficult, but not impossible.
As for ETH, a single node can stake a maximum of 32 ETH, so it requires obtaining 1,187,000 nodes, which sounds like an impossible task.
Of course, this is unfair to Sol because essentially ETH is also run by numerous node operators, and a single entity may own tens of thousands of nodes. So, from the perspective of the operators listed on Rated...
You will find that all registered ETH node operators combined only account for 47.5%, and they can't even reach the 50% threshold. It remains an impossible task.
The reason is that ETH, as an ancient public chain, has indeed experienced real PoS attacks from ancient times, and has made a lot of preparations to prevent this potential danger, such as encouraging retail investors to participate in staking.
The 32 ETH threshold for Ethereum is not high, while Solana has high server requirements, with monthly costs being 5-10 times that of ETH, and this is just the entry point. Therefore, for retail investors to break even, they need to stake at least 10K SOL or more, and the yield is even lower than Jito.
2. Infrastructure Maturity
Many ETH staking infrastructures, including @LidoFinance and @Obol_Collective, have also done a lot of homework.
For example, Lido requires nodes to use less of Amazon's data centers and more of niche data centers. Use mainstream clients less and support niche clients more. In addition, Lido has set aside 4% ETH specifically for DVT infrastructure such as Obol and SSV.
As for Obol, it is DVT technology. You can think of it as your Node being managed by a cluster rather than a single entity.
For example, if 4 people jointly manage a Node, you can require it to be a 3/4, so that once a certain Node goes offline, the other Nodes can immediately take over. If you set it to 10, then you can set it to 7/10, allowing for a maximum of three Nodes to go offline.
Note: On ETH and most PoS chains, going offline is also a form of [malicious behavior]. If 33% of the nodes go offline, the chain will become paralyzed.
Moreover, what makes Obol unique is that it achieves clustering through a client, so your private keys (fragments) are not uploaded to the chain, making it more secure. This is achieved through DKG (I can share more about DKG when I have time later).
Recently, Obol just launched its mainnet. If you are interested, you can go and mine it at @ebunker_eth.
Therefore, infrastructure like Obol, which is specifically prepared for Staking with ETH, is currently not available on Solana.
Of course, it's not about one being better than the other 😂, both chains are very secure. However, despite the funds being at the same level, in terms of security, due to node concentration and infrastructure maturity, ETH still has a slight advantage.