2023/05/22 by Jiseong Noh, Noh, Jiseong, Donghwan Kwon +5
Business, Management and Accounting · Computer Science · #Blockchain Technology Applications and Security #Computers and Society (cs.CY) #Cryptography and Security (cs.CR) #Distributed #FOS: Computer and information sciences #FinTech, Crowdfunding, Digital Finance #Parallel #and Cluster Computing (cs.DC)
paper · pdf · doi:10.48550/arxiv.2305.13259
openalex publication_date 2023/05/22 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28
The comparative analysis examined eleven Proof-of-Stake (PoS) consensus-based blockchain networks to assess their openness based on five indicative metrics. These metrics include those of decentralization-related aspects, such as the number of validators and capital concentration, and participation-related aspects, including entry capital requirements and economic network stability. This is to assess and characterize the openness of Proof-of-Stake blockchain networks. The analysis suggested that networks with higher openness included Solana and Avalanche, while BNB Chain, Klaytn, and Polygon measured with lower levels of openness. According to the comparative analysis, Ethereum scored high on network openness in terms of the number of participants and the cost of running the chain, but scored relatively low on capital concentration and staking ratio, which is likely due to the low ratio of staked ether (ETH) to circulating supply and the significant stakes in staking pools like Lido. Permissioned blockchains such as Klaytn and Polygon have limited openness, which suggests the need to take the level of openness into account when transitioning into a permissionless blockchain architecture with a more decentralized setting.