The report, titled The State of Solana: Network Health and Resilience, highlights that the network has avoided major mainnet outages since February 6, 2024. FCAT analysts Mia Galvin and Kevin Kelly report a vote success rate of approximately 99.7% for 2026 and note increased capacity through shortened slot times.
Financial growth on the platform is significant, with tokenized real-world assets rising from $1 billion to $4.4 billion year over year. Additionally, Solana processed over $2 trillion in stablecoin volume during the first quarter of 2026.
Despite these metrics, Fidelity identifies systemic risks related to centralization. Approximately 18 validators control enough stake to halt transaction finality, while a single hosting provider manages nearly 29% of the total stake, exceeding Solana Foundation limits.
Geographic and software concentration remain points of concern. Roughly 40% of the stake is located in Frankfurt and Amsterdam. Furthermore, 63% of the stake runs on Jito-Solana and 26% on Harmonic, both of which rely on the Agave codebase.
