Solana Foundation says nearly a third of stake running through Jito Labs client

Crypto Ecosystems • October 4, 2023, 9:01AM EDT

Published 1 minute earlier on

Quick Take

Solana Foundation announces that more than “31% of stake [is] running through the Jito Labs client.”
This shows that the network is being spread across multiple clients.

The Solana SOL +0.57% Foundation has highlighted that more than "31% of stake [is] running through the Jito Labs client," showing the network is now running on multiple clients.

Seeking to promote Solana's gains as a "multi-client network" the organization published its latest validator health report to both show the rising number of validator clients using Jito Labs and to note that the network "has experienced 100% uptime" since February. This contrasts with last year when the network had multiple bouts of downtime.

Solana Foundation said the quantity of validators using Jito had nearly doubled since its last report in March.

"There are four different validator client implementations for the Solana network in active development, built on three independent codebases," the statement said. "The Jito Labs client is run by over 31% of Solana validators, up from 16% since March 2023 ... and up from 0% since August 2022, when the client first launched to mainnet."

Jito Labs raised $10 million in a Series A funding round last year. The company builds Solana MEV infrastructure. Solana Ventures, Solana Labs co-founder Anatoly Yakovenko and Solana Foundation Head of Communications Austin Federa all participated in the Series A.

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RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.