Jito Labs Client Processes Almost One-Third of Solana Foundation’s Stake, Reports Revealed

Breaking News: Solana Foundation’s Multi-Client Network

The Solana Foundation recently revealed a significant milestone, stating that more than 31% of the network’s stake is now being processed through the Jito Labs client. This statistic showcases the network’s expansion across multiple clients, marking a substantial leap forward in its development.

The foundation’s commitment to promoting Solana’s status as a “multi-client network” is evident in its latest validator health report. This report not only demonstrates the increasing number of validator clients utilizing Jito Labs but also emphasizes that the network has maintained an impressive 100% uptime since February. This achievement stands in stark contrast to the previous year, during which the network experienced multiple instances of downtime.

Key Highlights from the Report

• The quantity of validators using Jito Labs has nearly doubled since the foundation’s last report in March.
• Currently, there are four different validator client implementations for the Solana network in active development, all built on three independent codebases.
• The Jito Labs client is now utilized by over 31% of Solana validators, a significant increase from 16% since March 2023 and a remarkable jump from 0% since its launch to mainnet in August 2022.

Jito Labs, the driving force behind this development, successfully raised $10 million in a Series A funding round last year. The company specializes in building Solana MEV infrastructure, a critical component contributing to the network’s robustness and growth.

Notably, prominent figures such as Solana Ventures, Solana Labs co-founder Anatoly Yakovenko, and Solana Foundation Head of Communications Austin Federa actively participated in Jito Labs’ Series A funding round, underscoring the widespread industry support for Solana’s continued advancement.

With the Jito Labs client now powering over 31% of Solana validators, the network’s future appears promising and resilient. Stay tuned for further updates as Solana continues to shape the future of blockchain technology.