  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.
