Ethereum ($ETH) Scores Top Mark in Decentralization Assessment
Ethereum ($ETH) achieved a remarkable 9.7 out of 10 in an independent decentralization assessment by William Mougayar of the Ethereum Market Research Center. The study evaluates four networks based on criteria outlined by the U.S. Securities and Exchange Commission (SEC)'s Division of Corporation Finance in a crypto asset FAQ updated on 2026-11-02.
Here's how the networks fared:
- Solana ($SOL): 8.8
- $XRP Ledger ($XRP): 8.1
- Canton Network: 5.1
Mougayar's assessment focused on network governance, centralized control, and staking structures. Ethereum ($ETH) excelled in governance, where neither the Ethereum Foundation, developers, nor any single group of validators can unilaterally alter the network's core rules, and decisions require input from multiple stakeholder groups. The implementation of EIP-1559, which automatically burns a portion of every transaction's gas fee, was also noted as significant.
The report highlights that receipt-style tokens issued by Lido and Rocket Pool for staked $ETH are potentially consistent with the asset classifications mentioned in SEC staff statements, provided they meet specific conditions. The study, however, makes no price prediction for Ethereum ($ETH), but rather focuses on governance evaluation.
| Network | Score (out of 10) | | --- | --- | | Ethereum ($ETH) | 9.7 | | Solana ($SOL) | 8.8 | | $XRP Ledger ($XRP) | 8.1 | | Canton Network | 5.1 |