Analyzing blockchain network decentralization challenge through a hybrid graph-based consensus

The transfer of authority from a centralized entity to dis- tributed governance is commonly cited as a key advantage of public blockchains [1]. Recent studies, however, indicate that methods favor- ing more powerful validators are contributing to increased centralization challenges and the emergence of mining pool oligopolies [2]. This paper presents an examination of a technique for monitoring these trends over time, specifically addressing the significant issue of maintaining decen- tralization in the context of a hybrid consensus mechanism. Included in this study are discussions and illustrations of various graph structures utilized in these processes, such as mining and stake pools, as well as concentrations of wealth and developers, and the concept of Proof of Activity.