ARK Invest and Glassnode have released a joint report assessing Bitcoin, Ethereum, and Solana across a decentralization spectrum rather than a binary centralized-versus-decentralized framework. The study evaluates the three networks through four design features—auditability, security, governance, and ownership—and quantifies results using a six-dimension scoring model built from Glassnode data and other network sources. The report says Bitcoin ranks strongest in auditability, ownership distribution, and geographic resilience, Ethereum sits in the middle across the scorecard, and Solana trades decentralization for higher performance and faster coordination. It also highlights that Bitcoin and Ethereum each reach critical control thresholds with three entities, while Solana requires 19, though pool structures and delegation affect that assessment. The analysis further examines infrastructure geography and hosting concentration. Bitcoin is described as having the most evenly distributed node footprint, with 63% of nodes operating behind Tor, while Ethereum relies partly on cloud infrastructure, including about 20% of nodes hosted on AWS. Solana, by contrast, runs its infrastructure largely in data centers by design.