What Is ‘Miner Centralization’ in PoW and How Does It Compare to ‘Validator Centralization’ in PoS?

Miner centralization in PoW is the concentration of hash power among a few large mining pools or hardware manufacturers, making the network vulnerable to collusion or a 51% attack. Validator centralization in PoS is the concentration of staked capital among a few large entities (e.g. centralized exchanges or LSD protocols).

Both forms of centralization compromise the network's decentralization and censorship resistance, but PoS centralization also carries the risk of a single point of failure and regulatory capture.