Solana $SOL developers implemented a new feature last year to let users to pay extra to avoid congestion, and the adoption rate is growing realDannyNelson reports
on the same exchange at once, they might start paying priority fees to ensure their trades go through at the prices they want. But even during that high traffic time, the local fee market for minting an NFT elsewhere on Solana won’t get more expensive. OnJonny Platt, CEO of Solana Compass, told CoinDesk priority fees are changing the economics of running his validators on Solana. He said average block rewards are 20% higher year-over-year.
“So many normal everyday users of Solana are excited to see this because there’s recognition that we’ve improved over last year,” Platt said of priority fees.Solana suffered multiple well-documented network outages in 2022 and 2021, some of which were driven by bots pummeling one corner of the blockchain simultaneously. In one such outage, in September 2021, bots crowded a token sale on exchange Raydium with more transactions than Solana could handle.
Solana transaction fees are the sum of a static base fee plus a dynamic computational fee. With priority fees, users who want faster execution can opt to pay some extra SOL. Bots who previously spammed the network for dominance won’t win on transaction volume alone, validators said.
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