Solana validators will receive 100% priority fees, governance proposal passed!
The $SOL blockchain has recently passed that validators will receive 100% priority fees. The change, which passed with 77% support on Monday evening, aims to improve the efficiency and security of the network.
1⃣️The role of Solana validators
Validators play a vital role in blockchain networks. They run specialized software to confirm transactions and ensure the security of the overall network. In the Solana ecosystem, users can pay additional priority fees to speed up transaction processing. These fees will now be fully rewarded to validators, which is different from the previous model.
2⃣️Changes in fee distribution model
Previously, $SOL 's priority fees were distributed, with half of the fees being destroyed and the other half given to validators. This system led some validators to reach "private deals" with transaction submitters to obtain more $SOL tokens, as proposal creator tao-stones pointed out on the Solana governance forum. The new proposal aims to address this issue by allocating all priority fees directly to validators.
3⃣️ Ensure network security and efficiency
The main goal of this proposal is to ensure that validators focus on maintaining the security and normal operation of the network. By rewarding validators with the full amount of priority fees, the network aims to prevent private transactions and promote a simpler and more transparent transaction process. Tao-stones emphasized that this change will incentivize validators to prioritize the integrity of the network.
4⃣️ Implementation of the proposal content
This proposal is detailed in Solana Improvement Document No. 96 (SIMD-0096) and is implemented under the function "Rewarding full priority fees to validators 34731". This change is expected to simplify the fee allocation process and emphasize the importance of validators in maintaining the robustness of the network.
