2024

Solana

Security

<ul>
 <li>Solana’s governance vote passed with a 77% majority, directing all priority fees from transactions to validators.</li>
 <li>The SOL price has climbed over 66% since the start of the year.</li>
</ul>
Solana validators are set to receive the entirety of priority fees from <a href="https://thenewscrypto.com/solanas-on-chain-activity-wanes-whats-next-for-sol/" target="_blank" rel="noopener noreferrer nofollow">transactions</a>, following a recent governance vote that passed with 77% approval. This change aims to enhance network security and efficiency.&nbsp;
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="707" height="311" src="https://thenewscrypto.com/wp-content/uploads/2024/05/image-153.png" alt="" class="wp-image-99301" srcset="https://thenewscrypto.com/wp-content/uploads/2024/05/image-153.png 707w, https://thenewscrypto.com/wp-content/uploads/2024/05/image-153-300x132.png 300w" sizes="(max-width: 707px) 100vw, 707px">
 <figcaption class="wp-element-caption">Solana (SOL) Proposal Conclusion (Source: <a href="https://forum.solana.com/t/proposal-for-enabling-the-reward-full-priority-fee-to-validator-on-solana-mainnet-beta/1456/97" target="_blank" rel="noopener noreferrer nofollow">Solana</a>)
 </figcaption>
 </figure>
</div>
Previously, priority fees were split, with half burned and the other half going to validators, leading to side agreements between validators and transaction submitters. By allocating 100% of these fees to validators, the network hopes to reduce such deals and improve validator focus on network integrity.
This update is part of Solana Improvement Document 96 (SIMD-0096) and is now active under the feature “Reward full priority fee to validators #34731.”&nbsp;
The move follows SOL’s significant <a href="https://thenewscrypto.com/solana-sol-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">price increase</a> since late 2023, peaking at around $210 in March 2024 and now trading at about $169. Despite this, the network has faced congestion and crashes, going down at least four times.

Solana Boosts Network Security by Granting Validators 100% Priority Fees

TheNewsCrypto

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