Solana passes a proposal to distribute all transaction fees to Validators

On the evening of 27/05, Solana passed proposal SIMD-0096 and distributed all Priority Fee to Validators.

****Solana passes proposal to allocate all transaction fees to Validators

Specifically, in Epoch 620, the voting process for proposal SIMD-0096 has concluded. The total amount of coins participating in the vote is 51.1%. The "Agree" threshold required to pass is 66.66%. The data shows that the percentage of voting units in agreement is 77.7%. Therefore, this proposal has been officially approved.

The proposed SIMD-0096 will split the entire Priority Fee among the Validators. Accordingly, to have transactions processed with priority on the network, users will need to pay an additional reward to the Validator called Priority Fee. Previously, 50% of this fee would be transferred to the Validator and 50% would be burned from circulation. However, it should be emphasized that 50% of the original Base Fee will still be burned by the network after this proposal.

By giving all these fees to the Validator team, it will create more motivation for many entities to participate in network operation, helping to concentrate fees and minimize the risk of 51% attacks. This is because Solana is known as one of the networks that require high standards of hardware and monthly operating costs for Validators. Therefore, many Node operators (especially small ones) will have a lot of difficulty in reaching the break-even point when participating in network validation.

Besides changes in the transaction fee structure, Solana is also actively implementing changes related to the reception and processing of user requests. In April 2024, a series of spam activities from transaction bot caused the Solana network to encounter difficulties. Therefore, from this point on, Solana has begun to experiment with new client versions (specifically 1.18) to help the network temporarily overcome this phenomenon.

> \u003e \u003e\u003e See more: Can the 1.18 update address the issue of bot spam on Solana?

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Back to the proposal SIMD-0096, although it has been approved, the community continues to debate whether this change is beneficial to Validators, who are the only entities participating in the vote on this proposal. Therefore, it can be seen that some Validator groups have actively voted "Abstain" - blank votes for the proposal.

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