Solana Community Votes to Reward Validators with 100% of Priority Fees

• Solana community votes to give validators 100% of priority fees, passing by 77% margin.
• Previously, priority fees were split between validators and token-burning mechanism.
• Solana token price reaches $171, facing congestion issues and network crashes.
• Network experienced crashes in 2021, 2023, and faced congestion due to high traffic.
• Developers promise bug fixes after crashes, Solana remains fastest blockchain network.
• Transaction per-second metrics reach record high of 1,504 TPS on April 6, 2024.

Summary :
The Solana community recently voted in favor of giving network validators 100% of priority fees generated by network users, with the vote passing by a margin of 77%. Previously, the priority fees were split evenly between rewarding validators and the token-burning mechanism. Despite Solana's strong price performance, the network has been facing congestion issues and has experienced several crashes. These crashes have been attributed to factors such as network congestion caused by bots, high traffic, and game token sales. Solana's developers have reassured the community that bug fixes and overhauls will be implemented to address these issues, but future crashes have not been ruled out. Despite the challenges, Solana remains the fastest blockchain network, surpassing Ethereum in terms of transaction throughput.

Sources :

- CoinTelegraph