Solana validators will receive 100% priority fees, governance proposal passed

The Solana blockchain has recently passed a proposal for validators to receive 100% of the priority fee. This change was approved with a 77% majority on Monday night, aiming to enhance the network's efficiency and security.

The Role of Validators in Solana

Validators play a crucial role in blockchain networks. They run specialized software to validate transactions and ensure the overall network's security. In the Solana ecosystem, users can pay additional priority fees to expedite transaction processing. These fees are now fully rewarded to validators, which is a departure from the previous model.

Changes in Fee Allocation Model

Previously, Solana's priority fees were allocated with half of the fees being burned and the other half given to validators. This system led to some validators engaging in "off-chain deals" with transaction submitters to receive more SOL tokens, as highlighted by proposal creator tao-stones on the Solana governance forum. The new proposal aims to address this issue by directly allocating all priority fees to validators.

Ensuring Network Security and Efficiency

The primary goal of this proposal is to ensure that validators focus on maintaining the network's security and normal operation. By fully rewarding validators with priority fees, the network aims to prevent off-chain deals and promote a simpler, more transparent transaction process. Tao-stones emphasizes that this change will incentivize validators to prioritize the integrity of the network.

Implementation Details of the Proposal

This proposal is detailed in Solana Improvement Document No. 96 SIMD-0096 and is implemented under the feature "Reward Validators with Full Priority Fees #34731." This change is expected to streamline the fee allocation process and underscore the importance of validators in maintaining network robustness.