28 May

Solana validators will receive a larger share of SOL tokens following the approval of a governance proposal on Monday, with 77% of voters supporting the change. Validators play a crucial role in maintaining the security and functionality of the Solana blockchain by verifying transactions. Previously, half of the fees from priority transactions were erased, leading to concerns about potential agreements between validators and transaction submitters. 

The new proposal, implemented through Solana Improvement Document number 96 (SIMD-0096), directs all priority fees to validators, aiming to incentivize them to prioritize network stability. This change has been enacted under the feature "Reward full priority fee to validators #34731." SOL's price has increased by 1.6% over the past 24 hours, reaching $166 during Asian trading hours on Tuesday, according to CoinGecko.

May 2024, Cryptoniteuae

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