Solana will start rewarding validators for faster transaction processing

The offer will be implemented after the v1.18 blockchain upgrade

10.04.2024 - 11:10

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What’s new? Solana blockchain validators have overwhelmingly (98%) approved an initiative that will implement the Timely Vote Credits mechanism and speed up the transaction validation process. The proposal will change the approach to encouraging validators to participate in consensus votes. Thus, validators will be awarded more points for sending votes with less delay.

Mechanism description

What else is known? According to Solana Labs, until now, validators have always been awarded one point for participating in consensus voting on blocks of transactions processed by the network. Over time, validators found that they could maximize profits by delaying the casting of their vote to ensure that their approval of a transaction would not cause the network to split and penalize them.

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Solana Labs explained that the Timely Vote Credits initiative will prevent validators from intentionally lagging validators, as the delay will reduce the number of points available for consensus voting.

It is not yet known what impact the new mechanism will have. It is expected to be implemented sometime after the Solana v1.18 upgrade, scheduled for this April. The upgrade includes fixes to address issues with transaction priority processing fees and network congestion.

According to Solana Compass, the blockchain produces about 1000 user (Non-vote) transactions per second and nearly 2000 Vote transactions.

Blockaid earlier reported that 50% of meme token presales on Solana from November through February turned out to be fraudulent. On April 4, the share of failed user transactions on the network reached a record of 77%.

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