The developers of the Solana project team are highly optimistic with their new model of fee structure in the Solana network.
Solana is a biggest Proof-of-stake Consensus-based blockchain network. Due to the Proof-of-history protocol, the Solana blockchain can facilitate high scalability-based transactions at low fees, which created a very big competition against all other crypto projects. However, the Solana blockchain is already able to do huge in the crypto industry but several outages in its network this year and its existence in the Beta phase are creating a lack of trust among the crypto Investors.
In the first week of last month, the Solana team explained about the outage in the Solana Network and also introduced its new fees structure based model to fight against the bug at a significant level.
Recently Solana co-founder Anatoly Yakovenko shared about the new model via a Twitter thread and confirmed that the new fees model will be different from the Ethereum blockchain network fees system.
-----Cryptonews AD----->>>
Sign up for a Bybit account and claim exclusive rewards from the Bybit referral program! Plus, claim up to 6,045 USDT bonus at . https://www.bybit.com/invite?ref=PAR8BE
<<<-----Cryptonews AD-----
ELI5 solana fees:
Once all the features rollout, there will be fees. Does that mean the network will be expensive? No!https://t.co/vWfJxYXjiK
— SMS T◎Ly,
(@aeyakovenko) June 16, 2022
Through the thread, the Solana co-founder explained that the new fees structure will provide high fees as a high priority but under the single domain or boundary, which means each Defi protocol in the Solana blockchain ecosystem will give priority to their corresponding transaction as a priority and it will not show any impact to the overall blockchain Network fees, which is usual in many blockchains like Ethereum.
Solana co-founder wrote:
“Each decentralized app (dapp) works as a single switch in his analogy. A specific NFT auction, specific Serum market, or Orca AMM pool is one switch…(..)… The fees are used to prioritize transactions within a certain app or protocol, not the entire network.”
Local Fee Markets > Global Fee Markets
cc: @yaamehn https://t.co/Xf3ata6Ezm pic.twitter.com/wwyx3scTLi
— PEDR◎
(@voteforpedrito) June 16, 2022
According to experts’ point of view, this strategy of Solana Labs will not work at that level, where they are expecting because transaction load will remain always at that level but surely some lag will appear in the transaction’s execution time, even if a user will pay high fees. Well, here it will be a matter of time, whether Solana Labs will be able to get out of the critical situation because of outages in the network or it will be required to do something else.
Read also: SEC’s resistance to spot bitcoin ETP is becoming almost legendary: Hester M. Peirce
Solana devs want to regain trust via a new fees model
https://bitcoinik.com/solana-devs-want-to-regain-trust-via-a-new-fees-model/feed/
https://bitcoinik.com/solana-devs-want-to-regain-trust-via-a-new-fees-model/feed/
Buy bitcoin and other cryptocurrencies on crypto exchanges: Binance Coinbase Kraken Bitfinex
EXPLOSIVE LTD is an investment company specializing in financial market trading. Our preferred market is commodities: EXPLOSIVE LTD have developed accurate expertise in trading gold, silver, crude oil, natural gas.
🔥 Explosive-X
Signup link: https://explosive-x.io/?ref=devplus
Started: 01/06/2022
💰 Investment Plans: 4% daily for 25 days (principal return end of the cycle)
Cancel Deposit after 24 hours with a 15% fee
Withdrawal: Manual (Max 12 hours)
📥 Minimal deposit: $10 – Maximum deposit: $50.000
📥 Minimal withdraw: PM $1 , BTC $10 ,LTC $5 ,ETH $20
XRP $5 ,DOGE $5 ,USDT ERC20 $20 ,TRX $5 ,XLM $5
USDT (TRC20 BEP20) $5 , USDT TRC20 5$ , BNB $5 ,BCH $5
🤝 Referral program: 6% – 2%
Career Bonus:
$1000 Direct active referrals: $40 Bonus
$2500 Direct active referrals: $100 Bonus
$5000 Direct active referrals: $250 Bonus
$15,000 Direct active referrals: $600 Bonus
$50000 Direct active referrals: $2500 Bonus
Sign Up : https://explosive-x.io/?ref=devplus
—————————————————————————————————————-
BN Trust
📣24 hours trading, every two hours, you can earn more than 5% profit per day
Invest $100 (30 days) and get $432
Invest $300 (30 days) and get $1297
Invest $500 (30 days) and get $2161
Invest $1000 (30 days), get $4320
Invest $5,000 (30 days) and get $21,610
Invest $10,000 (30 days) and get $43,200
💵Minimum deposit amount is $20.
The minimum withdrawal amount is $10.
Cash out anytime!
The higher the capital, the more you earn
🖇Operation registration link https://www.bn-trust.com/#/register?sharecode=kBrco2
Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by Cryptonews24.eu, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin.
Cryptonews24.eu provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice.
Cryptonews24.eu recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.
