SolFlare, a popular wallet developed for the Solana blockchain, recently announced that Solana users can relieve network congestion by paying high gas fees.
Vidor Gencel co-founder of Solrise Finance posted on twitter quoting that “ @solflare_wallet is the first to implement this in a user-friendly way! In-wallet transactions will automatically be prioritized with the current market price for fees, ensuring that your transactions are included faster than those in other wallets.”
8/ @solflare_wallet is the first to implement this in a user-friendly way!
In-wallet transactions will automatically be prioritized with the current market price for fees, ensuring that your transactions are included faster than those in other wallets. pic.twitter.com/rV7pVitEEN
— Vidor Solflare/Rise
(@vidor_solrise) January 16, 2023
Priority fees also play a significant role in the stability of a blockchain network by intimidating users from frequently sending transactions to the Solana network in the expectation that one of them would be accepted/approved.
As of now Solflare will now automatically determine if the Solana Network is under heavy congestion and will slightly increase fees to hierarchize some transactions over others.
According to the co-founder of Solrise, Finance notes that the further step will comprise working with dApps to successfully prioritize their transactions and contributing a safety feature in the wallet to avert any inappropriate usage of the fee mechanism.
Solana mostly experiences congestion on its network because it tries to manage a spike in transactions.As per reliable data sources Solana have faced 17-hour network disruption which took place due to resource exhaustion.It is important to note that the number of transactions were 400k per second.
According to a recent event Solana Foundation warned about security events with Mailchimp. According to an email sent to users, an unauthorized actor accessed and exported certain user data from the Solana Foundation’s Mailchimp instance.
On January 14th, 2023, it disclosed a security incident which involved its email service provider Mailchimp.
The email sent to users stated that the Foundation was informed by Mailchimp on January 12th, 2023 that “an unauthorized actor accessed and exported certain user data from the Solana Foundation’s Mailchimp instance.”
Amidst many growing concerns regarding projects over Solana network, a new issue reported related to the same. People with familiarity with the matter stated the United States Department of Justice (DOJ) proceeded with the investigation over Saber Labs creator brothers, Ian and Dylan Macalinao. The platform is a stablecoin exchange based on Solana.
The creator duo reportedly gamified the total value locked of the project so much that crypto space statistics aggregator DefiLlama went on to change the popular metric’s presentation.
Saber was also reported to plan a transition to Aptos blockchain network which later went on to get abandoned.
Source: https://www.thecoinrepublic.com/2023/01/19/solflare-wallet-to-charge-priority-gas-fees-to-solana/