📰 News: Solana, one of the most efficient and affordable crypto networks, charges transaction fees of approximately $0.0002. Since launching in 2020, Solana has shifted its focus from flat fees to additional fees to prioritize certain transactions.
🔎 According to Solscan, Solana's regular transaction fees range between $0.0001 and $0.0003. Additional fees, which allow users to speed up their transactions, average 0.0000079 SOL or $0.0000186.
📊 Statistics: On average, users pay around 200 SOL in regular fees and more than 80 SOL in prioritization fees each day. 50% of all transaction fees are burned, while the other 50% is distributed to the validator who processed the transaction.
🚀 Comparison: Solana is one of the fastest and cheapest blockchain networks on the market, capable of handling up to 65,000 transactions per second. In comparison, Bitcoin can handle 7 TPS and Ethereum around 30.
🔗 Significance: Low transaction fees allow blockchain use cases such as smart contracts, non-fungible tokens, decentralized finance applications, and gaming to become viable. This has fueled NFT activity on Solana and its growth in popularity.