• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Analyzing Solana's Approach to Node Operation Cost Reduction

user avatar

by Giorgi Kostiuk

a year ago


Key Points
  • The founder of Solana suggests a method to decrease the high cost of running a node.
  • Solana aims to tackle the high cost primarily due to voting fees.

Anatoly Yakovenko, the creator of Solana, proposed a strategy to diminish the expensive nature of maintaining a node on the network.

This initiative follows the Solana Foundation's choice to cease financial backing for some validators engaged in MEV (Maximum Extractable Value) sandwich attacks.

Evaluating Node Operating Costs

Operating a Solana validator node comes at around $65,000 annually, a notably higher expense compared to an Ethereum validator's operation.

Yakovenko linked the cost disparity to Ethereum's investment in its consensus mechanism, specifically the Boneh-Lynn-Shacham (BLS) signature system.

The BLS scheme allows validators to aggregate multiple independently verified messages, thereby diminishing the overall expenses.

Proposing Solutions by Solana

Although Solana's current model doesn't align with Ethereum's, Yakovenko mentioned the possibility of Solana integrating a similar framework in the future.

He suggested that the introduction of voting subcommittees could lower the vote fees and decrease the voting burden, ultimately reducing expenses.

The recent statistics reveal that 80% of all Solana transactions in the past week were related to votes, highlighting the substantial impact of voting fees on node operation costs.

The implementation of Yakovenko's proposal by Solana remains uncertain.

Simultaneously, amidst increased caution among crypto investors ahead of the FOMC (Federal Open Market Committee) meeting, Solana's value experienced a 6% decrease.

The cryptocurrency's price declined to $145 on June 11th, a level reminiscent of mid-May, driven by market liquidations.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Circle Explores Validator Role on Hyperliquid Network

chest

Circle Internet Financial is exploring the possibility of becoming a validator on the Hyperliquid network to strengthen its position within the ecosystem.

Иван Смирнов

Social Media Sentiment for Bitcoin Reaches New High

chest

Positive sentiment for Bitcoin on social media has surged, with 177 positive comments for every negative one, marking the highest bullish sentiment in 10 weeks.

Артём Григорян

Bitcoin's Volatility Hits Yearly Lows Amid Market Uncertainty

chest

Bitcoin's trading activity remains muted with historically low volatility, despite recent price increases.

Рустам Назаров

CryptoQuants Bitcoin Bull Score Index Shows Significant Shift

chest

The Bitcoin Bull Score Index has increased from 20 to 50 in just four days, indicating a shift from bearish to neutral market conditions.

Дмитрий Коваленко

Fidelity's FBTC Product Sees Record Inflows in Bitcoin ETF Market

chest

Fidelity's FBTC product accounted for a substantial portion of last week's Bitcoin ETF demand, with its $843 million net inflow representing 36% of the total $234 billion recorded across all funds and marking an 18-month high.

Анастасия Орлова

New Claims Added to Class Action Against TaskUs Over Coinbase Data Breach

chest

Amendments to a class action lawsuit against TaskUs reveal new claims of systemic security failures and concealment related to a breach of Coinbase customer data.

Жанна Токтабаева

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.