The Problem With Solana Really Doesn’t Concern Anything On The Triangle.
Compared to ethereum, solana has 60 thousand times lower fees. Solanascan allows you to explore and search the solana blockchain for transactions, addresses, tokens, prices and other activities taking place on solana (sol) That is 10 / 1 million = 0.00001 $ per transaction.
The Sum Of Solana Network Fees Paid Whenever A Payment Transaction Is Initiated On The Blockchain Stayed Roughly The Same Since October 2021.
Solana is all about speed, with 400 millisecond block times. The hundreds of projects on solana choose this platform because it is a scalable blockchain solution with cheap transaction fees. Lamports_per_signature ), not by the amount of resources used.
Because Of The Longer Block Time And Larger Block Size, The Solana Network Has An Incredibly Low Transaction Fee Of $0.00025 Per Transaction.
Solana fees are $0.00025 per transaction, but they fluctuate over time. For a single nft, the transaction fee reflected in the wallet is 0.012sol = 2.16$ at this time. Solana can reach over 50k transactions per second while keeping costs to $10 per 1 million transactions.
This Increase Follows The Popularity Of Solana As An Alternative Blockchain Ecosystem To Ethereum Which Experiences An Increase In Transaction Fees.
This data is passed directly to a smart contract which if written with solidity, will be. Solana's scalability ensures transactions remain less than $0.01 for both developers and users. From september to early december, sol experienced a drastic increase of 11,000%, bringing its price to around $250 dollars.
In Solana, Transaction Fees Are Deterministic:
Currently transaction fee calculation is very simple, each signature in a transaction costs an additional 5000 lamports (there are 10^9 lamports in one sol). This fee can fluctuate dramatically depending on transaction volume across the network, and it is not uncommon to see complaints on social media about. If you are executing transactions on the solana blockchain, you are required to pay transaction fees.