A Solana transaction’s journey from user submission to block inclusion can be arduous. Even once the transaction reaches the current leader, it must compete with other transactions for limited blockspace. Including transactions in a purely first-come-first-served fashion encourages spam and may block high-value transactions from ordinary users. To solve this problem we need a fee mechanism.
Multidimensional Blockchain Fees are (Essentially) Optimal
Abstract In this paper we show that, using only mild assumptions, previously proposed multidimensional blockchain fee markets are essentially optimal,…