Solana Vote Transactions vs Non-Vote Transactions.
14-08-2024 0800-08:15 (15 minutes)
Total Vote Transactions: ~2.4 million. ~84.62%
Total Non-Vote Transactions: ~438k. ~15.38%
Nearly 85% of all transactions in this period were vote transactions that are required for the blockchain to function. This period saw an average transaction rate of approximately ~487 TPS (including failed transactions). If we exclude failed transactions, which account for roughly 70%, the effective TPS would be around ~146.1.
What I find really interesting is that, the voting mechanism in Solana bears similarities to a typical Ponzi scheme in that new validators are required to vote to participate in the network. Larger validators, by virtue of their greater stake, collect the fees these new validators have to pay for vote transactions. This allows the larger validators to grow their stake and dominance further, enabling them to capture an increasingly larger share of not only voting fees but also all transaction fees on the network. This likely contributes to their existing long-term Super Minority issue where 17 validators currently control 33% of staked Solana.
This is a prime example of the "rich get richer" dynamic in action.
@Dagnum_PI Over 50% failed transactions, slow true finality, Blockchain bloat, down 11 x last 2 yrs, needs oracles, off chain storage, Centralized to the point of control, non native assets, FTX fraud, but hey, great place for a Frog or Cat SC for token. Glad it got pumped for ya👍
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🚨🚨IRREFUTABLE EVIDENCE:
an Obama insider wishing Trump for Christmas in handcuffs, now in charge of Dominion voting machines.
Jim savage held up in his hand a fairly large vDrive key and said,
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It flipped Trump votes by 50,000,
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KJP just claimed that Biden supports "No Tax on Tips"
If that's true, then why did his IRS start cracking down on tips?
Why wouldn't he eliminate tax on tips right now?
Democrats will literally lie about anything.
They think you're stupid.