Solana network transaction costs hit a historic high, governance proposal passed to double inflation reduction rate

According to The Block, Solana Network's seven day average cost for SOL pricing reached a record high of 9200 SOL on Thursday (August 27th), an increase of over 80% compared to three months ago. The seven day average of non voting transactions reached 191 million, setting a new historical high, compared to 88 million transactions in the same period last year. Jito verifier fees have averaged 2073 SOL per day over the past week, an increase of 26% compared to the previous week. The SGP-0002 proposal was passed with a support rate of 67.001% and a voter turnout of 60.7%. The proposal doubles the annual inflation reduction rate from 15% to 30% and is expected to reduce the issuance of approximately 18.9 million SOLs over the next six years.