Does the Priority Fee Guarantee Faster Confirmation?
The priority fee does not strictly guarantee faster confirmation, but it significantly increases the probability. Validators are economically incentivized to select transactions with higher priority fees first, as this directly increases their revenue.
During periods of high congestion, a higher priority fee is essential to compete for the limited block space.
Glossar
Priority Fees
Mechanism ⎊ Priority fees represent a dynamic component within blockchain networks, particularly those employing proof-of-stake or delegated proof-of-stake consensus, functioning as a market-based incentive for transaction inclusion during periods of network congestion.
Guarantee
Assurance ⎊ Within cryptocurrency derivatives and options trading, assurance represents a formalized commitment regarding the performance or outcome of a contract, extending beyond a mere promise.
Priority Fee
Incentive ⎊ The priority fee, often referred to as a tip, is an optional payment included in a transaction to incentivize validators to prioritize its inclusion in the next block.