What Is the Concept of a ‘Tip’ or ‘Priority Fee’ in Modern Blockchain Transaction Models?

The 'tip' or 'priority fee' is an extra, voluntary payment included in a transaction that goes directly to the validator or miner. It is distinct from the base transaction fee.

Its purpose is to incentivize the validator to prioritize the inclusion of that specific transaction over others in the mempool, especially during periods of high network congestion. Front-runners leverage this mechanism by offering a high tip to jump the queue for profitable trades.