VeChain Node Holders to Vote on Galactica—Pivotal Upgrade Incoming
The post VeChain Node Holders to Vote on Galactica—Pivotal Upgrade Incoming appeared on BitcoinEthereumNews.com.
Voting has begun for the Galactica Upgrade proposal, which will introduce a foundational upgrade to VeChainThor. Galactica is also reported to be one of the main three phases coming to the VeChainThor in 2024 and beyond. VeChain is reported to have officially commenced the stakeholders’ voting of its Galactica upgrade – one of the three major phases expected to be seen on the VeChainThor this year. According to the report, Authority Masternodes, Economic Nodes, and X Nodes can join the VeVote to “set the ball rolling” for the VeChain Renaissance. At press time, 46 stakeholders had cast their votes with six more days to go. Impact of the Galactica Upgrade According to the report, the Galactica VeChain Improvement Proposals (VIP) is expected to introduce a foundational upgrade to the protocol. This would be witnessed across the Dynamic Gas Fee Market and VTHO transaction model as well as the Ethereum Virtual Machine upgrade (EVM) that provides enhanced compatibility as previously mentioned in our report. The introduction of the Dynamic Gas Fee Market for transactions in the upgrade is said to be inspired by the Ethereum EIP-1559. According to the report, two important components would replace the fixed fee model. The first would be a base fee that changes with the network’s demand. The second would be an optional priority fee that can enable users to incentivize validators for faster processing. Source: VeChain Under Typed Transactions, the upgrade would introduce a standardized transaction envelope format that would revolutionize the way VeChainThor processes blockchain operations. Additionally, it would identify and manage different types of blockchain transactions to simplify contract interactions. This modular approach allows VeChainThor to integrate new features smoothly and continuously, letting the protocol evolve without disrupting network operations or fragmenting the ecosystem. These are important foundations for the future. More About…
Filed under: News - @ February 26, 2025 3:22 am