VeChain Launches Galactica – Transforming VeChainThor with VIP Enhancements

The VeChainThor ecosystem is poised for growth with the introduction of new VeChain Improvement Proposals (VIPs). The Galactica innovation is designed to enhance the existing Renaissance upgrade. VeChain (VET) continues to advance its significant Renaissance upgrade with the rollout of Galactica. Galactica is integrated within the larger VeChain Renaissance initiative as per the blockchain protocol, which focuses on transforming the platform’s technical and economic structures. The introduction of Galactica VIPs is a part of this effort. The Galactica phase presents four important VeChain Improvement Proposals (VIPs) aimed at boosting the functionalities of the blockchain. These initiatives represent the beginning of a process that will significantly transform the core structure of the VeChainThor blockchain. The four initiatives consist of the Gas Fee Market, Typed Transactions, an upgrade to the EVM, and an update to the Extension Contract. Every component is crafted to enhance VeChain’s efficiency and improve its interoperability with various blockchain systems. They also establish a stronger foundation for upcoming advancements. Drawing inspiration from Ethereum EIP-1559, VIP-251 shifts from the existing fixed-fee structure to a dynamic fee system. With VIP-251, all base fees are completely burned, which speeds up the deflationary trend of VTHO. This framework enhances total gas usage and improves network efficiency. VIP-252 introduces a uniform transaction envelope structure that changes the way VeChain processes blockchain operations.