- The Galactica upgrade introduces dynamic fees, EVM improvements, and deflationary mechanisms to enhance VeChainThor’s scalability and performance.
- VeChain’s community is preparing for a critical vote on the Galactica upgrade, which could shape the blockchain’s future.
The VeChain community is looking forward to a major moment in the blockchain’s progress: the upcoming vote on the Galactica upgrade. Scheduled to begin on February 25 at 7 a.m. UTC, Node holders will have the chance to influence the direction of VeChainThor by voting on the first phase of the VeChain Renaissance roadmap.
The Galactica upgrade introduces a range of VeChain Improvement Proposals (VIPs) to enhance the blockchain’s capabilities and performance. These changes are part of the VeChain Renaissance, a series of upgrades that will span several years, with Galactica being the first of three major phases.
The VIPs outlined for Galactica cover many improvements, from transaction processing to network security, all designed to improve VeChainThor’s overall efficiency and scalability.
It's almost time to vote for Galactica – the first of three major upgrade phases on the VeChain Renaissance roadmap!
From Feb 25, 7am UTC, Node holders can cast their votes on the future of Galactica.
Full details > VeVote:https://t.co/qkWB0B40iD
Building the future on $VET https://t.co/Mq65eTr8Fk pic.twitter.com/QsrlaNtPSQ
— VeChain (@vechainofficial) February 24, 2025
One of the standout features of the Galactica upgrade is the introduction of a dynamic fee market. Inspired by Ethereum’s EIP-1559, as reported by ETHNews, this proposal replaces the fixed-fee transaction model with a base fee that adjusts based on network demand.
In addition, an optional priority fee will allow users to incentivize faster processing by validators. This upgrade will also include burning 100% of base fees, which is expected to drive VTHO toward deflation, reduce attack vectors, and optimize network performance.
Another change is the introduction of Typed Transactions, a new standardized transaction envelope format. This modular approach enhances the protocol’s ability to evolve smoothly without disrupting network operations.
EVM Upgrade and Developer-Focused Enhancements
Galactica also includes a major update to the Ethereum Virtual Machine (EVM), which aligns VeChainThor with Ethereum’s Shanghai release. This update will improve compatibility with Ethereum-native tools and applications, allowing for seamless cross-chain integration.
Additionally, it will help reduce gas costs and improve overall network performance, further positioning VeChainThor as an attractive platform for developers and applications looking for blockchain compatibility.
VIP-TBD proposes an update to the Extension Contract for developers, introducing new functions that simplify contract execution. These enhancements aim to save developers time and improve the efficiency of contract-based operations on the network.
Voting Details and Community Involvement
The voting process for the Galactica upgrades will begin on February 24 and run through the coming weeks. Node holders, including Authority Masternodes, Economic Nodes, and X Nodes, are urged to participate in this vote via the VeVote platform. The results of this vote will help shape the future of VeChainThor and determine the successful implementation of these key upgrades.
In addition to the vote, the VeChain team will host an AMA session with CEO Sunny Lu and Head of R&D Alec Burns on February 19. This session will provide insights into how these upgrades are expected to position VeChainThor for mass adoption. Community engagement will also be a key component of this process, with discussions on Discord and Telegram.
VeChain Market Performance
As the community prepares for the Galactica vote, VeChain’s market performance has been scrutinized. At the time of writing, VET’s price was recorded at $0.02685, reflecting a 12.51% drop in the past 24 hours.
The market cap stood at $2.17 billion, and the trading volume increased by 103.80% in the same period. Despite the price decline, the surge in trading activity suggests that interest in VeChain remains high, with traders closely monitoring the token’s fluctuations.