Voting Begins for the Galactica Upgrade Proposal

• 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 VeChainThor in 2024 and beyond.

VeChain has officially commenced stakeholder voting for its Galactica upgrade, a significant phase anticipated on the VeChainThor this year. Authority Masternodes, Economic Nodes, and X Nodes can participate in the VeVote, contributing to the VeChain Renaissance. So far, 46 stakeholders have voted with six days remaining.

Impact of the Galactica Upgrade

The Galactica VeChain Improvement Proposals (VIP) aim to implement foundational upgrades across the Dynamic Gas Fee Market and VTHO transaction model, including an Ethereum Virtual Machine (EVM) upgrade for enhanced compatibility.

The Dynamic Gas Fee Market draw inspiration from Ethereum’s EIP-1559. Key components will replace the fixed fee structure, introducing a base fee that adjusts according to network demand and an optional priority fee that incentivizes validators for quicker processing.

Under Typed Transactions, the upgrade will standardize transaction format, transforming how VeChainThor handles blockchain operations and simplifying contract interactions.

> This modular approach allows seamless integration of new features, enabling the protocol’s evolution without disrupting network operations or fragmenting the ecosystem, which is fundamental for the future.

More About VeChain’s Upgrade

Similar to Ethereum’s Shanghai release, this upgrade synchronizes advancements in the Ethereum Virtual Machine (EVM) with VeChainThor. This sets the stage for developers to create tools and applications on the platform.

> By aligning with Ethereum’s EVM capabilities, we unlock new cross-chain innovation opportunities and facilitate deeper blockchain integration. The upgrade introduces PUSH0 and optimizes gas costs while focusing on industry standards, including JSON RPC support—an objective of the VeChain Renaissance, although not part of Galactica. This enhancement will broaden compatibility with Ethereum-native tools and wallets, allowing for significant ecosystem expansion.

In a previous update, we noted the announcement of the VeChain Renaissance and its Proof-of-Authority upgrade, meant to optimize VTHO issuance by controlling its generation and limiting rewards to active stakeholders.

The POA represents the third consensus model for VeChain, offering new staking opportunities, increased decentralization, and developments in “Validator Delegation, Upgraded Validator Mechanics, and New Economic Node Tiers.”