Smart Chain vector appoints a former Citigroup executive and introduces a fixed gas rate model.
Gas rates have a long leg a source of uncertainty in cryptography. On Friday, May 9, Smart Chain vector introduced a fixed gas rate model intended to balance safety, stability and scalability in the network.
All gas rates in the intelligent vector chain will now cost a flat rate of $ 4, providing users with predictable costs and confidence that increases, especially among business clients, which are a main approach for VSC. The chain hybrid consensus mechanism emphasizes high performance and almost instantaneous purpose, attracting corporate users.
“The $ 4 gas rate is not arbitrary, designed to balance the safety and accessibility of the network. We are eliminating blockchain conjectures,” said VSC spokesman.
In addition, this model is designed to make VSC deflationary predictably. With each transaction, exactly $ 1 will be burned in VSC tokens, reducing total supply in proportion to the network activity.
Smart Chain vector designates former Citygroup executive
Together with the launch of his new gas model, VSC also announced the appointment of a former financial director of Citigroup Finance. Peter Ritchie will join the Layer 1 network as an executive consultant of strategic finance, helping to advance in the long -term financial strategy of the platform.
“It’s not just about blockchain, it’s about building a transparent and resistant financial future. VSC is in a unique position to lead that evolution,” Peter Ritchie, VSC.
Ritchie will guide the Global Financial Route map of VSC and ensure that its economic model remains sustainable. It will also work to strengthen the integration of the network with institutional and business clients. In addition, Ritchie will play a role in VSC efforts to achieve neutral carbon status.
VSC is already winning traction. Recently, Besc Exchange announced that it would migrate from Solana to VSC, citing the infrastructure and the economic model of the network that offers the greatest growth potential.
