The proposed VeChainThor Dynamic Fee Mechanism aims to enhance network security and user experience by transitioning from a fixed-fee model to a dynamic fee model, similar to Ethereum’s EIP-1559. This involves introducing a per-block base fee that is burned and adjusted dynamically based on network congestion, in combination with a user-defined priority fee that is paid to the validator that proposed the block. The base fee is burned, effectively reducing the circulating supply of VTHO. The priority fee incentivizes validators to prioritize transactions, reducing congestion and improving network efficiency. The minimum base fee will be set at 10,000 gwei (0.00001 VTHO), the existing base fee value.
Related topics
| Topic | Replies | Views | Activity | |
|---|---|---|---|---|
| Add VIP: VTHO burn mechanism | 13 | 517 | January 16, 2024 | |
| Add VIP: VET Custodian Contract Standard | 5 | 227 | November 25, 2023 | |
| Increase the base fee coefficient | 3 | 138 | June 10, 2024 | |
| Add VIP: Typed Transaction Envelope | 0 | 17 | February 18, 2025 | |
| Original X Node NFT Ownership & Validator Delegation - | 0 | 44 | December 13, 2024 |